DB(k) Plan

Entrepreneurs competing with larger and better capitalized companies need to attract talent to grow, and are often unable to entice them, due to underfunded or non-existent benefits and retirement packages.

A DB(k) Plan is a combined defined benefits plan with a 401(k) retirement plan that was designed for small businesses. Like most government bureaucracy-heavy ideas, the theory is better than the reality. DB(k) plans are paperwork intensive due to IRS compliance requirements, and actually can wind up costing businesses a ton in admin costs.