NG Employee Benefits Savings and Insurance (NGEB)
Employee Benefit & Savings Program
NGEB’s program is a new, flexible employee benefit program which is able to effectively assist in the recruitment and retention efforts of businesses and companies within the U.S. Utilizing the special tax-advantaged savings benefits found within Indexed Universal Life insurance (IULs). NGEB’s program has three main uses:
- Primary Benefit Program – Where an organization seeks to initially offer an employee benefit, NGEB’s plan 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 plan has been designed to work in both of these environments. Because the program is a non ERISA benefit program, ERISA testing costs and compliance requirements are avoided.
- Optional Benefit Program – Where an organization has an established 401(k) or other defined contribution benefit program, NGEB’s plan can be used as an optional program for employees who may or may not be currently enrolled / participating 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), combines universal life insurance with tax-advantaged savings. By offering a tax-advantaged savings component that is indexed off indices such as the S&P 500 and provides a guaranteed base or floor of 0%, IULs provide an option for employees who would like to save for the future within a benefit plan that offers upside market potential without the risk of suffering from market losses.
- Supplemental Benefit Program – When an organization has key executives and employees that they would like to offer an additional benefit, NGEB’s plan can be used as a supplemental benefit program. For example, as a non ERISA benefit program, NGEB’s plan may be used in conjunction with or used to supplement “maxed-out” qualified plans.