Attracting & Retaining Key Employees: Retirement Plans
Your key employees are always one of your most important assets. One of the many ways you can reward them and continue to attract talent to your company is by helping them prepare for retirement. Our wide range of retirement products and services can help you and your company design and maintain a long-term retirement strategy for your employees.
What are Key Employee Retirement Plans?
Retirement plans are plans offered by employers to their key employees to help achieve income at retirement.
How are they used?
Different types of retirement plans may be offered as part of key employee benefit packages to attract and retain your top talent.
What are the benefits?
We offer a very broad spectrum of defined contribution/401(k), defined benefit, and non-qualified deferred compensation plans to help participants prepare for their retirement.
What are the different types of retirement plans that can help in attracting and retaining my key employees?
Defined Benefit Plans
Commonly known as pension plans, defined benefit plans provide key employees with a fixed benefit upon retirement that is typically dependent on salary, length of employment and age at their retirement. If you represent a company looking to help secure your employees’ futures by offering a fixed monthly benefit upon retirement, you should consider a defined benefit plan. Defined benefit plans can be a very powerful tool in the race to attract and retain top talent.
Often referred to as pension equity or cash balance plans, defined benefit plans provide key employees with a fixed monthly benefit upon their retirement. The benefit is typically dependent on the employee's salary, length of employment and their age at retirement. These benefits are promised by the company providing the plan and insured by the Pension Benefit Guaranty Corporation.
Our defined benefit plan services also include:
- Custom professional portfolio management
- Defined Benefit Plan design, consulting and actuarial services
- Benefit plan payment processing
- A very comprehensive annual benefit statement for participants
- Online access to personalized benefits, estimates and other individual information
Defined Contribution Plans
Most common of which are 401(k) plans, defined contribution plans are really company-sponsored, tax-deferred retirement savings plans for their employees. We have extensive experience by blending our technology, products, and personalized services to help you offer your key employees a defined contribution plan that is understood and appreciated by your employees.
Defined contribution programs are a very important way for companies to help their top employees prepare for their retirement. Defined contribution plans, including 401(k) plans are company-sponsored, tax-deferred retirement savings plans. Growth in these defined benefit plans typically depends on employee and/or employer contributions and other selections. Companies of all sizes may offer them as a way to both attract and retain key employees by helping them save for retirement.
Additionally, our program has been designed for plan sponsors and others looking to put together a diverse program for employees and clients. We tap into some of the most talented people in the industry to provide options to meet your employees' needs.
Our defined contribution plan services include:
- Internet services for plan sponsors and your participants
- A multiple manager program
- Creative and extremly informative communications
- Experienced relationship management to coordinate all the services
- Innovative monitoring systems
- A dedicated conversion team for your company
Non-Profit Plans
Non-profit plans are integrated tax-deferred retirement plans specifically designed for non-profit organizations. We provide non-profit organizations the retirement solutions and options they need to enhance their key employees' experience. Our blend of technology, products, communications and highly personalized financial services helps provide peace of mind for your non-profit retirement plan participants.
We offer all of our business clients an efficient way of managing all of their retirement plans, defined contribution (which include 403(b), 401(k) and 457(b) plans), defined benefit, and non-qualified deferred compensation plans. Our Total Retirement Services can lighten your workload and handle plan administration responsibilities. Our fully coordinated approach offers your company a single point of contact for plan design, compliance, administration and communications for all of your retirement plans.
Non-Qualified Deferred Compensation Plans
Non-qualified deferred compensation plans are for companies with highly compensated key employees whose ability to maximize plan contributions may be limited by the qualified plan. Highly compensated employees have unique financial needs. Working together with top talent in the retirement plan industry, we bring together all the elements you need to offer an attractive non-qualified deferred compensation plan to your key employees. NQDC plans are an option for helping these employees address their retirement needs while also helping your company attract and retain key executives.
All of our programs have been designed for plan sponsors and investment consultants looking to put together a diverse investment program for employees and clients. We tap into some of the most talented money managers in the industry to provide investment options to meet your employees' needs.
We offer the following services for non-qualified deferred compensation plans:
- Comprehensive plan design and consulting services
- Thorough plan documentation
- Professional trustee services
- Full 409a compliant recordkeeping and administrative services
- A professionally designed communication program
If you prefer to speak to someone about attracting and retaining key employees for your business call 866-866-2960
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