H.R. Servs., Inc., NV has taken the position of customizing retirement plans to the needs of its clients.

This provides a more pragmatic approach to the requirements of each individual employer, rather than offering an off-the-shelf product.

There are both individual and employer plans with advantages and disadvantages to both.

Individual plans include I.R.A., I.R.A. Rollover and Simplified Pension Plans.

Employer plans include: Profit Sharing (includes 401k), Money Purchase Pension Plans and Defined Benefit Plans. There are also hybrid plans such as target benefit and employee stock ownership plans. Some of these plans allow employee pre-tax contributions such as a Salary Reduction SEP, 401(k) and 403(b) plans.

Some plans are “qualified” with the I.R.S. and require certain reporting as well as satisfying compliance rules (i.e. eligibility, vesting) established by law and Federal agencies.

Other plans are non-qualified (I.R.A.), have severe limitations, and very limited reporting. These are suitable for entrepreneurs where something simple and minimal is required. Another non-qualified plan would be deferred compensation arrangements between the employer and key executive. These programs can exclude rank and file employees, but have limitations with respect to control of the deferred amounts.

FOR MORE INFORMATION CONTACT US AT 1/800/798-5725 OR E-mail us.