Industry Insights

Startup a 2020 Cash Balance Plan in 2021

Maximize ALL tax credits and lower your tax liability for the 2020 tax year, by adopting a 2020 Cash Balance plan in 2021!

With the SECURE Act legislation, the NEW Cash Balance Start-Up Deadline for a 2020 tax deductible plan is July 31st, 2021 (with extension), lowering the amount of taxable income for 2020.

What does this mean?

You can now complete a preliminary tax return for 2020, see what the tax liability is and then design a Cash Balance Plan. In addition, you can receive further tax deductions, by lowering your taxable income with a Cash Balance plan.


How does it work?

  1. Complete a preliminary tax return for 2020.
  2. Evaluate your tax liability to decide on a pay credit that is practical for you.
  3. Trinity’s in-house Actuarial team will design a customized Cash Balance Plan.
  4. Enjoy additional tax credits, by lowering your tax liability for the 2020 tax year with your new Cash Balance Plan.

What’s next?

Interested in starting up a 2020 Cash Balance plan?

Contact you Regional Vice President/Retirement Plans by calling 877.206.629