These plans are designed to supplement benefits that you, the employer, offer. Usually the employees pay for the plans, certain plans can be offered on a pre-tax basis and by paying that way it saves the employer FICA. Why wouldn’t you have these available?
Usually the employees pay for the plans, certain plans can be offered on a pre-tax basis and by paying that way it saves the employer FICA. Why wouldn’t you have these available?
These plans are designed to supplement benefits that you, the employer, offer. Usually the employees pay for the plans, certain plans can be offered on a pre-tax basis and by paying that way it saves the employer FICA. Why wouldn’t you have these available?
When employees pre-tax these benefits This plan saves you, the employer, FICA taxes on their premium costs.
Plans available:
Related to: Group Medical Consultants, Third Party Benefits Administrator (TPA), Employee Group Benefits, Group Life & Health Insurance
Usually the employees pay for the plans. Certain plans can be offered on a pre-tax basis and by paying that way it saves the employer FICA.
Some of the most common types of Voluntary Benefits plans are:
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
I highly recommend TPS Group and their quality third-party administration for our 403(b) plan. During our long relationship with TPS Group, we have never failed to be impressed with their level of expertise and outstanding customer service. They keep their promises and it’s easy to work with them. Having our own rep Lauren McNabb is a plus!
- Don Senecal
Malinda deserves special recognition. She is prompt, courteous, and professional. We find her to be extremely helpful to our business.
- Angela Simino
My go to professional is Des. A wonderful person to work with. We can count on him to handle all of our needs.
- Andrea Blakeslee
Our case administrator, Susan, has been absolutely wonderful and is a joy to work with. She is very knowledgeable, patient, answers all of my questions in a clear manner, and is professional.
- Kathy Townsend
Kathleen has helped me gather info and understand text so many times and is extremely valuable to myself and our company.
- Elizabeth Robison
For many years we’ve relied on TPS Group’s extensive knowledge and industry expertise to keep us in compliance with state and federal regulations as well as changes in the law. Their attention to detail is just what we need to keep our business operations running smoothly. They are a pleasure to work with and we highly recommend their services.
- Dan Neal
Dependable, experienced, and professional, our TPS Group recruiter was an invaluable resource, helping us locate and vet quality talent.
- Tyler R. Vunk
Posted on Sep 15, 2023
If you’re an employer with a SIMPLE IRA plan and want to switch to a 401(k) profit-sharing plan by January 1, 2024, you must notify employees by November 1, 2023. A 401(k) profit-sharing plan offers discretionary contribution employer matches or profit-sharing each year, with the amount determined by the company's financial wellness. »
Posted on May 10, 2023
Money is a leading cause of stress for many Americans, even those considered wealthy. Research shows that people worry about retirement savings, college tuition expenses, student loans, health care costs, credit card debt, and the ability to cover the monthly rent or mortgage payment. Employers are recognizing that these financial stressors can have a negative impact on employee productivity and overall well-being. »
Posted on Dec 6, 2022
The pre-tax advantages of a 401(k) plan make it a very effective way for employees to save for retirement and lower their tax burden. Since taxes on a 401(k) are deferred until funds are actually withdrawn, the premise is that in retirement, the individual will be in a lower tax bracket than while employed. »
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