Cosmos Services (America) Inc. can assist you in arranging suitable retirement programs for your needs. Our professional consulting team will assist you in selecting the appropriate retirement arrangement for your company and its employees.
Defined Contribution
Defined Contribution plans are employer-established plans the most common being 401(K) plans. These plans do not promise any specific benefit amount at retirement; however, both employee and employer can enjoy significant tax advantages. We also arrange Profit Sharing and Money Purchase Plans.
Defined Benefit
Defined Benefit plans offer a specified benefit amount at retirement. These plans are primarily funded by employers. Employers must have sufficient funds to meet the plan requirements. Many employers are shifting these programs toward Defined Contribution plans to reduce their operating liabilities.
IRA
Employers can make an IRA available to their employees through a payroll deduction arrangement.
SEP
The employer contributes a uniform percentage of the wages of each employee. Employers do not need to make contributions every year. This plan is popular with self-employed businesses. It is flexible and easy to set up.
SIMPLE IRA
Employees can contribute a percentage of their salary. Employers must contribute either 100% matching up to 3% of employeesf salaries, or 2% of the wages for all eligible employees. It is simple to set up and the administration costs are generally lower than other retirement plans.
Non-Qualified Deferred Compensation
It is important to retain and recruit key employees. Cosmos Services (America) Inc. can arrange Key Man Plans (i.e. SERP, Bonus Plan and Split Dollar). We will work with you to set up the program to meet your objectives.
Note: Nothing stated herein is intended to supersede or replace any provisions of the actual insurance policies and the coverage and risks underwritten by those policies. Insurance policies contain many conditions, exclusions and other terms which are not explained or described in this summary which is only for general information purposes. You must always review the actual insurance policies for the precise wording of the coverage, terms, conditions and limits which apply to you and your particular insurance.
