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Creative Plan Design

Creative Plan Design in Dayton, OH

At The Pension Service, we are committed to provide the highest quality actuarial, consulting and retirement plan administration services by listening carefully and being responsive with creative solutions that meet the unique needs and objectives of our clients.

Creative Plan Design

At The Pension Service, we are committed to provide the highest quality actuarial, consulting and retirement plan administration services to companies in Dayton, OH by listening carefully and being responsive with creative solutions that meet the unique needs and objectives of our clients. One of the ways we do this is by utlizing our talented in-house actuarial staff to design sophisticated plan designs to better satisfy the retirement needs of our clients.

The TPS Group Difference

  • Local expertise.
  • Comprehensive Plan design services to determine the best plan(s) for the client.
  • Available to attend meetings to further explain these plan designs to the client.
  • Enrollment support.
  • Customized service support and state of the art systems.
  • Streamlined integration and transfer of money.

Fundamental Questions to Design Your Plan

QUESTION #1: Whom do you want in the plan and when?

  • Minimum Age: Age 21 or less
  • Maximum Service: 1 year or less, unless Profit Sharing only; 2 years or less
  • Exclusions: Union, Nonresident alien, leased employees
  • Entry Dates: Immediate, Monthly, Quarterly, Semi-Annual – January 1 or July 1

QUESTION #2: What are the sources of money and who receives it?

  • 401(k) Pre-Tax or ROTH Post-Tax Salary Deferral
  • Safe Harbor Match (Basic and Enhanced)
  • 3% Safe Harbor Non-Elective
  • Additional Match
  • Profit Sharing Contribution
  • Other Employer Contribution (Cash Balance Pension Plan)

QUESTION #3: Who can access the money and when?

  • Loans
  • Financial Hardship
  • In-Service withdrawal at age 59½ or Normal Retirement Age
  • Death
  • Disability

QUESTION #4: How to invest the money?

  • Participant vs. Trustee directed

Through plan designs such as safe harbor plans, new comparability profit sharing plans, defined benefit and cash balance plans, we can help find a solution that is right for you. 

Call us at 855-828-2229 or contact us to learn more about our creative retirement plan design services in Dayton, OH!

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Frequently Asked Questions

What is a Roth 401(k) Plan?

A Roth 401(k) is an increasingly popular option within a 401(k) plan that represents a combination of features of the Roth IRA and a traditional 401(k) plan. In a traditional 401(k), you contribute income pre-tax, and then pay taxes on the funds when you withdraw them during retirement.

By offering a Roth 401(k) option, employees can elect to pay the taxes upfront allowing them to make withdrawals tax-free during their retirement.

Under the Roth 401(k), employees may contribute funds on a post-tax elective deferral basis, in addition to, or instead of, pre-tax elective deferrals under their traditional 401(k) plans.  

Reviews

We look forward to working with TPS Group next year

We look forward to working with TPS Group next year

As another year ends, I want to express my sincere gratitude and appreciation to you and TPS Group for assigning us Krista Blier. Krista provides exceptional customer service and has been a major asset to me and Lynch, Traub, Keefe & Errante, P.C. She is extremely knowledgeable and always accessible. Always on top of the RMD’s, giving me an explanation on form 5500-SF to present to Mr. Keefe & keeping us updated with any account changes as well as specifics. It is a relief knowing I have full faith in Krista and can turn a blind eye to our account. I cannot tell you how many vendors/brokers I have to stay on top of and babysit to make sure our deadlines are met and to perform their job duties. Krista is a pleasure to work with and we look forward to working with her and TPS Group next year.

- Michael Panela

Contact us about Creative Plan Design in Dayton, OH

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