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Business Solutions

The Antonio Financial Group provides comprehensive retirement plan services to businesss and non-profit organizations.Use utilize a team approach by working with specialists in the the fields of law, recordkeeping, and strategic plan design (Third Party Administrators). As a Registered Investment Advisory (RIA) firm, we serve in a full fiduciary (ERISA Section 3(38) Fiduciary) or co-fiduciary (ERISA Section 3(21) fiduciary) capacity depending on the needs of the client.  

While both ERISA Sections 3(38) and 3(21) fiduciary reduce plan sponsor liability, the breadth of authority over a plan and its operations will be determined by the designated ERISA fudiciary level. 

Both 3(38) and 3(21) advisors accept fiduciary responsibilities and adhere to ERISA §404(a) duty to serve exclusively in the interest of plan participants and must meet the "prudent man" standard of care in their dealings throughout their activiate appointment to serve in either capacity. 

Section 3(38) fiduciary is responsible for managing the plan's assets. A plan sponsor delegating this responsibility are limiting their liability of selecting, analyzing, monitoring and replacing investments. Only a bank, an insurance company, or registered investment advisor (RIA) may serve in this capacity. A traditional broker-dealer will never be able to serve as a Section 3(38) fiduciary, unless double registration of broker-dealer and registered investment advisor (RIA) exists.

Section 3(21) fiduciary exercises control and authority over plan management and may have the ability to dispose of plan assets. Other duties under this section may include the rendering of investment advice for a fees and discretionary authority and responsibility over the administration of the plan. The scope of administration and authority is limited compared with the duties of the Section 3(38) fiduciary.

Listed below are plans available to plan sponsors. Please don't hestiate to contact us.

Plans with IRas

• Participant's retirement benefits based on participant's account balance

• Some plans may allow employees to contribute

• Depending on the type of plan, employer may be required to make annual minimum contributions

• Contribution limits of $5,000 to $50,0001, depending on the type of plan

• Depending on the type of plan, must cover some or all of the employees in all your businesses

• Easy to set up and operate

• No annual return required

• Annual nondiscrimination testing not required

• Little design flexibility

• No loans allowed

• Immediate vesting of all contributions

Payroll deduction ira

  • Can be set up by any employer
  • Participant's retirement benefits based on participant’s account balance
  • Employees may contribute to their own retirement by payroll deduction, up to $5,0001 and an additional $1,000 if age 50 or older
  • Can cover all employees or selected employees
  • Easy to set up and operate
  • No annual return required by the employer for the plan
  • Annual nondiscrimination testing not required
  • Little design flexibility
  • Employees may not take loans from the plan
  • Employees may withdraw their balance at any time, subject to tax
  • Immediate vesting in full account balance

Simplified employee pension /sep ira

  • Can be set up by any employer
  • Participant's retirement benefits based on participant’s account balance
  • Employer can decide each year whether and how much to contribute
  • Only the employer is allowed to contribute to the plan on behalf of employees, up to the lesser of 25% of an employee’s compensation or $50,0001
  • Must cover all employees who are at least 21 years of age and have been employed in 3 of the last 5 years with compensation of at least $5501
  • Easy to set up and operate
  • No annual return required
  • Annual nondiscrimination testing not required
  • Little design flexibility
  • Employees may not take loans from the plan
  • Employees may withdraw their balance at any time, subject to tax
  • Immediate vesting in full account balance

simple ira

  • Can be set up by any employer with 100 or fewer employees and no other retirement plans
  • Participant's retirement benefits based on participant’s account balance
  • Allows employees to contribute to their own retirement through salary deferrals, up to $11,5001 and an additional $2,5001 if age 50 or older
  • Employer is required to make annual minimum contributions
  • Must cover all employees who have compensation of at least $5,000 in any 2 prior years and are expected to earn $5,000 in the current year
  • Easy to set up and operate
  • No annual return required
  • Annual nondiscrimination testing not required
  • Little design flexibility
  • Employees may not take loans from the plan
  • Employees may withdraw their balance at any time, subject to tax
  • Immediate vesting in full account balance

401(k) & profit sharing plans

• Participant's retirement benefits based on participant's account balance

• May allow employees to contribute through salary deferrals

• Depending on the type of plan, employer may be required to make annual minimum contributions

• Contribution limits of up to $50,0001 or more if catch-up contributions

• Must meet minimum coverage tests but can exclude some employees

• More complex to set up and operate

• Annual return usually required

• May require annual nondiscrimination testing

• Greater design flexibility

• Loans and hardship withdrawals allowed

• May delay vesting of some employer contributions

safeharbor 401(k)

  • Can be set up by any employer other than a state or local government entity
  • Participant's retirement benefits based on participant’s account balance
  • Allows employees to contribute to their own retirement through salary deferrals, up to $17,0001 and an additional $5,5001 if age 50 or older
  • Employer is required to make annual minimum contributions
  • The maximum combined employer and employee contributions are the lesser of 100% of an employee’s compensation or $50,0001 or more if catch-up contributions
  • May exclude certain employees from coverage as long as annual coverage tests are met
  • More complex to set up and operate
  • Annual return could be required
  • Some annual nondiscrimination testing could be required
  • Greater design flexibility
  • Plan may allow loans and hardship withdrawals
  • Immediate vesting in full account balance

