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Listen as David chats with retirement plan expert Scott McHenry. David and Scott talk about Scott’s career path – from a position inside a large firm to the transition to his own firm about 15 years ago.

David and Scott then dive into Cash Balance Plans (CBPs). They discuss how these plans can be more favorable than other qualified plans, such as pensions, profit-sharing plans and 401(k)s, and define the type of practice or physician that is a good candidate for a CBP.

They wrap up with key success factors in implementing CBPs, how CBPs can work with 401(k)s, what happens if a CBP is terminated and how Scott and his firm work with physicians and practices throughout the U.S.

What You’ll Learn:

 Scott’s personal history and how he gravitated to math and finance

  • Scott’s decision to leave a large actuarial firm to create his own shop
  • What Cash Balance Plans (CBPs) are
  • How CBPs can be more beneficial than other types of retirement plans
  • The type of physician/practice scenario that is a good candidate for a CBP
  • The One Key Question to ask to see if a CBP is feasible
  • A misconception David had about CBPs before he learned more and saw client scenarios
  • Why CBP rules are unlikely to be phased out though politics and legislation
  • A few factors Scott thinks are crucial for a physician to understand about CBPs
  • How CBPs can be “layered in” with existing 401ks
  • What would happen to a CBP if a practice was merged or acquired
  • How Scott and his firm work with physicians and practices throughout the country


  • David Mandell: Bio
  • Scott McHenry Bio:

Scott McHenry is an Enrolled Actuary, a Fellow in the Conference of Consulting Actuaries, a Member of the American Society of Pension Actuaries, a Member of the American Academy of Actuaries, and a graduate of Miami University of Ohio.

Scott founded McHenry Advisers in 2006 and has grown it into one of the largest retirement actuarial firms in the country currently servicing over 1,200 Cash Balance and Defined Benefit Pension Plans.

McHenry Advisers is recognized as a national leader and provider of innovative qualified plan designs and retirement tax mitigation strategies.

Scott has consulted with over 3,500 qualified retirement plans of all sizes over the past 25 years, including 401(k), Profit Sharing Plans, ESOPs, Defined Benefit and Cash Balance Plans.