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BOK Financial

Market-Rate Cash Balance Plan

Put our defined benefit plan experience to work for you

Sponsoring a defined benefit plan in today’s economy comes with challenges. BOK Financial can help you navigate these complexities.

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Here's how our market-rate cash balance plan can help:

Scenarios based on executives age 52 at separate companies with annual compensation of $330,000 with contributions to a company-sponsored 401(k) plan.

Graphic depicting executive #1

$30k annually

The maximum annual deferral is $22,500. However, since executive #1 is over age 50, she can contribute an additional $7,500 in “catch-up” contributions.

Graphic depicting executive #2

$280.5k annually

In addition to the first scenario, executive #2 has a cash balance plan in place and may be able to contribute up to an additional $250,500 in pre-tax income based on the specific demographics of his company.

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Are you searching for solutions to help accelerate saving for retirement and reduce taxable income beyond a 401(k) and profit sharing?

Consider a cash balance plan, which offers many advantages:

  • Maximize retirement contributions
  • Reduce taxable income
  • Recruit and retain key talent

With this defined benefit plan, participants' lump sum payments after retirement are determined in advance.

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Three questions to consider

Business owners deciding whether to offer a cash balance plan should ask themselves the following:

  1. Have I maxed out 401(k) contributions and profit sharing?
  2. Do I have an appetite and ability to put money in a cash balance plan for the next three years?
  3. Am I also willing and able to contribute 6% of employees’ pay to their retirement savings (6% total, taking into account all employer-offered retirement plans)?

Is a cash balance plan right for your business?

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Our market return cash balance plan allows you to credit the actual return on assets and reduces unexpected contribution amounts with consistent contributions and easily budgeted annual expenses. Learn more about how we can help you meet your retirement plan needs.

Award winning services

BOK Financial was nationally recognized for its retirement plan services excellence in PLANSPONSOR’s 2021 Defined Contribution Survey, a survey recognizing the top retirement plan providers in the nation based on the quality of participant and plan sponsor services.

  • #1 rank

    Best provider "overall"

  • #94

    Net promoter score1

  • 12

    "Best in class" awards2