401(k)

  • Can be set up by any employer other than a state or local government entity
  • Participant's retirement benefits based upon participant’s account balance
  • Allows employees to contribute to their own retirement through salary deferrals, up to $17,0001 and an additional $5,5001 if age 50 or older
  • Although not required, the employer can contribute to an employee’s retirement account
  • The maximum combined employer and employee contributions are the lesser of 100% of an employee’s compensation or $50,000 1 or more if catch-up contributions
  • May exclude certain employees from coverage as long as annual coverage tests are met
  • More complex to set up and operate
  • Annual return usually required
  • Must usually satisfy annual nondiscrimination testing
  • Greater design flexibility
  • Plan may allow loans and hardship withdrawals
  • Immediate vesting in employee's own contributions

profit sharing

  • Can be set up by any employer
  • Participant's retirement benefits based upon participant’s account balance
  • Can include a feature allowing employees to contribute to their own retirement through salary deferrals, up to $17,000 1 and an additional $5,5001 if age 50 or older
  • The employer can decide each year whether and how much to contribute
  • The maximum annual contributions are the lesser of 25% of an employee’s compensation or $50,0001 or more if catch-up contributions
  • May exclude certain employees provided annual coverage tests are met
  • More complex to set up and operate
  • Annual return usually required
  • Must usually satisfy annual nondiscrimination testing
  • Greater design flexibility
  • Plan may allow loans and hardship withdrawals
  • May delay vesting of employer contributions

defined benefit plan

• Participant's annual retirement benefit determined by the plan's benefit formula

• Higher annual retirement benefits possible, up to $200,0001 per year

• Actuary required to determine employer's annual contributions

• Must meet minimum coverage tests but can exclude some employees

• Most complex to set up and operate

• Annual return required

• Annual nondiscrimination testing required

• Greater design flexibility

• Plan may allow loans

• May delay vesting of participants' accrued benefit

db (DEFINED BENEFIT) PLAN

  • Can be set up by any employer
  • Participant's annual retirement benefit determined by the plan's benefit formula
  • The maximum annual benefit at retirement is the lesser of $200,0001 or 100% of final average pay
  • An actuary is required to annually certify the amount the employer must contribute to the plan to fund retirement benefits for the employees
  • Must meet minimum coverage tests but can exclude some employees
  • Most complex to set up and operate
  • Annual return must be filed
  • Must satisfy annual nondiscrimination testing
  • Greater design flexibility
  • Plan may allow employees to take loans
  • May delay vesting of participants' accrued benefit

TAX EXEMPT PLANS

• Plan options if you are a public school, college or university, tax-exempt organization, or a state or local government entity.

403(B)

  • Can be set up by public education employers and tax-exempt (501(c)(3)) organizations
  • Participant's retirement benefits based on participant’s account balance
  • Allows employees to contribute to their own retirement through salary deferrals, up to $17,0001 and an additional $5,5001 if age 50 or older
  • May allow certain employees with 15 or more years of service to contribute an additional $3,000
  • Although not required, the employer can contribute to an employee’s retirement account
  • The maximum combined employer and employee contributions are the lesser of 100% of an employee’s includible compensation or $50,0001 or more if catch-up contributions or 15 or more years of service contributions
  • Covers almost all employees
  • Annual return may be required
  • Plan may allow loans and hardship withdrawals
  • Immediate vesting in employee's own contributions

457(B) GOVERNMENT ENTITIES

  • Can only be set up by state and local governments
  • Participant's retirement benefits based on participant’s account balance
  • Allows employees and independent contractors to contribute to their own retirement by deferring compensation, up to $17,0001 and an additional $5,5001 if age 50 or older
  • May allow employees and independent contractors to make additional contributions for 3 years prior to normal retirement age
  • Plan may allow employer contributions
  • The maximum annual contributions are the lesser of 100% of includible compensation or $17,0001 or more if catch-up contributions or additional contributions for 3 years prior to normal retirement age
  • May cover all employees and independent contractors
  • Plan may allow loans and hardship withdrawals

457(B) TAX-EXEMPT ORGANIZATIONS (NON-CHURCH)

  • Can only be set up by tax-exempt organizations (non-church)
  • Participant's retirement benefits based on participant’s account balance
  • Allows select group of management or highly compensated employees and independent contractors to contribute to their own retirement by deferring compensation, up to $17,0001 or more for 3 years prior to normal retirement age
  • Plan may allow employer contributions
  • The maximum combined contributions are the lesser of 100% of includible compensation or $17,0001 or more for 3 years prior to normal retirement age
  • May cover select group of management or highly compensated employees and independent contractors
  • No loans are allowed
  • All contributions are subject to claims of creditors