Retirement plans
New Retirement Plan for Physicians Endorsed by California Medical Association
We are introducing the California Physicians Retirement System with hosted dinner seminars starting in September. Please click on this link which will take you News Clips and provide more information regarding the upcoming seminars.
For information regarding this plan, please click on www.prsplan.com or call us at 925.803.8870.
Retirement plans have been in the spotlight these past several years in the wake of scandals involving corporations, mutual funds, as well as a long bear market. Million of people who are close to retirement found their plans had lost substantial amounts of capital, that impacted their ability to retire as they had planned.
Today, employers have to be very sensitive to these past events and take their roles as plan fiduciaries very seriously. Under ERISA Law employers can be held liable if they violate duties of prudence, diversification or adherence to the documents governing the plan.
What does this mean for employers? How do employers who are running businesses, dealing with clients/customers, still have the bandwidth to ensure they are acting responsibility as a plan fiduciary?
Many employers, large and small, engage the services of a business/financial planning advisor to support them as they navigate the requirements for a qualified retirement plan. An advisor can provide vendor analysis, plan investments, fee structure analysis, and employee education. While the first three items are key pieces of the puzzle, the last, employee education is one of the most important, to fulfilling the fiduciary responsibilities of the employer. In today's workplace, one-third of employees do not feel confident in their ability to make the right financial decisions. With the media attention to retirement, almost all are aware of the need, but few have really thought through a personal financial plan to reach their retirement goals. Offering financial planning services and advice can increase employee awareness and appreciation for other benefits, as well as provide incentives for retention and future recruitment.
 
Work with Managed Economics who has strong relationships with the top financial institutions to provide the right retirement plans for your company. Whether your needs are for a traditional 401(k) plan, or with a profit sharing plan option, or a defined benefit plan, we can help you navigate the choppy waters of compliance with the IRS, Department of Labor, and other governmental agencies to ensure smooth implementation as you provide a very key benefit to your employees. We offer a no obligation review of your current to see if your plans meet the current guidelines and offer your employees the best investment choices.
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