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.
The maximum contribution amount limits the total amount of employer contributions and salary deferrals that can be made to the Plan, IU Retirement Plan, and the 403(b) plan portion (i.e., continued contributions) of the IU 18/20 Retirement Plan on behalf of an employee.