BUSINESS FINANCIAL SERVICES
Employer-sponsored benefit and insurance programs are an important component of an organization’s ability to attract and retain talented individuals. Sifting through these products and concepts to gain an adequate understanding of each requires significant amounts of time, resources and knowledge.
Our access to the marketplace and comprehensive provider research and analysis can help you narrow the field and identify products that are right for your business. In addition to 25 plus years of experience, we have developed numerous organizational tools and product differentiation models designed to help simplify the process and save you valuable time and money.
As an independent financial services network, we provide objectivity, expert advice and custom services to help accomplish your benefit and insurance objectives.
EMPLOYEE RETENTION BENEFITS
Whether you’re starting a new benefit program or enhancing an existing one, Group Insurance and related Benefit Plans are critical components of your total compensation program. We will help prioritize your objectives, provide a framework to monitor your progress and organize critical components of your plan to evaluate the costs and benefits on an ongoing basis.
At R. J. Welsch & Associates, we help prioritize your objectives, provide a framework to monitor your progress and organize critical components of your plan(s) to evaluate the costs and benefits on an ongoing basis.
In addition, we have developed organizational tools to summarize the key components of each benefit in your plan for comparison shopping and renewal analysis. Since we are are independent service provider, we are able to represent any of the major insurance providers in the industry.
Products and Services:
Group Health Insurance
Group Dental
Group Vision
Group Life Insurance
Group Short & Long Term Disability
Full Flex Cafeteria Plans/Section 125
Health Savings Accounts (HSA's)
Voluntary Benefit Plans
Multiple Funding Strategies (Fully Insured, Partially Self-Funded, Self-Funded)
Long Term Care
Medicare
BUSINESS PLANNING SERVICES - Owner / Executive Plans
There are many circumstances whereby an employer wants to provide benefits to owners and executives on a selective basis. Most Group Benefit Plans however, have participation requirements, compliance issues and anti-discriminatory constraints. Offering special compensation to reward top talent and key players is an important means of protecting your human assets. For this reason, we have developed several Owner/Executive Plans to supplement your standard benefit programs and target those most responsible for the success of your operation.
Common Owner/Executive Plans:
Key Man Insurance - Key Man insurance is simply life insurance on a key individual in your business. In a small business, this is usually the owner, the founders or perhaps an individual or two who play crucial roles in the business. (This is a person whose absence could severely affect the businesses ability to function.)
Deferred Compensation Plans - Deferred compensation is an arrangement in which a portion of an employee's income is paid out at a later date after which the income was actually earned. Examples of deferred compensation plans include pensions, retirement plans and employee stock options.
Executive Compensation Plans - These are typically financial payments as well as non monetary benefits that an organization provides to top level management for their work on behalf of the company. Executive compensation packages are typically offered to company presidents, CEO's, CFO's, VP's, Managing Directors or other high level executives.
Salary Continuation Plan - This type of plan typically describes in writing, before any disability occurs, what an employer will provide to the employee in the event the employee becomes disabled. This plan could include an agreement that the company would continue to pay all or part of an employee's salary should they become disabled.
Employee Bonus Plans - Employee bonus plans outline the policy in which the company will follow in paying out bonuses to their employees. These plans typically include details on eligibility, the circumstances under which bonuses are paid and how amounts are determined.
Split Dollar Agreements - This type of arrangement is where the employer helps an employee purchase life insurance. The policy can be used as an incentive or as a form of deferred compensation and can be beneficial for both parties involved. It is an arrangement in which the employer and the employee share and split the policy. The policies can be split in a number of ways: Cash Values, Premiums, Death Benefits, Ownership or Dividends.
Buy/Sell Agreements - A buy-sell agreement (also known as a buyout agreement) is a legally binding agreement between co-owners of a business that governs the situation if a co-owner dies or is otherwise forced to leave the business, or chooses to leave the business. An insured buy-sell agreement (triggered buyout is funded with life insurance on the participating owners lives) is often recommended by business succession experts and financial planners to ensure that the buy-sell arrangement is well-funded when the buy-sell event is triggered.
Golden Parachute - This is a large payment or other financial compensation guaranteed to a company executive should the executive be dismissed as a result of a merger or takeover.
Business Continuation Planning - This is the process of creating a plan or a set of documents, instructions and procedures which will enable a business to respond to accidents, disasters, emergencies and or any other threats without hindrance to the company's operations.
Retirement Plans
At R. J. Welsch & Associates, we specialize in a total solutions approach to the employer-sponsored retirement plan marketplace. Our approach begins with plan design to help ensure your plan document maximizes benefits while maintaining optimum flexibility.
Our provider analysis includes extensive research of existing administrative and investment providers and because our Broker/Dealer is independent with no proprietary products, our provider selection process is completely objective. Plan implementation, employee education and proactive communication are all critical parts of a successful program and are fully supported by our organization.
Process:
Products:
401k Plans
Profit Sharing Plans
Defined Benefit Plans
Third Party Administation
Bundled & Unbundled Products
SIMPLE Plans
SEP Plans
Employer-sponsored benefit and insurance programs are an important component of an organization’s ability to attract and retain talented individuals. Sifting through these products and concepts to gain an adequate understanding of each requires significant amounts of time, resources and knowledge.
