• “I appreciate the ability to shelter even more of my income from taxes.”
     S. Chin, MD
     Emergency Medical Associates

 

 

 

Increased Tax Deferred Savings for the Large Physician Group

Large Group Plans

Many physician groups have established retirement plans that allow their physicians to contribute $49,000 annually, but did you know that you can set up retirement plans that will allow your physicians to save $90,000 (tax deferred) or more each year?  MedAmerica Financial Services has the plan for you.

MedAmerica Financial Services, Inc. has designed these retirement plans for 4 large hospital based physician groups through the nation and, along with their partner Schwab Retirement Plan Services, currently administers plans with 3,000 participants totalling over $400 million.  These plans have been in place since 1987 and will provide the following:

Benefits:

  • Allows individual physicians to increase their tax sheltered contributions by as much as $35,000 or more ($90,000 or more total) over their current plan.  100 physicians contributing $10,000 more each year will combine to save $300,000 each year in taxes!
  • Allows physicians to invest in virtually any liquid asset.
  • Meets all regulatory requirements of the Internal Revenue Service and Dept. of Labor
  • Plans can accommodate any group structure (Corp. / Partnership / LLC / LLP)
  • Plans are easy to set up, integrate with your payroll provider, and provide your group with a major recruiting benefit
  • MedAmerica Financial Services coordinates all administration, plan communications, regulatory updates, annual audits, and investment policy reviews

Drawbacks:

  • In order to increase the savings potential of the physicians, the Group may be required to increase matching or profit sharing contributions to all non-physicians.
  • Unfortunately (for the group’s recruiter), the plans allow so much saving that physicians may opt to retire early.  Sorry!
 

 

 

 

 

 

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