Qualified and Non-Qualified Retirement Planning

At MDW Insurance Group, we recognize that no two workplaces are exactly alike. That’s why we focus on creating retirement plan solutions tailored to your unique needs. We deliver a powerful fusion of high-touch personalized services and leading-edge products in a turn-key package designed to help put your valued employees on the right path to retirement security.

Whether your organization is a large corporation or a small business one of the most important benefits companies can offer is a retirement plan.  Retirement plans allows business owners and employees to save money in tax-deferred accounts, delaying income tax payments until funds are withdrawn at some future date.

Our services are tailored to minimize employer risk and cost while enhancing employee perception and participation. Retirement plans can be structured according to each company’s needs.

Qualified Retirement Plan- (QRP)- this a retirement plan that is entitled to advantageous tax treatment.

There are two main categories of ‘Qualified Retirement Plans” :

Defined Benefits Plan- these are company retirement plans, like pension plans. The employee alone, or both employer and employee can contribute.

Defined Contribution Plan- these type of plans outlines the amount that flows to employees and how much should be contributed by an employer each year to the retirement plan.

• Profit Sharing Plans
• Money Purchase Plans
• Target Benefits Plans
• 401 (K) Plans
• Stock Bonus Plans
• Employee Ownership Plans
• Simplified Employee Pension Plans
• 403 (b)- for tax-exempt employers.

Non-Qualified Retirement Plan-(NQRP) These type of plans are financed by employers and are flexible compared to QRP. Most of the times this time of plans are designed for executives or key employees.

• Top Hat Plans
• Excess Benefits Plans
• Supplemental Executive Retirement Plans