The Short AnswerThe 2024 Department of Labor filings list 42 Thousand Oaks and Newbury Park employers with a small defined benefit or cash balance plan, more than a third of the 115 across Ventura County cities. Their median plan assets are $2,585,314. 19th Hole Financial, based in Moorpark, serves owners and professionals here in person or on Zoom.
What Do The Pension Filings Show For Thousand Oaks?
Every year, employers with a defined benefit or cash balance plan file Form 5500 with the Department of Labor, and plans with a Schedule SB report their funding. We read the 2024 filings for small plans: 25 or fewer participants and a target normal cost (the actuary's measure of the cost of benefits earned in the year) of at least $100,000.
Thousand Oaks, with Newbury Park counted alongside it, has 42 employers in that group. Across their plans they report $129,344,947 in assets, and the median employer reports $2,585,314. The median across all 115 Ventura County employers is $2,402,250, so the middle Thousand Oaks employer sits above the county middle. The median target normal cost is $237,050, against $233,899 countywide.
Those totals are reported across each employer's plans, and they support benefits for all plan participants. They are not the balance of a single owner.
Which Kinds Of Businesses Sponsor These Plans In Thousand Oaks?
Healthcare and medical practices lead with 17 of the 42. Professional services firms (law, accounting, engineering and consulting) follow with 11, so 28 of the 42 fall into those two groups. The rest are 4 construction and contracting firms, 3 finance and insurance firms, 2 wholesale distributors, 2 retailers, and 1 each in manufacturing, arts and recreation, and education.
Practices and professional firms fill most of that list. Owners of businesses like these can compare a cash balance plan with a 401(k), a question for the plan's actuary and the owner's CPA. Physicians can start at tax planning for physicians, and owners of other companies at tax planning for business owners.
What Does It Mean When A Plan Is Terminating Or Overfunded?
Three of the 42 filings mark the plan as terminating. All three plans in the whole county data are in Thousand Oaks and Newbury Park. A terminating plan is one the employer is closing, which can follow a sale, a retirement or a change in the business, and what happens to the money depends on the plan document and the rules in force at that time.
Sixteen of the 42 report plan assets above 125% of the funding target, the actuary's measure of what the plan owes for benefits earned so far. When reported assets exceed 125% of the funding target, whether the plan has any surplus, and which rules apply to it, is a finding for the plan's actuary. Retirement tax planning and the Second Bill explain why the way money leaves a pre-tax plan can change the tax on it.
Which Questions Can A Thousand Oaks Owner Bring To A CPA?
- Which plans does the business sponsor today, and who is covered by each?
- If the practice or company sells, what happens to each plan, and in which year?
- How would the plan's funding level show up in the next actuarial report?
- Which of my income streams are wages, and which come from the business?
- What would a larger retirement deduction do to this year's projected taxable income?
Plan documents, entity type, filing status and timing can each change the answers, and this list is a starting point. The Tax Scorecard puts your own numbers next to the bill and the planning calendar with your CPA shows when each question comes up.
Is Westlake Village Included On This Page?
The city of Westlake Village is in Los Angeles County, so its filings sit outside the Ventura County counts above, and the employer counts here are floors for that reason. The practice serves Westlake Village owners and professionals the same way it serves Thousand Oaks and Newbury Park: in person nearby or on Zoom.
How Does Planning Start For A Thousand Oaks Owner?
The first call is 30 minutes on Zoom about your income, your goals and what you already have. Planning then moves through five meetings named after a round of golf, held in person around Ventura County or on Zoom. Your CPA, attorney and advisors keep their seats, and every decision stays yours. Pick a time for the first call, or return to tax strategy across Ventura County.
Common Questions
Does Newbury Park count as Thousand Oaks on this page?
Yes. The filing data counts Newbury Park with Thousand Oaks, so the 42 employers and every figure above include both. Newbury Park owners meet in person around Ventura County or on Zoom like everyone else.
Do these numbers describe Tyler's own clients?
No. They come from public Department of Labor filings by employers with small pension plans. They describe those filers and say nothing about any individual owner or about businesses that file nothing of this kind.
Does a Thousand Oaks practice need a cash balance plan?
Some businesses use one and many do not. When a business has eligible employees, participation and coverage rules can require benefits beyond the owner, and minimum-funding rules apply each year. The plan's actuary and the owner's CPA can say whether the design fits. Cash balance plans covers the basics.
Where can a Thousand Oaks owner meet Tyler?
In person around Ventura County, or on Zoom from anywhere in California. Tyler is a licensed California insurance agent, CA License #4102745, based in Moorpark.
