What is the Guru Amar Das Plan?
SS Guru Roop Kaur Khalsa, Sikh Dharma Development Office
Espanola, New Mexico, USA
The Guru Amar Das (GAD) Plan is a retirement savings funded with life insurance which allows the participant to make income tax deductible contributions to the plan, direct the investment of the plan funds and then receive retirement distributions from the plan free of income taxes.
The GAD Plan not only will provide tax free income to the participant, but will also provide a tax free death benefit to the participant’s family and to the non-profit of your choice via Amar Inc. / Infinity Foundation. Amar Inc. is the entity that has been established for generating funds for the non-profits of Sikh Dharma, 3HO, KRI and Sikh Dharma Education International.
Who Qualifies for the GAD Plan?
** Anyone who is one to sixty in age and wants to save money and receive an income tax deduction.
** A parent, child, grandchild or any insurable person who desires to obtain the GAD retirement and death benefits.
** A business entity such as a corporation, partnership, trust or limited liability company that wants to establish a benefit plan for any of its’ key employees.
** Partners or shareholders of a business that wish to purchase life insurance funding for a buy-sell agreement with tax deductible dollars.
** Any individual or couple who want to reduce their taxable estate and /or pay their estate taxes with tax deductible dollars.
** Any generous visionary person who desires to provide a legacy to fund Sikh Dharma with current and future monies to insure our perpetual financial security.
How Does GAD Compare to Other Retirement Plans?
** The GAD plan is the only plan which provides for both tax deductible contributions to the plan and tax free distributions from the plan.
** Other non tax qualified plans require contributions to be made with after tax dollars. Some non-tax qualified plans require income taxes to be paid on plan earnings thus reducing the amount of benefit such plan can provide.
** Qualified retirement plans allow contributions to be tax-deductible but require the retirement distributions to be taxed.
** Qualified retirement plans limit the amount of annual contribution that can be made to the plan, require the plan to cover all eligible employees, require setup costs and ongoing administration. Such plans also require penalties for early or late plan distributions and penalties for taking distributions which are too big or too small.
** The GAD plan has non of the restrictions or penalties that accompany tax qualified plans! No other plan has all of the features and benefits included with the GAD plan!
How Can I learn More About GAD?
Call the Development Office; we will have a customized GAD proposal drawn up which will be tailored to your personal needs and will show you how you and your family may benefit from this marvelous plan. You can reach us at Tel: (505)753-5881.