Big Opportunities

There has never been a better time to be in the Small Business Retirement market. Congress has made the tax laws to encourage the establishment of small business retirement plans. The laws and the enhancements make the qualified plan much more appealing to the small business owner and their employees.

In the small business market, it is no secret the appeal of a retirement plan is directly related to the benefits provided to the owner. With some of the newer plan designs qualified plans to a large degree benefit the owners yet they still create a meaningful plan for the employees.

Our reps have been getting a lot of traction going down this path. Revisiting clients and asking questions is a great way to open the door. And believe me, the Pension plan is a great “Door Opener.”

One existing design that is working well and creating curiosity is the New Comparability Profit Sharing Plan. This plan design has two goals:

  1. Give the owner the largest possible share of the contribution.
  2. Add flexibility to the plan to benefit different employee groups.

This type of flexibility has never been available in any type of plan in the past. If you can provide this design with the flexibility inherent in a profit-sharing plan (flexible contributions) then you can create a plan for the owner that is very appealing and will also get the go-ahead from the CPA.

We can help you get started on this path. All we need is a census to design a plan for you. Or if there is an existing plan, contact us about our Retirement Plan Review process. Pension plans are good business and in the Small Business arena it is a Big Opportunity.


About Jeffrey Berson

40 years in and around the industry has made Insurance a part of my DNA. I have had the pleasure of working with and for some of the greatest minds in our industry. My "Bersonal" View is an attempt to capture some of the best ideas, the best concepts and the best practices in a way that can lead to success for others. It will certainly be my point of view, so please...don't take it "Bersonal".
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