What is a cash balance plan and a defined benefit plan

Reference no: EM133214738

Assignment - Physician Group Practices Recommendations and Plan Discussion

Discussion A - 250 words

A compliance plan for a physician group practice must designed, implemented and enforced with the goal of preventing, detecting and correcting any potential for criminal conduct. The Office of the Inspector General of the US/Department of Human Services put forward recommendations for the development of the compliance program.

What are four of the recommendations that this branch of the government puts forward to the physician group practices.

Discussion B - 250 words

There are many different plans that are common retirement plan options for physicians within medical groups.

What is a 401K, a cash balance plan, a defined benefit plan, a profit sharing, and a SEP IRA? Are these plans taxable or non-taxable at the time of withdrawal by the physician and why?

Reference no: EM133214738

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