|
|
Managing your retirement plan with it's trust assets can be a daunting tasks what with new regulations, compliance testing, reporting forms, changing markets, audits etc. A professional consultant can simplify many of these tasks so you're only worry is when and where to retire.
|
|
|
MJ Consulting Group, Inc. is the
successor corporation to a firm that was started in Los Angeles in
1977. It currently consults over 400 clients that qualify as small
businesses (under 100 employees). Clients come from virtually all
business groups with particular emphasis in the professions. The
President, Michael A. Jones, ERPA is enrolled to practice before the
Internal Revenue Service as a Retirement Plan Agent and has been involved in the Employee
Benefits/Retirement field since 1967. The Vice-President/Administration Stacy McCauley has
over 25 years of experience in administering various types of
retirement plans. She is particularly skilled at helping people new
to the retirement plan administration process. Many of the procedures
and forms that Mrs. McCauley has designed are industry standards. The operation of a "Qualified Retirement Plan" can be broken down into two distinct areas. The first Is the Plan Administration which comprises all regulatory, administration and reporting activities or simply put the "Paper'. The second area is Trust Administration which comprises all activities associated with the management of the qualified trust assets or again simply put the "Money". Through our business model which involves selected Strategic Partnerships, we endeavor to provide a coordinated one-stop platform where a client can receive all the consulting assistance necessary to successfully operate their Qualified Retirement Plan. In addition we also have a one-stop platform to design, implement and manage self-trusteed tax exempt Charitable Remainder Trusts which can serve as a valuable supplement to overall retirement planning. We are located at 3452 E. Foothill Blvd., #305, Pasadena, CA 91107. Phone: (626)356-9996, Fax: (626)449-8808. Email: mjgroup@pacbell.net |
|
PLAN ADMINISTRATIVE
|
(1) NEW PLAN DESIGN/ANALYSIS - Perform a comprehensive analysis of new plan requirements and prepare plan design parameters which best meet the Employer's requirements. (2) NEW PLAN INSTALLATION - Preparation of all plan documents and appropriate submissions for regulatory agencies. (3) EXISTING PLAN TAKEOVER - Review existing documentation and reporting to determine if the plan meets the Employer's needs, is being operated in accordance with current plan provisions as well as conforming to all applicable IRS, DOL and other regulatory requirements. Establish record keeping systems as required. (4) EXISTING PLAN AMENDMENTS/RESTATEMENTS - Amend/Restate the entire plan as required to conform to regulatory changes. (5) ANNUAL PLAN ADMINISTRATION - Determine eligibility for Plan participation and benefits, determine contribution levels, maintain required records, prepare annual participant statements, prepare all required regulatory reporting, conduct required testing, prepare required documentation for terminating/retiring participant and perform other administrative services as required to ensure correct Plan operation. (6) PLAN TERMINATION - Prepare complete documentation and reporting necessary for the dissolution of the Plan and Trust. (7) MISCELLANEOUS - Additional services are available including but not limited to plan amendments, special actuarial studies, interim asset valuations, plan audits, etc. |
|
TRUST ADMINISTRATIVE
|
(1) ANNUAL TRUST ADMINISTRATION - Reconcile the trust assets with prior years to ensure continuity, establish earnings/loss amounts, review asset valuations, ensure proper titling of trust assets, ensure compliance with ERISA rules regarding prohibited transactions etc. Trust reconciliation is required for each trust prior to any actuarial valuation/certification (as required) or Annual Plan Administration Services. (2) INVESTMENT POLICY STATEMENTS (IPS)- Preparation and implementation of an IPS to support plan objectives and meet reporting requirements as required. Review at least annually. (3) TRUST ASSET MANAGEMENT - Provide services to implement the requirements of the IPS and changing market conditions. The preparation of IPS's and Trust Asset Management are provided through the facilities of MASS MUTUAL TRUST and our Trust Consultant - Dennis Kunsaki. Mr. Kunisaki has been involved in the Trust area since 1979 most recently with U.S. Trust - Bank Of America. He holds designations as a Certified Financial Planner (CFP) through the College Of Financial Planning and a Certified Retirement Services Professional (CRSP) through the Institute Of Certified Bankers. During his career he has dealt with ERISA clients with total assets in excess of $3 Billion. (4) ERISA/PENSION BONDS - Provide services to determine qualified/non-qualified asset values and ensure compliance with current bonding regulations. (5) FIDUCIARY SERVICES - Professional fiduciary and successor trustee services are provided through a strategic partnership with NICHOLAS L. SAAKVITNE, A LAW CORPORATION. Additional trust administration information can be reviewed HERE. |
|
|
Many clients use Charitable Remainder Trusts
("CRT") to augment their current retirement plan. By setting one
up in your peak earning years, you can make contributions to the
CRT in the form of zero coupon bonds, non-dividend paying growth
stocks, or professionally-managed variable annuities or other
appreciated assets. By letting the CRT grow without taking income from it during the early years, the CRT can begin making payouts to you when you retire. These payouts can include makeups for any shortfalls in income you did not receive earlier. Unlike Qualified Retirement Plans like Pensions, Profit Sharing or 401(k) plans, there are no limits on how much you can contribute.
What Is A Charitable Remainder Trust ("CRT")? The donor avoids any capital gains tax on the donated assets, and also gets an income tax deduction for the fair market value of the remainder interest that the trust earned. In addition, the asset is removed from the estate, reducing subsequent estate taxes. While the contribution is irrevocable, the grantor may have some control over the way the assets are invested, and may even switch from one charity to another (as long as it's still a qualified charitable organization). CRTs come in three types: charitable remainder annuity trust (which pays a fixed dollar amount annually), a charitable remainder unitrust (which pays a fixed percentage of the trust's value annually), and a charitable pooled income fund (which is set up by a charity, enabling many donors to contribute). Detailed information regarding CRT's can be reviewed HERE. Then if you are interested in seeing what kind of CRT's scenarios can be developed spend some time on this CALCULATOR MODEL where you can ask all the "what-if" questions you want. Then contact us regarding the one-stop program to can design, implement, manage and provide annual reports for your Charitable Remainder Trust ("CRT"). |
|
|
Does your qualified retirement plan (this includes IRAs) have it's own succession plan (i.e. estate plan)? Does it only include your spouse or suppose you don't have a spouse. The information contained in the article NON SPOUSE BENEFICIARY RULES is very interesting. |
|
|
The MJGROUP VIRTUAL OFFICE is a well organized, secure and easy to use Internet based client service system. It allows the exchange and storage of printable PDF formats that can be accessed by any approved advisors. This will greatly simplify the creation and storage of documents and eliminate paper based binders, files etc. Clients and advisors can also exchange secure communications regarding sensitive financial information. To view a demo of this program go to MJGROUP VIRTUAL OFFICE ACCESS and enter office@mjgroup.com as the username and demo as the password. Click on the "Files" tab and you will be able to review the folder structure and some information loaded in the "QRP - Administration" and "QRP - Instructions" folders that you can open, review and print out if you desire. If you have any questions please contact the office. |
|
|
|
|
|
|
|
|
Copyright © 2010 - All Rights Reserved - MJ Consulting Group, Inc. |