Our access to the marketplace and comprehensive provider research and analysis can help you narrow the field and identify products that are right for your business. In addition to 25 plus years of experience, we have developed numerous organizational tools and product differentiation models designed to help simplify the process and save you valuable time and money.
As an independent financial services network, we provide objectivity, expert advice and custom services to help accomplish your benefit and insurance objectives.
EMPLOYEE RETENTION BENEFITS
Whether you’re starting a new benefit program or enhancing an existing one, Group Insurance and related Benefit Plans are critical components of your total compensation program. We will help prioritize your objectives, provide a framework to monitor your progress and organize critical components of your plan to evaluate the costs and benefits on an ongoing basis.
At R. J. Welsch & Associates, we help prioritize your objectives, provide a framework to monitor your progress and organize critical components of your plan(s) to evaluate the costs and benefits on an ongoing basis.
In addition, we have developed organizational tools to summarize the key components of each benefit in your plan for comparison shopping and renewal analysis. Since we are are independent service provider, we are able to represent any of the major insurance providers in the industry.
Products and Services:
Group Health Insurance
Group Dental
Group Vision
Group Life Insurance
Group Short & Long Term Disability
Full Flex Cafeteria Plans/Section 125
Health Savings Accounts (HSA's)
Voluntary Benefit Plans
Multiple Funding Strategies (Fully Insured, Partially Self-Funded, Self-Funded)
Long Term Care
Medicare
BUSINESS PLANNING SERVICES - Owner / Executive Plans
There are many circumstances whereby an employer wants to provide benefits to owners and executives on a selective basis. Most Group Benefit Plans however, have participation requirements, compliance issues and anti-discriminatory constraints. Offering special compensation to reward top talent and key players is an important means of protecting your human assets. For this reason, we have developed several Owner/Executive Plans to supplement your standard benefit programs and target those most responsible for the success of your operation.
Common Owner/Executive Plans:
Key Man Insurance - Key Man insurance is simply life insurance on a key individual in your business. In a small business, this is usually the owner, the founders or perhaps an individual or two who play crucial roles in the business. (This is a person whose absence could severely affect the businesses ability to function.)
Deferred Compensation Plans - Deferred compensation is an arrangement in which a portion of an employee's income is paid out at a later date after which the income was actually earned. Examples of deferred compensation plans include pensions, retirement plans and employee stock options.
Executive Compensation Plans - These are typically financial payments as well as non monetary benefits that an organization provides to top level management for their work on behalf of the company. Executive compensation packages are typically offered to company presidents, CEO's, CFO's, VP's, Managing Directors or other high level executives.
Salary Continuation Plan - This type of plan typically describes in writing, before any disability occurs, what an employer will provide to the employee in the event the employee becomes disabled. This plan could include an agreement that the company would continue to pay all or part of an employee's salary should they become disabled.
Employee Bonus Plans - Employee bonus plans outline the policy in which the company will follow in paying out bonuses to their employees. These plans typically include details on eligibility, the circumstances under which bonuses are paid and how amounts are determined.
Split Dollar Agreements - This type of arrangement is where the employer helps an employee purchase life insurance. The policy can be used as an incentive or as a form of deferred compensation and can be beneficial for both parties involved. It is an arrangement in which the employer and the employee share and split the policy. The policies can be split in a number of ways: Cash Values, Premiums, Death Benefits, Ownership or Dividends.
Buy/Sell Agreements - A buy-sell agreement (also known as a buyout agreement) is a legally binding agreement between co-owners of a business that governs the situation if a co-owner dies or is otherwise forced to leave the business, or chooses to leave the business. An insured buy-sell agreement (triggered buyout is funded with life insurance on the participating owners lives) is often recommended by business succession experts and financial planners to ensure that the buy-sell arrangement is well-funded when the buy-sell event is triggered.
Golden Parachute - This is a large payment or other financial compensation guaranteed to a company executive should the executive be dismissed as a result of a merger or takeover.
Business Continuation Planning - This is the process of creating a plan or a set of documents, instructions and procedures which will enable a business to respond to accidents, disasters, emergencies and or any other threats without hindrance to the company's operations.
Retirement Plans
At R. J. Welsch & Associates, we specialize in a total solutions approach to the employer-sponsored retirement plan marketplace. Our approach begins with plan design to help ensure your plan document maximizes benefits while maintaining optimum flexibility.
Our provider analysis includes extensive research of existing administrative and investment providers and because our Broker/Dealer is independent with no proprietary products, our provider selection process is completely objective. Plan implementation, employee education and proactive communication are all critical parts of a successful program and are fully supported by our organization.
Process:
- The process begins with needs analysis, plan design and process consultation. We will organize and summarize the key components (Fees and Features) of your existing plan (if applicable) in a format to allow for easy on-going review and maintenance.
- We identify the appropriate product based on your needs and complete a comprehensive provider analysis.
- Product and service alternatives are introduced, discussed and selected. You have an opportunity to evaluate additional provider representatives.
- Employee communication and education, compliance issues, fiduciary liability, administration and plan transfer details are discussed.
- A plan and process implementation strategy is created.
- Your final plan is updated into one of our simple and effective organizational tools for future plan maintenance and monitoring plan performance.
Products:
401k Plans
Profit Sharing Plans
Defined Benefit Plans
Third Party Administation
Bundled & Unbundled Products
SIMPLE Plans
SEP Plans