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- Pension Plans
- Profit Sharing Plans
- 401(k) Plans
- 403(b) Plans
- Deferred Compensation Plans
- Simplified Employee
- Pensions (SEPs)
- Simple IRAs (SIRAs)
- Business Succession Planning
- A thorough understanding of what it is you and the company are trying to accomplish.
- Administrative support combined with accurate and efficient record keeping.
- Professional money management of plan assets.
- State Chartered Corporate Fiduciary - Fee only not commission based.
- Prototype plan document and all accompanying services.
- Coordination of administration and recordkeeping.
- Accurate and timely employer and employee reports.
- Investment approach built around funding policy statement.
- Trustee and/or investment advisor.
- Meet long term needs by controlling risk.
- Establish mutually agreed upon objectives.
- Quality growth and income to provide a consistent total return.
- Diversification to minimize risk and enhance long-term returns.
- Plan Trustee
- Review and consult on all relevant plan documents.
- Assist your attorney in the drafting of new documents or revising existing documents as necessary.
- In Rabbi Trust situations, we assist in preparing a trust document that complies with the IRS model document.
- Investment Management or Advisory
- Custodial services
- Preparation of tax forms and schedules
- Detail monthly statements and internet access to the plan level account.
- Benefit Payments by: direct deposit/ACH, wire transfer or check.
- Daily cash management
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RETIREMENT PLANS AND BUSINESS SERVICES
KNBT Wealth Management professionals work closely with business owners to design, implement and maintain qualified and non-qualified employee benefit and retirement plans, including:Critical to initiating any new plan, or assuming management of an existing plan, is close communication with the employer to determine which directions and instruments best fit the corporate objectives and stage of career planning. Once a plan is implemented, KNBT Wealth Management's team continues to work closely with both employer and employees to ensure full compliance and consistent pursuit of all objectives while simultaneously exploring other opportunities for growth or tax mitigation which may evolve during the life of the plan. As a chartered trust entity, KNBT Wealth Management can also reduce the employer's fiduciary risk by serving as the plan's trustee.
Qualified & Non-Qualified Plans
As employee benefit professionals, we know that there are obstacles inherent to a retirement plan program that must be overcome. The formula for success must include a variety of elements:
We work with your CPA or other tax advisor to determine the best course of action for your retirement program. All plans include the following:
Investment policy for qualified retirement plans is developed based on plan objectives, investment characteristics, funding and cash flow, investment objectives, and management controls.
Our services include:
Qualified Plans
Defined Contribution Retirement Plan Styles
The following is a review of the different structure we can employ for the various types of Defined Contribution plans. The Trust Company is unique in its flexibility and approach to meeting clients’ needs.
Plan Style 1 – Pooled Fund
A managed pool under the name of the plan, in which all participants share, on a pro-rata basis, in the investment return of the pool. This is one investment portfolio managed for the benefit of the entire group.
Plan Style 2 – Self-Directed Using Mutual Funds
Each participant allocates his or her deferrals among a menu of mutual funds choices. We select a cross section of funds so that each participant can decide how aggressive or conservative they want to be. It is also important to note that we do not receive any commissions or load charges from these funds. This puts us in a position to make our selection from an objective standpoint. In addition, since we are not limited to one family of funds, we will choose the funds that are the best funds within each of the style categories regardless of fund family. Therefore, each of our plans can offer the funds of companies like American Century, Calamos, Dodge & Cox, Federated, Fidelity, Legg Mason, PIMCO, Royce, T. Rowe Price, & Vanguard, among others. Also, our plans are flexible enough to include funds that you might specifically request. This approach sets us apart from our competition since we are using a variety of funds and we will not charge any front or deferred sales charges or surrender fees.
Plan Style 3 – Self-Directed Using Managed Accounts
This is a very unique approach that allows each participant to have their own separate account, which is managed according to their individual objectives. Any publicly traded security can be bought or sold in this account. This allows for maximum flexibility but may be administratively impractical depending on the size of the accounts.
Defined Benefit Plans
Although these plans are not used as often as in the past, they are very viable in certain situations. We will work with qualified actuaries to provide your organization with a formula based benefit plan that meets your needs. These plans can be designed to provide contribution levels far greater than the maximums for Defined Contribution plans.
Non-Qualified Plans
If you are willing to forgo or defer some the tax benefits of the qualified plans, you can establish a plan that benefits a select group of people. Typically, these plans incorporate a "Rabbi Trust" under Rev. Proc. 92-64. These plans can be setup by "For-Profit" and "Not-For-Profit" organizations. Non-qualified plans are not funded in the same manner as qualified plans. Participants are merely an unsecured creditor of the company or organization. The participants must rely upon the willingness of the management or board of directors at the time of payment to authorize the benefit. The advantage of the Rabbi Trust is that the assets placed in the trust are unavailable for general corporate operations. This is particularly important in the event of a change of control where the incoming management may not be committed to the non-qualified plans and the benefits relating thereto. Therefore, the likelihood of the non-qualified benefits being paid is much greater if the assets are already in the Rabbi Trust.
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KNBT Wealth Management Group 1620 Pond Road Allentown, PA 18104-2255 Phone: 610-366-9934 | Fax: 610-366-9939 |