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BENEFIT PLANS

SPA offers a variety of benefits to meet your specific needs. We help you design a competitive benefits program that your employees will appreciate and that your organization can manage and afford. We handle multiple sites and have access to extensive national networks. Here is a sampling of some of the options available to our clients:

Comprehensive Health Insurance

A variety of plans to suit your company’s and your employees’ needs, as well as your budget. Many companies offer more than one option and allow employees to “buy up” to the richer plan, while controlling company costs. We present the options in easy to understand meetings with your employees.

Dental Insurance

We provide indemnity and managed dental plans that stand alone or can be connected to your health insurance.

Life Insurance

A valuable benefit for employees, often the only life insurance an employee has. Group life is generally provided as a multiple of an employee’s salary or a flat dollar amount. Supplemental policies can also be customized for key contributors.

Short Term Disability

Most employees would suffer serious financial hardship without a paycheck for even a short period of time. You can offer your employees valuable protection while having claims managed by a professional insurance company.

Long Term Disability

According to Social Security statistics, one out of three individuals will suffer a long term disability before retiring. Group long term disability replaces a portion of an employee’s earned income in the event of a prolonged illness or injury. Individual Long Term Disability policies can offer supplemental coverage for key contributors.

Employee Assistance Programs

“EAP’s” offer employees confidential access to referrals and counseling for personal issues that might otherwise effect work performance and productivity.

Long Term Care

Insurance and Medicare do not pay for nursing home care or custodial care in the home. Long term care insurance does, and protects employees from losing, in a short time, what they have worked a whole lifetime to acquire. Long Term Care programs can be structured for groups or key individuals.

Vision

These benefits can help offset the costs of routine eye exams, contact lenses and eye glass hardware.

Deferred Compensation

Sometimes traditional group pension and retirement savings program limitations may prevent an executive from saving enough towards retirement. Deferred compensation is an alternative whereby the employer promises to pay a specified amount in the future as supplemental retirement income in return for the employee’s services. Payment levels can be contingent upon achievement of specific performance goals.


RETIREMENT PLANS

Statistics prove that most individuals are not planning adequately for retirement. One way to retain valued employees is to reward them for their continued service through managed retirement plans.

401(k) Plan

These employer-sponsored retirement plans allow employees to put aside pre-tax dollars towards retirement through convenient payroll deductions. Some employers offer to match a portion of those employee savings. 401(k) funds can be invested in a broad spectrum of investment options.

IRA Rollover

These accounts allow individuals to transfer “qualified plan” tax-deferred retirement savings from a group plan to an individual plan, without losing tax-deferred status.

Annuities

Sometimes used in place of or in addition to other retirement plan programs, these accounts allow retirement savings dollars to grow on a tax-deferred basis.

Profit Sharing

Under this plan, the company can choose each year to set aside a discretionary percentage of employee salaries in individual employee retirement plan funds, including 401(k) Plans. These programs can reinforce employee “ownership” and accountability for overall company performance.


OTHER BUSINESS SOLUTIONS

Buy-Sell Agreement Funding

Upon the loss of a shareholder or partner, these accounts ensure available equity to buy out the partner or the partner’s family.

Key Executive Insurance

These policies help offset the financial impact on the business resulting from the loss of a key executive.

Security and Investment Advisory Services and Financial Planning Services  offered through Hudson Heritage Capital Management, Inc., 50 Tice Boulevard, Woodcliff Lake, NJ  07677, Member FINRA/SIPC.

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