Beckham County, Oklahoma. Beckham County is a county located on the western border of the U.S. state of Oklahoma. As of the 2010 census, the population was 22,119. Its county seat is Sayre.
Implementing and funding a Cash Balance Plan could substantially increase tax-deductible contributions resulting in significant tax savings to business owners. Under a 401(k) profit sharing plan, the 2013 maximum deductible contribution for an individual is $51,000 (or $56,500 for individuals over the age of 50). However, when a Cash Balance Plan is combined with a 401(k) plan, the deductible contribution for an individual can exceed the 401(k) plan maximum by a sizeable amount.
In 2014, the IRS did not adjust the maximum contribution from the previous year. But this year, the maximum contribution to retirement accounts, which include 401(k) accounts, 403(b) accounts, most 457 plans, and Thrift Savings Plans, will be $18,000, up $500 from $17,500.hatâs up from a total of $23,000 in 2014. The total contribution limit, including employer contributions, has increased from $52,000 to $53,000. The benefits of a 401(k) plan are designed to be directed primarily at people who most need an incentive to save for retirement.