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Physician Retirement Plans and the recent DOMA Rulings

By Kari Middleton, Financial Advisor Medical Wealth Management   On June 26, 2013, the U.S. Supreme Court ruled Section 3 of the federal Defense of Marriage Act (DOMA), which had prohibited the federal government from acknowledging same-sex marriages, was unconstitutional. In a related case, the court found that those challenging the state court decision making same-sex marriage legal in California (Proposition 8) lacked standing to do so, restoring legal same-sex marriage in California. Same sex marriage is now legally recognized in 13

Non-Qualified Deferred Compensation Plans for Medical Professionals

By Kari Middleton LPL Financial Advisor, Medical Wealth Management Non-qualified deferred compensation (NQDC) plans are contractual obligations of an employer to an employee, independent contractor, or even a director to pay them a benefit in the future. Physician groups can create these plans for a select group of management or highly compensated employees, including owners and partners. This sort of plan is frequently called a “top hat” plan as it’s a plan for a few select employees, not all employees. There are several things

Consider a Cash Balance Plan

By Kari Middleton, Investment Consultant, Medical Wealth Management A Cash Balance or Hybrid Plan is a type of IRS qualified retirement plan that features characteristics of both defined benefit and defined contribution plans. It combines the high contribution amounts of a defined benefit plan with the look, feel, and portability of a defined contribution plan. Cash Balance plans are the fastest growing type of retirement plan design available.* As opposed to a 401(k), a Cash Balance Plan allows for significantly larger contributions which
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