NG Employee Benefits Savings and Insurance (NGEB)
Employee Benefit & Savings Programs
NGEB’s programs offer a safer approach to employee benefits. NGEB’s programs are able to encourage savings as well as effectively assist in the recruitment and retention efforts of businesses and organizations. NGEB’s programs provide a basis for:
- Primary Benefit Programs – Where an organization seeks to initially offer an employee benefit, NGEB’s plans can be used as a primary benefit program. Whether your company is made up of one employee or if your organization employs hundreds of employees, NGEB’s plans have been designed to work in both of these environments. Because programs are non ERISA benefit plans, ERISA testing costs and compliance requirements are avoided.
- Optional Benefit Programs – Where an organization has an established 401(k) or other defined contribution benefit program, NGEB’s plans can be used as an optional program for employees who may not currently participate in the company 401(k) / other benefit program or those who are restricted in their participation such as highly compensated individuals. Indexed Universal Life insurance (IULs), combine universal life insurance with tax-advantaged savings. By offering tax-advantaged savings plans that guarantee a base or floor of 0%, IULs provide an option for employees who would like to save for the future within plans that offer upside market potential without the risk of downside market loss.
- Supplemental Benefit Programs – When an organization has key executives and employees that they would like to offer an additional benefit, NGEB’s plans can be used as a supplemental benefit program. For example, as a non ERISA benefit program, NGEB’s plans may be used in conjunction with or used to supplement “maxed-out” qualified plans.