Retirement Program

Provider: Corporate Coverage Contact: Tim Thompson Phone: 410.561.2223 E-mail: tim@corporatecoverage.com

 

Background:
Established in the Winter of 2001 in response to high turnover in the foodservice industry. This program is designed to assist in rewarding, retaining and recruiting key employees.

Benefits:

Executive Retirement Planning

• Specifically designed for highly compensated executives
• A cost-effective way to compensate yourself and key executives
• Can be customized to fit individual needs
• No limits on allowable contributions

New Comparability Profit Sharing (geared for small companies)

• Permits one to shelter, on pre-tax and tax-deferred basis up to $30,000 per year.
• 50% savings on fees
• No annual administration fees
• Typically enables owners and key executives to receive between 75 and 90% of the company's profit sharing contributions

401(k)

• Low or No startup costs
• Save up to 100% of annual administration and per-participant fee
• Reduced asset management fees
• State-of-the-art features with more than 20 investment options.

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