Retirement Plan Design & Set-Up.

Slides:

Advertisements

Similar presentations

VEBA News & Highlights Save Tax. Keep More.. Today’s Topics What’s new? Administrative reminders VSG client consultant territories What are other CTC.

Advertisements

Goodbody/ISEA INFORMATION EVENING OCTOBER 2014.

BOOSTER CLUB TRAINING Department of Athletics Temple Independent School District.

1 Licensing Pension Funds and Trustees Conference on Supervision of Pension Systems Warsaw September 2006 Ross Jones Deputy Chairman Australian.

An introduction Gervase MacCourt QFA FLIA, Managing Director MacCourt Financial Planning Ltd. 46 Lower Leeson St., Dublin 2 Tel Fax

Agency Certification. 2 Any agency or organization interested in submitting an application for funding must be certified. Certification documentation.

International Pension Planning QROPS Approved SIPP’s International Pension Planning Division Brussels Paris Dublin Geneva Monaco Nassau.

Qualified Domestic Relations Orders Marcia S. Wagner, Esq.

Copyright © 2011 GRS – All rights reserved. What Can I Do with a Mathematics Degree? Danny White December 6, 2011.

CHAPTER NINETEEN Employment Retirement Security Act.

Guidelines: Tax treatment on Separation Benefits received by officials and employees due to death, sickness, or other physical disability and the issuance.

City of Orlando, Florida September 13, 2010 City Council Public Hearing / Fiscal Year 2011 Budget.

Public Hearing Park Hill School District August 28, Tax Rate.

Presentation Title © 2011 Fox Rothschild Qualified Plans for Tax- Exempt Employers New York Society of Association Executives Finance & Management Institute.

Reinsurance Supervision The US Perspective ASSAL XIV Annual Meeting Alessandro Iuppa, Superintendent Maine Bureau of Insurance, USA.

THE MANUAL INNOVARE REALTY SOLUTIONS CORPORATION.

As part of the Lloyds TSB Group, Scottish Widows is proud to be an Official Provider of the London 2012 Olympic and Paralympic Games WHY OFFSHORE BONDS.

PAYMENT OF GRATUITY ACT, 1972 APPLICABILITY : On Employers with ten or more Employees GROUP GRATUITY SCHEME.

4-1. Employer-Sponsored Retirement Plans McGraw-Hill/Irwin Copyright © 2006 The McGraw-Hill Companies, Inc. All rights reserved. Chapter 4.

IAS 26 – Accounting and Reporting by Retirement Benefit Plans Wiecek and Young IFRS Primer Chapter 36.

Insurance Commission: Regulatory Updates (A presentation to the Regulators’ Forum) by Vida T. Chiong Deputy Insurance Commissioner 14 July 2015.

1 P.AG. KENYA PASTORS & STAFF PROVIDENT FUND. DUTIES OF A SCHEME ADMINISTRATOR.

Individual Tax Planning 80C/CCC- Limit Rs 1 lac -Life Insurance premium -Contribution to PF - Contribution to PPF.

Firefighters ’ Relief Fund NC General Statutes thru

Profit Sharing Plan The information contained in this document is not for use or disclosure outside Makotek, LLC.

Regulation of Pensions in Ireland Madeleine Delaney Deputy Head of Enforcement The Pensions Board.

The International Benefits Solution. 2 Principal Characteristics Used to provide hard currency retirement and other benefits for globalists and key local.

Severance Pay Plan Chapter 33 Employee Benefit & Retirement Planning Copyright 2009, The National Underwriter Company1 An agreement between employer and.

Role of Trustee In Protecting The Pension Fund Under The Pension Fund Under The Voluntary Pension System (VPS) The Voluntary Pension System (VPS) And Other.

Communication Challenges for Client-Facing Actuaries Howard Rosenfeld MSPA, EA, MAAA Rosenfeld/Tortu Retirement Planning Co. Joe Nichols MSPA, EA, ASA,

Copyright © 2007, The American College. All rights reserved. Used with permission. Planning for Retirement Needs Plan Installation and Administration,

Executive Bonus A plan to help recruit, retain and reward key employees GenAmerica Financial 700 Market Street St. Louis, MO

July 30, 2012 St. John’s University Fulbright Preacademic Orientation.

International Considerations In Research Administration Presented by: Artemis Koch, Executive Director, Global Support Services 1.

