Supplemental Retirement Plans in Saskatoon
RAM Financial LTD is Saskatoon’s leading broker for supplemental retirement plans. We help you protect your wealth, manage your assets, and ensure a prosperous retirement well into the future. Whether you’re an individual or an employer, our experienced team of brokers is sure to be of assistance. With us at your side, you can rest easy: Your retirement plan is in the safest hands.
To discover what we can do for you, call us at (306) 244-7660 and book a consultation today.Book An Appointment
Retirement Planning for Businesses
As an employer, you know just how valuable talented and engaged employees are to the productivity and success of your company. To retain staff, it’s vital to provide them with excellent benefits and insurance.
Supplemental executive retirement plans (or SERPs) are designed to offer key company employees benefits beyond those covered in their existing retirement plans. Providing your valued employees with extra support will be beneficial to you and them in the long run.
At RAM Financial LTD, we help companies provide their top executives with SERPs that appropriately acknowledge and reward their contributions to the business. If you’re considering this type of remuneration for your key employees, we have the knowledge to provide expert guidance and optimum value.
Supplemental Retirement Plan: How it Works
As executive retirement plans are flexible and can be tailored to meet specific needs, we begin our service by conducting a consultation. These consultations allow us to discuss all matters related to your needs and wants. Although most SERPs are funded through life insurance plans, we’ll also take the opportunity to explore all the options available for funding and investment.
In purchasing a SERP, most companies will choose a cash-value life insurance plan. The employer buys the insurance policy, pays the premiums, and has access to its cash value. The employee receives supplemental retirement income paid for through the insurance policy. Once the employee receives income in retirement, that benefit is taxable. At that point, the employer gets a tax deduction. As insurance brokers, we can help you find the program that will allow you to recover the full cost of your investment. Contact us today to get started.
Benefits of a Supplemental Retirement Program
SERPs can be a good option for individuals and employers. They are a high-value, low-risk investment that includes several benefits, such as the opportunity to maximize retirement income and lower tax burdens.
In most cases, the plan can be structured in a way that allows companies to recover their costs. The benefits also accumulate without tax consequences. When funded with a cash-value life insurance plan, death benefits are available to provide a continued payment or a lump-sum payment to the employee’s beneficiaries in the event of premature death. This feature provides additional security. To find out more about supplemental retirement plans, be sure to get in touch with us today.
Maximize Your Retirement Savings with RAM Financial LTD
As your insurance broker, we’re here to give you the guidance you need to enjoy your retirement to the fullest. For quality advice from trusted experts, RAM Financial LTD is the name to remember.
Contact us to book a consultation today.