Services
Company Retirement Plans
Company Retirement Plans
Retirement Plans provide you and your employees the opportunity to plan ahead for a successful retirement. Companies big and small can utilize the tax benefits, disciplined saving and the power of compounding earnings to build a nest egg that you can live on in retirement. In an industry where poor service, high fees and confusing information are common, Bay City Financial Services can provide an independent and objective analysis and formulate a solution that is appropriate for you and your employees.
What We Believe:
Our clients want to work with a relationship focused financial advisor, not a sales professional. We partner with you to provide you and your employees with a high quality Retirement Plan.
Solutions: You deserve personal and independent help building and maintaining a Plan that meets your unique needs. As an independent Registered Investment Advisor, Bay City Financial Services can select the best service providers and work one-on-one with you to determine the structure and design that best meets your goals. Relationships are important and we meet with you and your employees to provide personal service.
Choices: We believe that you deserve the best investment options available at the lowest prices. Independence and Open-Architecture means that we can formulate a plan with hand-picked investments from any provider and build model portfolios to make your investment decision easier
Services:
Analyze your needs and goals to build a retirement plan:
The Four Rs
Recruit: Retirement benefits can help you recruit the best employees.
Retain: Keep your valuable employees by offering generous retirement benefits.
Reward: Provide incentive by rewarding hard work and loyalty.
Retire: Employees can benefit from time and discipline to retire at an earlier age and enjoy the fruits of their labor.
Benchmarking: As a fiduciary, you are required to benchmark your Plan to other retirement plan options to compare service, investment options and cost. Bay City Financial Services can analyze your current Plan for strengths and weaknesses and compare to other providers.
Fiduciary Services: We will create an Investment Policy Statement that describes the processes and responsibilities that help you meet your fiduciary duties. As a Registered Investment Advisor, we also act as Fiduciary and are required to put your interests above our own.
Investments: We provide extensive research to select the best investment options. We interview managers, identify expenses and analyze performance and risk to build an investment menu that will encourage your employees to participate in the Plan. We monitor and replace investment options that do not meet our criteria. Investment fees are a key focus as you are required to keep plan expenses “reasonable”. We build portfolios that offer professional management to make your investment decisions easier.
Communication and Education: You have a Retirement Plan, now what? We educate employees so they take advantage of the Plan. We can provide enrollment meetings, company meetings and individual one-on-ones with employees to help formulate a plan for retirement.
Plan Types:
401(k) Plans
· Roth 401(k) Plans
· Traditional 401(k) Plans
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· Solo 401(k) Plans
Simple IRA Plans
Profit Sharing Plans
· New Comparability Plans
· Social Security Integrated Plans
Defined Benefit Plans
· Cash Balance Plans
Other Types
Benefits:
Tax Benefits
Company contributions are tax deductible.
Start Up costs can be offset with a tax credit.
Employees can contribute before and/or after income tax.
Plan Assets grow tax-deferred to the employees.
The Four Rs
Recruit, Retain, Reward and Retire your valuable employees (see above).
Competition
Your competitors are offering Retirement Plans, attract the highest quality employees by offering your own.
Retirement
Plan now for a life after work. Pensions and Social Security are becoming a less reliable source of retirement income. Your personal savings are a great start, but unless the current low rate of household savings reverses course, personal nest eggs wil only supply a small percentage of the income a retiree needs. A Company Retirement Plan helps you meet this challenge by providing a beneficial and convenient way contribute to your retirement.
Costs:
Fee Transparency: You need to know what you are paying and keep costs reasonable.
Bay City Financial Services earns a fee based on a percentage of assets under management. If you do well, we both are rewarded. If you do poorly, we also do poorly.
Bay City Financial Services does not earn fees based on investments chosen, transactions performed or by selecting certain service providers. We are Independent and Objective.