Attorney Retirement Plans - Do You Need More Than a 401(k)?


Unfortunately, attorneys, like many other individuals, have witnessed their retirement plans shrink over the past year. The remaining monies left may hardly be enough to fund their retirement. Certain attorneys may have to work longer before they are able to retire.

One of the barriers to quickly replacing the lost funds is that simple 401(k) plan participants can contribute only $11,500 in 2010. A qualified profit sharing plan allows a maximum contribution of $49,000 in 2010.

Please see full article below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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