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Kiplinger
Kiplinger
Business
Kathryn Pomroy

Cash Balance Pension Plans: the Smart Way to Turbocharge Your Retirement

IRS
A wooden block with the word "retirement" on it, surrounded by stacks of coins, rolls of bills and a blurred piggy bank in the background.

Cash balance plans have become increasingly popular in recent years. Findings from FuturePlan by Ascensus suggest these plans are the fastest-growing sector of the retirement plan market, with more than $1 trillion in assets nationwide.

According to the firm's most recent data from its 2020 National Cash Balance Research Report, the number of new cash balance plans increased by 17% in 2018 from 2017, versus just 2% growth in new 401(k) plans.

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