October 25th Dinner Meeting
Join us for the next
EPC SKC Dinner Meeting
Wednesday, October 25th, 2017 at 4:30 P.M.
(NEW EARLIER TIME)
Speaker: Jim McKay, CFP
Topic: Cash Balance Profit Sharing Plans
James R. McKay
Jim is passionate about helping his clients reach their long-term financial objectives. He is a strong believer in that achieving financial security hinges on having the right plan, one that fits each clients unique circumstances and grows with them. Jim's greatest strength is listening to and understanding his clients needs, wants and wishes, to be able to help them work toward their goals.
Jim has been in the Financial Services industry since 1981. He is a founding shareholder of McKay Wealth Management, where he established the Business Succession and Retirement Plan departments. His knowledge and experience in these areas make him sought after by many in the industry. Jim is a CERTIFIED FINANCIAL PLANNER™, practitioner, maintains the Accredited Investment Fiduciary® designation and is an Investment Adviser Representative with Voya Financial Advisors, Inc. He is a life and qualifying member of the Court of a Million Dollar Round Table and a member of the Voya Circle of Excellence for over 10 years. He is also a Voya National Practice Leader for Succession and Retirement Planning for Closely Held Business Owners and is a member of the Voya ERISA Plan Investment Consulting (EPIC) program. Jim is recognized by the Financial Times as one of the Top 401 Retirement Advisors of 2015 for focusing in serving defined contribution and retirement plans.
Jim is a graduate of Seattle Pacific University where he also served as the president of Seattle Pacific University Falcon Club.
Jim enjoys spending his free time with his wife and riding his Harley. He appreciates classic cars and fishing the Columbia River and Puget Sound.
Cash Balance plans are an important component of the overall succession plan for business owners.
Cash Balance Plans allow the business owner to take some of the value out of their business (protected from creditors), while still working, rather than waiting for the “big sale” when they want to retire.
Contribution limits are higher than those inside of 401k / Profit Sharing plans
Beneficial to small professional organizations looking for large tax deductions
- Provides cost and tax efficiency
- Asset protection
- Ability to attract and retain talented employees