While salary is an important component of attracting and retaining quality employees, you have most likely seen your benefit offering become increasingly more important over the last several years. By offering the right mix of benefits in an easy to understand format, you can make a difference in your ability to recruit, motivate, and maintain your most important resource – your employees.
AHP Benefits LLC, a wholly-owned subsidiary of Andrews Hooper Pavlik PLC (AHP), is here to assist you with the design, implementation, and on-going support of a plan that addresses the unique needs of your business and employees.
AHP Benefits LLC has professionals who are Enrolled Retirement Plan Agents (ERPA) and Qualified Pension Administrator (QPA). The ERPA designation is granted by the IRS to retirement plan professionals who have demonstrated a high level of competency in retirement plan matters. The QPA credential was created by ASPPA to recognize professionals who are qualified to perform the technical and administrative functions of qualified plan administration. QPAs assist employers, actuaries, and consultants in performing functions such as determination of eligibility benefits, computation of benefits, plan recordkeeping, trust accounting and disclosure, and compliance requirements.
Our professional’s depth of knowledge, experience, and personalized service demonstrates our commitment to increase your wealth of knowledge and resources by being industry experts.
- Assistance with Current Plan Issues and DOL/IRS Examinations
- Enrollment Meetings
- Guidance on Plan Alternatives
- Nondiscrimination and Compliance Testing
- Plan Design, Evaluation and Setup
- Retirement Plan Administration
- Plan Implementation
- Preparation and Review of Form 5500
Cafeteria Benefit Plans, Premium Only Plans, Flexible Spending Accounts
Sometimes referred to as flexible benefit plans, cafeteria benefit plans are defined for the purpose of allowing employees to pay for certain benefits with pre-tax dollars. Expenses such as dependent and child care, un-reimbursed medical expenses, and insurance premiums can be paid through these plans with wages that have no federal, social security, or state taxes deducted which reduces the overall tax burden on employees and employers. The added benefit is that the employees take part in their benefit package design.
Employers are faced with the difficult task of providing benefits to employees in a cost effective manner. With health insurance premiums and other costs on the rise, working with the AHP benefit specialists can mean the difference between an attractive benefits offering and having to eliminate coverages to cover costs.
401(k) Plans, Safe Harbor Plans, Profit Sharing Plans
We all hope to retire with enough income to maintain our standard of living. Without income from active employment, we look to Social Security, personal savings, and employer-provided pensions to cover living expenses. There is no better way for a company to accumulate a substantial nest egg for its loyal employees and working owner than to establish a tax favored retirement plan. Advantages of such a plan include:
- Company tax deduction for employer contribution
- Higher contribution limits than IRA’s
- Providing a vehicle for employee’s to save for retirement
- Earnings from plan investments accumulate tax free
Proper retirement plan design should begin with a review of the strategic goals of the organization. Employee demographics must be considered along with a comparison of the costs and benefits of available options. The plan must also follow strict guidelines in order to be in compliance with the Employee Retirement Income Security Act (ERISA) set by the Department of Labor (DOL) in the Internal Revenue Code.
A well designed employee benefits plan can provide employees with the tools to build a financially sound future and can assist you in recruiting and retaining your most valuable resource – your people.
Benefits Administration services provided by AHP Benefits LLC.
For more information on the full suite of professional investment services offered by AHP Financial Services Click here
For more information on our Retirement Plan Audit services Click here