Pros and cons? To stack on current 401K.

Pros are you can defer a lot more pre tax. Cons are high administration costs and hassle factor and you need to be committed to doing it for at least a few years.

I finally created on in 2025. If you are a small business owner or have a passthrough LLC, only start it if you make a very very large income. I would say think high six figures or more. Otherwise just max out a Sep IRA for 72K.

Also be sure you have funds set aside if your income drops to fund the CBP the next 6+ yrs.

I was able to create a CBP/Retirement plan for my wife & I deferring over 500K which made all the work/expenses worth it. Looking back, I would not have done one if I could only defer anything under 250K.