Employee / Employer Benefit Services

Traditional Insurance Benefits

  • Health Insurance Plans*
  • Dental Insurance
  • Vision Insurance
  • Life Insurance
  • Disability Income Insurance
  • Critical Illness Insurance
  • Long Term Care Insurance
  • Voluntary Insurance Products

Retirement Plans

  • SIMPLE-IRA and SEP-IRA Plans 
  • Defined Contribution 401(k) & Profit Sharing Plans
  • 403(b) Plans for Non-Profit & Exempt Organizations
  • Defined Benefit Plans
  • Employee Stock Ownership Plans (ESOP) for the employee-owned company structure
  • Roth and Traditional IRAs
  • Non Qualified Executive Bonus Plans

Workplace Financial Wellness

Customized and interactive, the Workplace Financial Wellness program allows business owners the opportunity to offer personalized financial needs analysis for their employees at no out-of-pocket costs to the employer or employees (unless products or additional services are purchased). 

  • Worksite Presentations (upon request)
  • One-on-One financial needs analysis for employees

Executive & Key Person Benefits

Executive 457 Plans for Tax-Exempt Organizations

  • Offered exclusively for tax-exempt organizations.
  • These organizations may offer a nonqualified deferred compensation plan for a select group of highly compensated or management employees called the group.
  • Plan participants may defer eligible compensation on a pre-tax basis and plan sponsors my make additional discretionary contributions. 

Executive Non-qualified Excess Plan

  • A defined contribution deferred compensation plan.
  • These plans help bridge the retirement income gap that highly compensated employees often face due to limitations in qualified retirement plans.
  • It allows select executives to defer income in "excess" of the qualified plan limitations up to 100% of their income on a pre-tax basis.

Long-Term Care Insurance

  • Used to attract, retain and reward owners, shareholders and executives.
  • This coverage is a deductible business expense for the company, and a tax advantaged benefit for the insured.

Executive Nonqualified Defined Benefit Plan

  • A defined benefit deferred compensation plan.
  • It can provide supplemental retirement benefit to select executives in excess of qualified plan limitations on a pre-tax basis.

Select Reward Plan

  • Employers select key employees to receive a lump sum & "reward bonus"; payable upon reaching a pre-determined service date.
  • The employer can endorse a portion of a company-owned life insurance death benefit to the executive for survivor income during the service period.

Split Dollar Life Insurance (Collateral Assignment)

  •  Employers can provide a retirement and pre-retirement death benefit for selected key employees.
  • A nonqualified executive benefit where a life insurance policy is funded by a loan from the employer that are either repaid or forgiven based on employer preference.
  • The employee owns the policy subject to a collateral assignment in favor of the employer that secures repayment of premium loans.

 

*Health insurance providers are not affiliated with or endorsed by any company of Principal Financial Group®.