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Our Company Employer-sponsored Retirement Plans - While you're working hard to expand your business, shouldn't your money be working just as hard to provide you with a secure retirement? And what about your employees? Many studies show that employees work better when they know their employer is helping them achieve a secure retirement. What plan is right for you? One important consideration is whether your company is a proprietorship, partnership, or corporation. Then think about how much your employees want to contribute, what your company may be required to contribute, and whether your company should take on some of the bookkeeping tasks to reduce cost. That's just the beginning of what you need to consider. At First Financial Group, we have helped companies, large and small, design customized plans for their employees' specific retirement needs. And once the plans in place, we can help you administer your plan and educate your employees to make the most of this essential benefit. Profit-Sharing and Money Purchase Plans - Businesses often combine a money purchase plan with a profit-sharing plan in order to maintain more flexibility, while preserving a higher contribution. Profit-sharing plans are one of the easiest qualified retirement plans to establish and are popular because they give the business owner complete flexibility in deciding how much to contribute annually, from 0-15% of the total plan payroll. Money purchase plans give employers less flexibility than other qualified plans, but allow for higher contributions to an employee's retirement account. Contributions are mandatory each year, but a business can contribute up to 25% of the total plan payroll, and the contribution can be raised or lowered to match changes in the business's goals by timely amendments to the plan document. IRAs at the Workplace - SEPs or Simplified Employee Pensions, are similar to personal IRAs and may be the simplest of all employer-sponsored plans. The employer establishes the account for the employee and decides each year whether or not to make a plan contribution, ranging from 0 -15% of an employee's salary. Because all money is a SEP belongs to an employee from the moment it's contributed, SEPs are a popular choice for the self-employed and independent contractors. SIMPLEs, or Savings Incentive Match Plan for Employees), like SEPs, can also be IRA-based plans. The main difference between SEPs and SIMPLEs is that SIMPLE plans are largely funded through employee contributions (up to $6,000 per year) taken from their paychecks on a tax-deferred basis. In a SIMPLE, employers are required to make either a matching or a non-elective contribution. SIMPLE plans are primarily for small businesses, since they are available only to businesses with 100 or fewer employees and which do not maintain any other retirement plan. Medical Benefits - Medical Benefits, or health insurance, are among the most valued of employee benefits. As they attract and retain employees, they provide your company with tax advantages while helping keep workers healthy and on the job. At First Financial Group, we have agreements with several major health insurance providers and will work closely with you to find the right mix of coverages that meet your company's needs. Depending on your location and number of employees, you may offer an HMO, point-of-service (POS) plan, preferred provider (PPO) plan, indemnity coverage, or a combination of these, all from one insurance company. Cost-effective laboratory testing services and prescription drug programs are also available. Dental and Vision Care - When it comes to healthcare, more and more employers are providing more than just basic medical benefits. Dental and vision care coverage are relatively inexpensive benefits to provide and are extremely popular with employees. You'd be surprised how little these popular benefits cost. Contact us to find out. Disability Income Insurance - If an employee is injured or becomes ill and unable to work, that doesn't eliminate his need for income or, in many cases, your obligation to provide it. At First Financial Group, our benefits consultants excel at putting together the right disability income package to ensure a source of income to disabled employees, while protecting your business from having to pay the salary of an employee who's unable to work. Group Insurance - Group Life Insurance can help protect your employee's beneficiaries in the event of the employee's death. It also gives older employees coverage they might not otherwise be able to afford if they had to buy it as individuals. We can help you select from a range of group life insurance products to meet the needs of all kinds of businesses. Even basic term life can include dependent life with substantial issue amounts and such features as optional accelerated life benefits, portability, accidental death and dismemberment, and waiver of premium. Group term is a policy that can help employees protect their families and ensure their financial security for the lowest possible cost. Employers generally pay most of the costs of the policy, which has low premiums through a group rating, simplified underwriting, and no individual solicitation. Group term insurance also provides dependent coverage to employees. Universal life is a permanent life product with cast-value accumulation potential at affordable group rates. It includes such options as disability waivers, accelerated life benefits, accidental death riders, and dependent riders.
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 Business Continuation Employee Benefits Executive Compensation Retirement Plans Etc. |
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