Qualified Plans: General Rules for Qualification Chapter 7 Employee Benefit & Retirement Planning Copyright 2009, The National Underwriter Company1 Qualification.

Re-writing the rules on retirement plan investing.

History & Update of the City of Fort Worth Employees’ Retirement Fund Presented by Laetitia Brown, Senior Assistant City Attorney, Department of Law May.

Overview of the BSP’s KYC Policy Meeting of the Cash Working Group UN WFP Office, Bonifacio Global City, Taguig 12 November 2015.

U.T. System Administration Delegation of Authority to Sign Contracts Dana Hollingsworth, Attorney The University of Texas System Office of General Counsel.

4-1. Employer-Sponsored Retirement Plans McGraw-Hill/Irwin Copyright © 2009 The McGraw-Hill Companies, Inc. All rights reserved. Chapter 4.

TAX POLICY WORK PROGRAMME – CONSULTATION AND EVENTS

Agency Certification.

How the Executive Branch Works

Changing Scheme Benefits Hilary Salt June 2006

International Considerations In Research Administration

Ratemaking Actuarial functions Ratemaking Loss reserving

Procurement Card Policy 2017

THE HOT LIFE INSURANCE ISSUES OF 2017 great lakes e-day

Presentation on Salary Taxation

International Considerations In Research Administration

Superintendent’s Proposed FY16-17 Budget

Examples of Employee Compensation Plans

Accounting for superannuation plans

Public Expenditure Management Peer Assisted Learning

Accounting for superannuation plans

How the Executive Branch Works

How to Update your Company’s Legal Name

Relative Contributions of Different Types of Health Services to Total Growth in National Health Expenditures, NOTE: Percentages may not.

Relative Contributions of Different Types of Health Services to Total Growth in National Health Expenditures, NOTE: Percentages may not total.

SESSIONI DI FORMAZIONE CIVICA RETE CTP PROVINCIA DI VERONA INGLESE

O’Connor Sutton Cronin CPD Pension Presentation

Establishing and Maintaining an OPEB Trust

DC vs DB DC DB BASIS Benefit

Re-writing the rules on retirement plan investing

HRM Pension Plan Town Hall Information Sessions

Qualification Requirements

Legal Documents Call info day May 21st 2008 C. van Mourik.

GATEWAY AREA DEVELOPMENT DISTRICT CITY BUDGET WORKSHOP February 20, 2019 Guest Presenter Mr. Andy DeMoss, CPA Partner RFH, PLLC Lexington, Kentucky.

Fiduciary Responsibilities: Handling Employee Contributions

Plan Member Presentation

Presentation transcript:

Retirement Plan Design & Set-Up

Approval of Proposal and Administrative Costs Discussion of Basic Provisions of Plan Policy Documentation of Retirement Plan Policy (Plan Design and Documentation) CLIENT CLIENT & MCG CLIENT & MCG 1 week 1 day 2 days Actuarial (Funding) Valuation BIR Filing for Tax Exemption Execute Trust Agreement between Trustee Bank and Company MCG MCG CLIENT & TRUSTEE BANK 5 days from data completion 2 weeks* 2 weeks Approval of Proposal and Administrative Costs CLIENT *Approval from BIR may take 6mos to 2yrs 1 week

Requisites Under Revenue Regulations No. 1-68 Written retirement program Permanent and Continuing Coverage Percentage basis Classification basis Contribution Impossibility of diversion Non-discriminatory Non-forfeitable rights Forfeitures must be used to reduce employer’s contributions Administered by a trust

Funding Vehicle Self-Funded Trustee Bank Insurance Company

BIR Requirements Signed Retirement Plan Rules and Regulations Accomplished BIR Form 17.60 Actuarial Valuation (1 year validity) Trust Agreement with Trustee Bank TIN of the Fund

+63 2 856 7132 +63 2 856 7169 +63 2 856 7118 http://www.MCGravite.com info@MCGravite.com +63 2 856 7169 http://www.MCGravite.com 20th Floor, Fort Legend Tower 3rd Avenue corner 31st Street Fort Bonifacio, Global City Taguig City, Philippines 1tth Floor Apple One-Equicom Tower, Cebu Business Park, Cebu City, Philippines Manila Head Office Cebu Satellite Office +63 2 856 7132 +63 2 856 7118