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Retirement Plan Services

Retirement Plan Services. Retirement Plan Services (RPS) Overview. Our service approach Specialized team of experts Who to contact for questions Available Revenue Ways to enhance a plan for key employees. The RPS Difference. Customized retirement plan specific to the client’s needs

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Retirement Plan Services

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  1. Retirement Plan Services

  2. Retirement Plan Services (RPS)Overview • Our service approach • Specialized team of experts • Who to contact for questions • Available Revenue • Ways to enhance a plan for key employees

  3. The RPS Difference • Customized retirement plan specific to the client’s needs • Investment Management Approach • Plan level and participant level fiduciary support • We meet with the executives and the employees to develop a personalized retirement plan

  4. Data Needed For a Retirement Plan Review • Company Name, EIN and Address • Current retirement plan provider(s) • Plan Document • Breakdown of fees • Assets by investments including the expense ratios • Census data

  5. How to Identify an Opportunity • Data Scan – 1120, 1120S and 1065 • Payroll clients • Personal relationships • Corporate tax returns • Audit Clients • Personal tax returns • Your client mentions they are not able to defer enough money

  6. Retirement Plan Questions When you are posed with a retirement plan question, remember we are here to help. Call 1-800-791-8994 and ask to speak with: • Kevin Dement • Chris Manternach • Pam Goedken • In addition your FA is always there to help

  7. The Difference With Pricing Our Approach • All fees are disclosed • Revenue share is given back to the plan • Fee transparency via our Service Agreement • Fee Comparison • Plan is reviewed at least annually

  8. Revenue Opportunity Examples of the revenue that is available:

  9. How We Help Key Employees Defined Contribution Options Enhanced Contribution Options – • Key employees reach the IRS contribution limits ($51,000.00) • Limit the amount given to non key employees • Contributions are tax deductible

  10. How We Help Key Employees Cash Balance Defined Benefit Plan • Maximum IRS annual benefit $205,000.00 • Maximize the benefit to the executives while limiting the amount to non executives • Annual funding requirement • Guaranteed interest earned for participants • 3 year cliff vesting

  11. How We Help Key Employees Non Qualified Deferred Compensation Option • The advantage: • No contribution limit • No limit on vesting schedule • Freedom from most qualified plan requirements and 5500 not required • Client decides who is eligible • Total flexibility in the plan design

  12. How We Help Key Employees Non Qualified Deferred Compensation Option The areas of caution: • No current year tax deduction • Assets are subject to general creditors • Employees normally have to re-enroll each year

  13. A New Way to Work Together • When approaching a company to handle taxes, use HKFS services to show them a complete package. • Contact HKFS for your Retirement and Wealth Management needs

  14. 2014 Plan Document Restatement Document restatement – required every 6 years • HKFS will be informing clients of this requirement in 2014 • Clients will need to sign the new document • Opportunity to enhance their document at no additional cost

  15. Thank you for your time! Any questions?

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