Plans We Support
Plan Sponsors along with their providers and advisors are committed to helping employees meet their retirement goals and generate a lifetime of income
A well thought out plan design, strong plan management, carefully chosen investment options and an effective way of engaging participants in the plan are all needed to ensure participants are on track for financial well-being.
We will partner with you to select the program that best meets the needs of your organization and employees.
The plans we support include, but are not limited to:
A 401(k) Plan is a defined contribution plan, typically a profit sharing plan that contains a cash or deferred arrangement as described in section 401(k) of the Internal Revenue Code. A cash or deferred arrangement is simply an arrangement that allows plan participants to elect to defer a portion of compensation, their elective deferrals, and have it contributed to the plan on their behalf, typically through payroll withholding.
A 401(k) plan may allow participants to elect “Roth” tax treatment of all, or a portion, of their elective deferrals. Under Roth treatment, the elective deferrals are taxable when deferred, as opposed to the pre-tax treatment afforded to traditional 401(k) elective deferrals. These Roth contributions, under current law, can be distributed tax-free in the future.
In addition to making elective contributions, an employer may contribute to the plan by matching all, or a portion, of the elective deferrals or by making non-elective, or profit sharing, contributions to all eligible participants.
403(b) Plans are similar to 401(k) plans but are governed by section 403(b) of the Internal Revenue Code. These plans may, or may not, be subject to ERISA, depending on the involvement of the employer in the plan’s operation.
403(b) plans may include contributions in the form of elective deferrals, including Roth elective deferrals, matching contributions or non-elective contributions.
403(b) plans may only be adopted by certain eligible employers. Those employers include 501(c) (3) organizations, educational organizations and states (including political subdivisions or state agencies).
A Cash Balance Plan is a defined benefit plan that describes a participant’s accrued benefit as a hypothetical account balance or a single-sum amount. The term “cash balance” is used to distinguish this type of defined benefit plan from a “traditional” defined benefit plan. Generally, rules that are applicable to defined benefit plans are applied in the same manner to cash balance plans. However, because of the hypothetical account balances, cash balance plan accrued benefits can be reported in a manner more similar to a defined contribution plan.
457 Plans 457(b) plans may be maintained by a governmental employer (i.e., a State, a political subdivision of a State, or any agency or instrumentality of a State or political subdivision of a State). Rollovers are permitted to or from governmental section 457(b) plans.
457 Plans are ideal for:
• Governmental plans wishing to offer enhanced benefit packages to employees
• Creating a plan that is unique to the organizations needs