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Retirement Plans                                             

              

Retirement Plan Quote Form

Looking for a Retirement Plan Quote? Click any of the following links to submit a quote. 

Retirement Plan Information


Corporate Benefit Systems, Inc., is a full-service actuarial, consulting, and administrative services firm specializing in qualified plan design, installation, government compliance and administration. Our services are designed to help the plan sponsor maximize the value of their retirement plan. We utilize state-of-the-art technology and services to provide the most comprehensive services in the marketplace. This technology enables us to offer each of our clients a variety of service delivery options without sacrificing the personal service and expertise for which we are known. Corporate Benefit Systems, Inc. is proud to be a third party administrative services firm that can remain fully independent from investments, allowing us to work with a variety of investment professionals.  Whether a plan has 2 participants or 2,000, our commitment to the client remains the same. 

Our reason for being in business has remained unchanged for nearly 30 years.


Services

Effective retirement plans are tremendous opportunities for business owners and employees. At the same time they are complex, and subject to compliance with ever-changing laws and regulations. We will guide you through the complex processes of designing and customizing your plan for implementation. As a full service consulting and administration firm, partnering with us ensures the needs of your company and your employees will be met. We offer a full range of retirement plan services. Read below for details of the services provided.

ArrowPlan Design & Implementation

Starting with your employee census combined within a deep understanding of the company culture, we design the most efficient tax deferral strategy possible. A retirement plan can serve many purposes, from tax deferred income to attracting and retaining employees. Focus reassesses the plan design as the needs, goals and structure of the business change.

ArrowPlan Administration and Compliance Review

When Corporate Benefit Systems is administering a plan, we make sure you the people involved are “in the loop”. We will communicate with you about issues that may arise during plan operation and work with you to resolve them. We focus on designing and administering retirement plans that work. The core mission is to do what we do best to enhance your ability to do what you do best. When it comes to Government reporting we are here to make sure your plan is run properly and smoothly.

Corporate Benefit Systems does not stop our services after one-time involvement. Clients continue to need more, and we will continue to deliver what they need. Our comprehensive administration services routinely include no less than the following:

  • Questionnaire to update employer information to provide plan sponsor annual reports
  • Census requests to obtain updated information about employees
  • Analysis and reconciliation of all data with the trust
  • All compliance testing for the plan (and combined testing if there is more than 1 plan)
  • Allocations / additional benefits for participants
  • Preparation of signature-ready required government filings
  • Peer review process of all work for quality assurance
  • Meetings and consultations to present results and reports, and follow-up advice for enhancements, regulatory developments and cost control

ArrowPlan Administration and Compliance Review

ArrowConsulting


  • Correction programs
  • Assist with IRS and DOL Audits
  • Provide assistance with plan design changes.
  • Conduct special plan or participant benefit studies or projections

ArrowFree Analysis

What’s more cost effective than free?  We are confident that a free analysis will provide insight for you and your company. We will look under the hood and make sure your plan is cutting edge. What sets us apart is the creativity and sophisticated solutions we have provided to hundreds of plans.


Defined Contribution Plans

 

401(k)/403(b)/457/Roth Plans

Employee contributions, whether pre-tax or after-tax, to for-profit companies or not-for-profit companies allow employees to direct a portion of their pay on a tax-deferred basis.  Employees can either defer the maximum amount provided by law (adjusted each year by the IRS) or a plan-imposed limit.  And, there may be an extra amount contributed if a participant is at least age 50.

Profit Sharing Plans

The profit sharing plan is generally the most flexible qualified plan that is available. Company contributions are usually made on a discretionary basis. Each year the employer decides the amount, if any, to be contributed to the plan and they do not have be based upon actual corporate profits. For tax deduction purposes, the company contribution cannot exceed 25% of the eligible compensation of all eligible employees. Note, the IRS does limit the maximum eligible compensation that can be considered for any single employee.

Allocations to the individuals may be customized.  Some examples of profit sharing formulas are:

  • Flat percentage of pay– everyone receives the same percentage
  • Pro-rata percentage of the contribution – the contribution is allocated based upon an individual’s percentage of pay as compared to all eligible compensation
  • Contributions integrated with Social Security – participants receive a flat “base” percentage of pay while those earning over the Social Security taxable wagebase receive an additional percentage on this “excess” pay
  • Age-weighted – the older a person, the more the relative contribution
  • New Comparability / Cross-tested – by dividing the company into various business classifications, each class is provided a different level of benefit
  • Points – weighting various factors such as pay, age, service and giving contributions based on these criteria

 

ESOPS-

An ESOP is a type of defined contribution plan that provides participants primarily with company stock in their accounts. Participants are not buying the stock as they would in the open market. Shares are given to employees and are held in the ESOP trust until the employee retires or leaves the company, or earlier diversification opportunities arise. ESOPs provide business owners with a unique opportunity to create liquidity and diversification while using the ESOP to directly link employee productivity and performance all while providing significant tax benefits.


Defined Benefit Plans

 

Traditional Defined Benefit Plan

Defined Benefit Plans provide a fixed, pre-established benefit for employees usually based on a combination of projected pay and projected service at retirement. These plans are designed for expecting employees to spend their entire career at the same company.  Benefits are usually paid as an annuity during retirement. Some employers find defined benefit plans offer business advantages. For instance, employees often value the fixed benefit provided by this type of Plan. In addition, employers seeking higher annual contributions (and tax deductions) find these plans to be the best option.

Cash Balance

A cash-balance plan is a defined benefit plan with underlying features of a traditional pension, but with easier to understand benefits more closely resembling a profit sharing plan.  Like a traditional pension plan the employee doesn't invest any of their own money in the plan, nor do they have any responsibility for the investment choices. The cash-balance plan credits each participant’s account with a set percentage of salary each year, plus an interest rate that is applied to the balance. At retirement, these benefits may be paid as a lump sum rather than annuity payments of traditional pension plans. Additionally, these benefits are usually skewed to provide differing levels of benefits to various business classifications within the company. Cash Balance plans may be an integral component and perfect solution for them.





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23 Corporate Plaza
Suite 150
Newport Beach, CA 92663

Ph: 949.722.2323
Ph: 800.343.7330
Fx: 949.722.2334


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