Comprehensive Retirement Plan Services

Your Full-Service Partner in Retirement Planning

At Whitney Pension Associates, Inc., we understand that an effective retirement plan is a cornerstone of a secure future. That's why we offer comprehensive, full-service consulting and administration services, ensuring both employers and employees feel confident in their retirement strategies. Our services encompass every aspect of retirement planning, from initial design to ongoing administration, compliance, and beyond.

Plan Design and Implementation: Tailored Strategies for Your Unique Needs

Navigating the complexities of selecting and customizing a retirement plan can be daunting. Our expert team is here to guide you through every step, ensuring your plan aligns with your specific goals. Whether you're establishing a new plan or optimizing an existing one, we provide thorough reviews, strategic design, and all necessary documentation, including IRS submissions and participant materials.

Defined Contribution Plan: Seamless Operation and Administration

Your plan's smooth operation is our top priority. We manage every aspect, from calculating employee eligibility to preparing for distributions or loans, ensuring accuracy and compliance at every step. Our services extend to maintaining participant records, allocating contributions and earnings, and preparing customized statements, among others.

Defined Benefit Plan: Expert Actuarial Services and Administration

Leverage our actuarial expertise and advanced technology for efficient management of your defined benefit plan. From participant eligibility calculations to annual reports, contribution determinations, and distribution processing, our professionals ensure your plan is both compliant and advantageous for your future.

Annual Compliance and Reporting: Keeping Your Plan on Track

The regulatory landscape of retirement plans is complex, but our team is equipped to navigate it. We conduct thorough compliance testing and handle all aspects of government reporting, ensuring your plan remains in line with federal laws and regulations. If discrepancies arise, we're here with effective solutions to steer you back to compliance.

Consulting Services: Navigating Complex Scenarios with Ease

Whether you're facing plan amendments, mergers, terminations, or audits, our consulting services have you covered. We provide expert assistance with plan design changes, facilitate IRS and DOL audits, and conduct specialized plan studies or projections to keep you informed and prepared for what's ahead.

Vermont Saves Program

What is Vermont Saves?

Vermont Saves is a new retirement savings program, sponsored by the Office of the State Treasurer. Vermont businesses with employees will be required to register for the program if they do not already offer a tax-qualified retirement plan to all employees.

When "one-size-fits-all" isn't a good fit

When state-mandated plans don't align with a business's specific needs and goals, employer-sponsored plans can offer more flexibility and control.

State-mandated retirement plans often come with limited choices and rigid guidelines, leaving employees unable to optimize their savings strategy. Employer-sponsored retirement plans offer more investment options and plan types.

How to Choose the Right Retirement Plan for Your Business (Alternative options to Vermont Saves)

Choosing the right type of retirement plan for your organization starts by discussing your goals and what you're trying to accomplish, whether that be cash flow, tax deductions, or providing additional employee benefits, and then determining what makes the most sense for your situation. For example, offering a state-run retirement plan may be a good option for a new small business without the cash flow to support contributions.

Next Steps for Business Owners: Preparing for the Future

Vermont Saves is here, so it's essential for employers to follow past and pending legislation to stay informed and prepared for changes in legislation that may affect them. Working with Whitney Pension, who is well-versed in the retirement plans and their intricacies can help employers determine which plan is best and stay compliant with state regulations. If you have questions about your retirement plan or need assistance, contact us today.