A cash balance plan is a type of defined benefit plan (pension) that acts like a defined contribution plan (401K). When private companies were trying to get rid of their expensive pension plans, many of them converted their pension plans into cash balance plans, since they cost the company less. Employees didn’t like this, as their benefits were often lower, but it does provide an option for a physician or similar professional to shelter some more money from Uncle Sam. In this episode we discuss how they work. If you found this podcast useful, visit our blog at http://whitecoatinvestor.com/ for more personal finance and investing information. Find an engaging and helpful community in our forum at http://whitecoatinvestor.com/forums/ This episode is sponsored by Adam Grossman of Mayport Wealth Management. Adam is a Boston-based advisor and works with physicians across the country. Unlike most other advisors, Adam offers straightforward flat fees for both standalone financial planning and investment management. Whatever stage you're at in your career, Adam can help you get organized with a personalized financial plan and can help you implement it with a low-cost index fund portfolio. Adam is a Chartered Financial Analyst and received his MBA from MIT, but more importantly, you'll benefit from Adam's own personal experience with many of the same financial obstacles and opportunities that face physicians. To learn more, visit Adam's website mayport.com/whitecoat to download a free e-book especially for physicians.