Have you ever considered Owner Only Cash Balance plans?
Check out this example wherein the owner is making more than the 2013 maximum compensation limit of $255,000 and is 48 years old.
Based on the calculated 415 maximum lump sum, he can make an annual contribution of $125,824. Using the Smart Projection in the RPC Cash Balance, we see that he can make this contribution for 13 years without exceeding the 415 maximum lump sum. Then the owner must reduce contributions or terminate.
If he wants an even greater deduction, he may set up a 401(k) Profit Sharing plan and put away 6% ($15,300) in Profit Sharing, $17,500 in deferrals, and $5,500 once he reaches age 50. The Projection Summary Report here shows our example owner’s hypothetical balances in 13 years.