Retirement Plan Proposal - bencongroup.com

1 Retirement plan Proposal simple sophistication Introduction The Vision to Wisdom to Perform Since 1958, BCG has been providing plan When designing a plan we consider sponsors with creative solutions that meet allocation methods, types and number of their specific Retirement plan needs. plans, features, options that are appropriate, Throughout the decades, BCG has met the as well as any budgetary restrictions. We challenges of an ever- changing Retirement apply our training and years of experience plan environment and has provided its to provide more choices and flexibility, clients with the highest degree of service, which may not have been available to plan cutting edge communication systems and sponsors in the past. inspired design. BCG has the experience to design a plan to Our management team, with more than 250 meet the client's needs and has the systems years combined experience, is constantly to support it. It is the fusion of design and searching for ways to improve speed and technology.

2 When you choose BCG, you accuracy while keeping costs reasonable. It opt for innovation, experience and an is our goal to provide a quality product; unwavering commitment to excellence. responsive performance and a user-friendly system using advanced technology. Before designing a plan , we listen. What are the client's objectives? What type of plan best suits the client's business goals? What is a 401(k) plan ? Section 401(k) of the Internal Revenue income taxes, or most state and local Code permits employers to establish a tax- taxes, although they are subject to FICA. qualified plan that allows employees to taxes. In addition, the earnings from those defer a portion of their salary into a tax- contributions are excluded from taxation deferred trust. Contributions made by the until received, so the Retirement assets employees are not subject to federal grow more rapidly. Introduction continued Key Features of a 401(k) plan The most attractive feature of these tax- The 401(k) plan offers an unprecedented sheltered Retirement accounts is that your opportunity for all employees to contribution is not taxed as part of your conveniently save their earnings, TAX.

3 Annual income. That's right, no federal DEFERRED. income tax on the income until withdrawal of the money. Then, when an Even a small contribution will be employee retires or leaves the company, worthwhile to save over a period of years. he/she will receive the money contributed The key feature of the plan is that all along with the interest it has earned. investments and earnings grow tax- deferred until distribution. How Does Your plan Measure Up? Today's 401(k) plans are far from perfect. Recordkeeping and Administration: Are Most plans can benefit from a few minor the fees reasonable? Are the statements modifications while others may require a timely? Do they provide reliable complete overhaul. Companies must information? Are periodic employer regularly assess if they are living up to reports supplied? Is assistance with their responsibilities as plan sponsor and regulatory compliance provided? Is whether their employees' Retirement needs participant tax reporting handled are being met.

4 Is your company doing correctly? Is the plan administration enough to ensure that employees are accurate and flexible overall? making informed investment choices? Are your employees making investment Participant Education and decisions without adequate investment Communication: Do the plan materials knowledge? plan sponsors are discovering provide motivation to save for the future? they are increasingly being confronted by Do they promote learning? Is in-depth disgruntled plan participants. However, fund performance information provided? by addressing plan shortcomings now, you Is individual counseling and guidance can implement changes to improve your available? 401(k) plan and guide your participants toward achieving their Retirement goals. simple sophistication is a complete Retirement plan solution that satisfies even Investment Options: Are sufficient the most demanding plan sponsor. It choices available? Do they cover a broad combines experienced investment range of objectives?

5 Do the funds perform management, flexible recordkeeping and a well? Do they provide adequate returns focus on participant education with BCG's commensurate with their investment risk? strong core values: excellence, caring, Do they stay on course to their objectives? integrity, and team spirit. This Do they have qualified management? combination results in a comprehensive Retirement program that assists plan sponsors in helping employees plan for a financially secure Retirement . Recordkeeping Services & plan Features Award Winning Service, Accurate Answers, Responsive Solutions The cornerstone to a sound Retirement complete service, Benefit Consultants program begins with the quality of service Group has developed an advanced provided. changing complexities and computerized Retirement plan service ever-increasing government regulation system. require total administrative and recordkeeping competence. Benefit This system works through an elaborate Consultants Group prides itself on the database that maintains complete records of development of what can be considered the coverage in all Retirement plans one of the most detailed and flexible serviced by Benefit Consultants Group.

