Retirement Plan Options

Attract and retain key talent by helping your employees prepare for retirement. A wide range of group retirement products and services exist that can help you maintain a long-term retirement strategy and enhance the benefits package for your employees.

Defined Benefit Plans

Commonly known as pension plans, defined benefit plans provide employees with a fixed benefit upon retirement that is typically dependent on salary, length of employment and age at retirement. Defined benefit plan services typically include:

  • Plan design, consulting, and actuarial services
  • Benefit payment processing
  • A comprehensive annual benefit statement for participants
  • Online access to personalized benefit estimates and other information

Defined Contribution Plans

The most common defined contribution plan is the 401(k), a company-sponsored, tax-deferred retirement savings plan. Growth in these plans typically depends on employee and/or employer contributions and investment selections. Companies of all sizes may offer them as a way to both attract and retain employees by helping them save for retirement.

Non-Profit Plans

Non-profit plans are integrated tax-deferred retirement plans specifically designed for non-profit organizations.

Non-Qualified Deferred Compensation Plans

Non-qualified deferred compensation plans are for companies with highly compensated employees whose ability to maximize plan contributions may be limited by the qualified plan.

Professional Employer Organization / Association Plans

Professional Employer Organization / Association Plans may be adopted by professional employer organizations and associations in order to provide 401(k) plan benefits to the employees of your client. The Multiple Employer Plan product is designed to streamline the adoption process and minimize the expenses associated with establishing and maintaining a 401(k) plan for participating employers or member firms. Through the Multiple Employer Plan structure, the participating employers or member firms may have limited fiduciary liability, reduced roles and responsibilities, and benefit from economies of scale as compared with establishing a single-employer plan.

Multiple Employer Plan services include:

  • A Multiple Employer Plan-dedicated Service Team
  • Targeted education and enrollment campaigns
  • Internet services for participating employers and participants
  • ADP/ACP, 402(g), 410(b), 415 and 416*
  • Government Form 5500
  • Individual amendments and legislative restatements

* Additionally §401(a)(4) and §414(s), as necessary

Taft-Hartley Plans

Taft-Hartley Plans are exclusively for labor unions to provide defined contribution and defined benefit plans to their members.

RS-20428-01 03/17

 

Securities and investment advisory services are offered through qualified registered representatives of MML Investors Services, LLC, Member SIPC.

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