Retirement

Plans That Grow Wealth

Your financial security goals are unique. Take the next step toward reaching them with the right retirement plan.

At Goldleaf Partners, our depth of retirement plan expertise and breadth of services provides you with the maximum resources available and the greatest flexibility possible. Let us help design the right option to fit your needs.

401(k)

401(k) plans are today’s most popular retirement plan. A powerful tool for promoting retirement security, the plans are also a valuable option for businesses considering a retirement plan for their employees.

403(b): ERISA and Non-ERISA Plans

A 403(b) is a retirement plan for employees of churches, educational institutions, and certain other tax-exempt organizations. The employer is responsible for establishing the plan and selecting the plan investments.

Profit Sharing

A Profit sharing plan is often used as an effective employee retention tool. By some estimates, close to 40% of companies offer profit sharing plans.

Nonqualified Deferred Compensation Plans

A nonqualified deferred compensation (NQDC) plan is an arrangement between an employer and an employee to pay the employee compensation some time in the future. The plan may be structured as an account for the employee, or may provide for specified benefits to be paid to the employee. The intent is to defer compensation to later years, when the employee expects to be in a lower tax bracket.

Defined Benefit – including Cash Balance, 412(i) Plans

Known as the traditional pension plan, a Defined Benefit Plan promises the participant a specified monthly benefit at retirement. Often the benefit is based on factors such as the participant’s salary, age, and the number of years the participant has worked for an employer. Goldleaf Partners expertly manages all technical and administrative aspects of defined benefit plans, backing them with local service.

New Comparability

New comparability plans are defined contribution profit-sharing plans that divide employees into groups. Contributions are allocated within each group according to age and compensation. Generally, higher rates of employer contributions can go to highly compensated employees in a new comparability arrangement vs. a stadard allocation formula. A plan is a qualified plan only if the contributions or the benefits provided under the plan do not discriminate in favor of highly compensated employees.

Employee Stock Ownership Plans (ESOPs)

ESOPs are a type of defined contribution plan that offers the employees of a company the opportunity to become stockowners of that company. The goal is to give employees a legitimate stake in the company as they work to improve its performance and profitability.

Davis-Bacon and Related Acts (DBRA)

The Davis-Bacon and related Acts (DBRA) require certain contractors to pay their laborers and mechanics at least the prevailing wage rates and fringe benefits for corresponding work on similar projects in the area. The prevailing wage rates and fringe benefits are determined by the Department of Labor (DOL) for inclusion in covered contracts. DBRA to contractors and subcontractors performing work on Federal or District of Columbia construction contracts in excess of $2,000.

Taft-Hartley

A Taft-Hartley plan is a type of 401(a) retirement plan developed for union employees. Under this type of retirement plan, many different employers collectively agree to contribute to their contractors'/members' retirement plans. Representing the employers as plan administrator is a board of trustees.

457 Plans

Plans of deferred compensation described in Internal Revenue Code (IRC) Section 457 are available for certain state and local governments, and non-governmental, tax-exempt entities under IRC Section 501. They can be either "eligible" plans under IRC Section 457(b) or "ineligible" plans under IRC Section 457(f).