6 Administrative and recordkeeping systems in existence today. The continued growth of Benefit Consultants Group's data processing Many of the Benefit Consultants Group's department is a reflection of its leadership clientele are small to medium sized commitment to provide the best service businesses and professional corporations obtainable in the benefit plan field. lacking the resources to handle administrative bookkeeping and reporting BCG offers a fully comprehensive functions that Retirement plans entail. As recordkeeping and administrative solution part of the commitment to provide that includes the following: Signature Ready 5500 Participant Loans Daily Valuation Hardship Withdrawal Toll-Free 24 Hour/7 Day Response System Enrollment Materials (English & Spanish) (Auto Enrollment Available). Interactive Internet Access Conversion Specialist Call Service Center with Live Client Sponsor Support / Reports Service Representatives (English & Spanish) Trustee Services Available Quarterly Participant Smartstatement Benefit Payments/Distributions Year-End Compliance Testing Direct Rollovers Electronic Submission of Data Single or Multi-Mutual Funds Prototype and Custom plan Documents Installation Guide Summary plan Description (SPD) Administrative Manual Multiple Investment Choices Tax Withholding and Reporting Self Directed Brokerage Accounts Custom plan Design Benefit Consultants Group has been similar, the motivation and objectives of designing and administering Retirement each employer are very specific.

7 Before plans for more than 45 years. Designing the designing any plan , we listen. Our ideal Retirement plan solution is a detailed Consultants design every plan we service process unique to every employer adopting to ensure the plan meets the goals and a plan . One size does not fit all. While the objectives of your business. advantages of any Retirement plan may be BCG Experts Include: ERISA Attorneys Certified Public Accountants (CPA's). Certified Pension Consultants (QPC's) Qualifed Pension Administrators (QPA's). Enrolled Actuaries Qualified 401(k) Administrators (QKA's). plan Design Considerations Include: Identifying your plan objectives Recent Legislative opportunities What type of plan (or plans) will suit your Desired features business goals Flexibility Custom allocation methods Employee Education &. Communication Services The 401(k) plan has become the primary relationship between risk and reward, and Retirement savings vehicle for millions of the benefits of tax-deferred compounding.

8 Americans and the primary Retirement benefit program offered by companies of all The absence of an ongoing education sizes. In the past 10 years, 401(k) plans have program can greatly affect a participant's changed the way Americans save ability to make appropriate investment for Retirement . decisions. The lack of such a program can also have a serious impact on the Most participants choose the most plan sponsor. conservative fixed-income investments for their Retirement dollars. Many experts agree Recent Department of Labor regulations these people are unlikely to achieve the under section 404(c) of ERISA clearly long-term investment results needed to place fiduciary liability on plan sponsors overcome the eroding effects of inflation; who fail to supply participants with the they may never achieve their goal of a information necessary for making informed comfortable Retirement . investment decisions. In many cases, these problems have The key to meeting the requirements of occurred because plan participants have not these new regulations is for plan sponsors to been educated about their investment offer their employees flexible and options, or about investment concepts such comprehensive on-going communication as the importance of diversification, the and education program.

9 Participant Communications Many challenges face plan participants as Our series of communication and they strive for Retirement security. education steps offers valuable ongoing Difficult conditions in the financial information to assist participants in markets, as well as competing household dealing with these realities. priorities, have made saving for the future more problematic for many participants. Employee Education and Communication Services Group Employee Multi-Media Presentation* Toll free Client Service Center *. (English or Spanish). One-on-one Employee Meetings Participant Account Internet Access Custom Enrollment Materials Retirement and Financial Planning Software On-going Educational Services for plan Participants Quarterly Participant Smartstatements and Quarterly Newsletter (may be mailed to Voice Response System participants' home at no charge). (English or Spanish). Quarterly Employer Reports *Group and one-on-one employee meetings are encouraged on a regular basis to promote the Retirement plan and ensure employee participation.

10 Schedule of Fees for Services Summary of 401(k) plan Benefits Why a 401(k) plan The dynamic growth experienced in the 401(k) market is the result of numerous advantages to both plan sponsors and plan participants. Some of the advantages include: To the plan Sponsor: A way to share responsibility for An opportunity to tie productivity and Retirement planning with employees. profitability together in the form of profit- based matching contributions. Flexibility in determining annual contributions to a Retirement plan . A chance to promote financial security for employees while demonstrating responsiveness to employee concerns. To the plan Participant A tax shelter opportunity like no other A diversified investment portfolio available savings program. Participants will be able through a choice of investment options. to increase their take home pay by reducing the amount of Federal Income A convenient and flexible way to save: taxes they pay.