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Retirement Protection Plus Program

Retirement Protection Plus Program. Protection for Retirement Plan Contributions A Unique Benefit for Valued Employees. Disability insurance Policy Forms 1400 or 1500 underwritten and issued by Berkshire Life Insurance Company

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Retirement Protection Plus Program

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  1. Retirement ProtectionPlus Program Protection for Retirement Plan Contributions A Unique Benefit for Valued Employees Disability insurance Policy Forms 1400 or 1500 underwritten and issued by Berkshire Life Insurance Company of America, Pittsfield, MA, a wholly owned stock subsidiary of The Guardian Life Insurance Company of America, New York, NY. Policy provisions and features may vary from state to state. Retirement Protection Plus is not a pension plan or a substitute for one. 8563-11-09 2009-11697

  2. Your Business, Your People • You’ve worked hard to build your business and attract the best employees. • You also work to retain your people, by providing them with a strong package of benefits…including a retirement plan.

  3. Retirement Planning • Saving for retirement is one of the most critical financial issues you and your employees face. • But to assure an adequate retirement income, you must be able to work and contribute to your plan.

  4. A Question • If sickness or injury made you unable to work, what would happen to your retirement plan?

  5. Your Retirement Plan is Vulnerable • Contributions continue only as long as you remain on the payroll • Group and individual disability insurance do not cover retirement plan contributions

  6. What’s the Impact? • Individual age 35 works to age 65 and makes $1,500 monthly contributions to a defined contribution plan. $2,235,539* Age *Assumes annual rate of return of 8% on retirement contributions with no disbursements taken prior to age 65. This rate is for Illustration purposes only. Actual results may vary.

  7. Retirement Protection Plus • Helps to protect retirement income in the event of a serious disability • Pays benefits to replace lost retirement plan contributions

  8. How It Works • Funded by an individual disability income policy, or by a special rider attached to a policy • Can replace 100% of current retirement plan contributions, including employer contribution • Not a pension plan or a substitute for one

  9. How It Works • Benefits are paid directly into a special trust • Trustee is Berkshire Bank, Pittsfield, MA • Trust assets are invested by trustee at the disabled employee’s direction • Trust assets distributed at age 65

  10. Retirement Protection Plus • Simple to set up • May be employer-pay or voluntary • Employer sponsored discount may be available • You choose who is eligible

  11. For a Proposal… • Employees you wish to include • A few details on your firm’s retirement plan • How you wish to have program funded

  12. Retirement ProtectionPlus Program Protection for Retirement Plan Contributions A Unique Benefit for Valued Employees

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