Employee Benefit Plans

Employers, does your benefits plan meet your company's needs while helping your employees meet their needs?

Click on the following links to assess your plans and allow us to review them for potential improvements. Taking the assessments will initiate a very informative third-party review of your retirement and benefit plans.

 

 

Then, talk to us about adding the Employee Financial Resource Program to your new or existing benefit plan. 

We work with employers and employees in the following benefit areas:

Retirement Plans

  • 401(k) profit sharing plans from Principal Financial Group, American Funds, Fidelity, Great-West Life, Hartford, John Hancock, Lincoln Financial, TransAmerica and others.
  • SIMPLE and SEP IRA's from Principal Funds, American Funds, Fidelity Investments and other mutual fund companies.
  • 403(b) plans from our profit sharing plan providers for our non-profit and exempt clients.
  • Employee Stock Ownership Plans (ESOP) for the employee-owned company structure.
  • Defined benefit plans such as traditional plans that provide a defined pension for employees.
  • Roth and traditional IRAs.
  • Rollover IRA strategies for employees that leave their employer prior to retirement.

Group Health Insurance

  • Providers include Blue Cross Blue Shield of MN, HealthPartners, and Medica.
  • Specialists in small groups (2-50 EE), large groups (>50 EE), and self insured (>100 EE)
  • Dental and vision insurance
  • Pre-tax HSA, FSA, HRA and POP plans to supplement and support group health, dental and vision coverage.

Group Benefits

  • Short-term disability (STD) and long-term disability (LTD), life insurance, and AD&D insurance.
  • We represent a wide variety of providers including, Assurant, Guardian, Lincoln, Principal Life Insurance Company, Sun Life Financial, and Unum.

Voluntary Group Benefits

  • VSTD, VLTD, term and permanent life insurance, dental, and vision insurance.
  • Long-term care insurance (LTCi).
  • Accident and cancer insurance.
  • From Providers such as AFLAC, Colonial Life, Principal Life Insurance Company, Unum, and others.

Voluntary Individual Benefits

  • Benefits typically can include individual disability income insurance, (VIDI), term and permanent life insurance, and long-term care insurance.
  • Provided within the workplace may allow for some discounts or group billing advantages.

Employee Financial Resources Program

  • Financial Strategies available for all employees.
  • Fee-based Executive Planning available for owners, executives, shareholders, and other employees designated by management.

Executive Benefits (recruit, retain and reward key employees)

The Executive 457(b) Retirement PlanSM & The Executive 457(f) Retirement PlanSM

  • Offered exclusively for tax-exempt organizations.
  • These organizations my offer nonqualified deferred compensation plan for a select group of highly compensated or management employees called the "Top Hat" group.
  • Organizations can provide additional retirement benefits to the exempt group outside the restrictive eligibility, vesting and contribution limitations of ERISA.
  • These two plans can work independently or in conjunction with each other.
  • The Executive 457(b) Retirement Plan allows the total of employee and employer contributions in excess of qualified plan contributions. The Executive 457(f) Retirement Plan has no contribution limits and participants may defer up to 100% of compensation.

The Executive Nonqualified "Excess" PlanSM

  • A defined contribution deferred compensation plan.
  • It helps bridge the retirement income gap that highly compensated employees (HCE's) often face due to limitations in their qualified retirement plans.
  • It allows select executives to defer income in "excess" of the qualified plan limitations up to 100% of their income on a pre-tax basis.

Long-term Care Insurance

  • Used to attract, retain and reward owners, shareholders and executives.
  • This coverage is a deductible business expense for the company, and a tax-advantaged benefit for the insured.

The Executive Nonqualified Defined Benefit Plan

  • A defined benefit deferred compensation plan.
  • It can provide supplemental retirement benefit to select executives in excess of qualified plan limitations on a pre-tax basis.

The Principal® Select Reward Plan

  • Employers select executives to receive a lump sum "reward bonus" payable upon reaching a pre-determined service date.
  • The employer can endorse a portion of a COLI death benefit to the executive for survivor income during the service period.

Split Dollar Life Insurance

  • Employers can provide a retirement and pre-retirement death benefit for selected key employees.
  • A nonqualified executive benefit where a life insurance policy is funded by a loan from the employer that are either repaid or forgiven, based on employer preference.
  • The employee owns the policy subject to a collateral assignment in favor of the employer that secures repayment of premium loans.