Qualified retirement plans offer pros and cons for practice owners and employees (Healio)

Choosing the right qualified retirement plan (QRP) is crucial for physicians, with options like defined contribution and defined benefit plans. These plans offer tax-deductible contributions, tax-deferred growth, and asset protection, but come with drawbacks such as contribution limits, mandatory employee inclusion, and management liability. Physicians must balance the benefits of tax savings and retirement security with the administrative and regulatory challenges of QRPs. Understanding the pros and cons helps tailor retirement planning to individual needs and financial goals.