Pension Planning

Working Small Business Retirement Plans

If You Can Find The Prospects
American National’s Pension Planning Division Can Do the Rest
There has never been a better time to be in this market for small businesses. New tax laws contain numerous provisions designed to encourage the establishment of pension and profit sharing plans in the small business. Let us help you capitalize on the renewed interest by prospects as they become aware of the advantages contained in the new law.

Five Easy Steps:

  1. Find and Speak with Prospects About Small Business Pension Planning
  2. Submit a Census Form (Basic Information About Their Staff) to American National
  3. American National Prepares New or Alternative Plan Options
  4. American National Installs and Administers the Plan
  5. You Get Paid
Additional information: View the Retirement Plan Review Webinar Pension Design Questionnaire 2014 – Fillable Pension Sales Guide Small Business Retirement Bro – 9011 Why American National?  
Life Insurance

Life Insurance is a Promise

Presented by Gary Peterson It’s easy to discuss the need for protection for our homes and autos. Life Insurance is different. When we talk to our clients, we need to tell a story about the value that life insurance brings to their family. As we enter into a new year, here’s an article that will help you increase your Life insurance sales by reminding us, as professionals, to let our clients know the Hope that Life insurance brings to them. Let Financial Brokerage be your support in 2015. Life Insurance is a Promise
Annuities

Non-hardship Withdrawals

Presented by David Corwin If you’re like most of the agents I work with, you’re running out of ideas to share with your clients or wondering what you can do to improve your client’s retirement accumulation planning. Under qualified retirement plan regulations, generally speaking, you can’t make a withdrawal from your plan unless you terminate your employment or your plan is terminated. You can access your plan money before retirement if you qualify for hardship withdrawals – which is usually a result of death or disability. However, you can take money out of your retirement plan while still gainfully employed by way of a Non-hardship (sometimes called in-service) withdrawals. These withdrawals are only allowed for people who are participants in 401(k), 403(b) and profit-sharing plans, and only to the extent of an individual’s vested balance in the plan. If allowed by your employer, in-service withdrawals can give you access to your retirement assets, thus giving you more control over them. It’s important to note that not all company-sponsored retirement plans offer these in-service withdrawals. Why would your client want to make this type of withdrawal prior to retirement? • More flexible in the investment choices that may not be offered in their current plan. • To simplify estate planning. • Professional Guidance: You may choose to have your retirement plan assets managed by a professional and may need to make a plan withdrawal to make that possible. • Income planning – your client may want to plan for retirement so that they know exactly how much they will have to live on (Roth IRA). The Tax Increase Prevention Reconciliation Act (TIPRA) tax laws now permit in-service, non-hardship withdrawals before age 59½. If the employer plan permits, the employee must also be eligible to take a distribution from the plan, and the funds have to be eligible for a direct IRA rollover. Your clients should request a copy of the Summary Plan Description (SPD). If you ask and no one seems to know where it is, then call the toll-free number on your plan statement and ask a person if in-service, non-hardship withdrawal distributions are an option. If permitted, also inquire if withdrawals will prevent you from further participation in your employer-sponsored plan (be sure to check on this). If it is permissible and you want to make the move, you better make an IRA rollover with the assets withdrawn. If you don’t, that distribution out of your qualified retirement plan will be slapped with a 20% federal withholding tax and federal and state income taxes. Yes, you will also incur the 10% early withdrawal penalty if you are younger than age 59½. Additionally, if you have taken a loan from your 401(k), any in-service withdrawal might cause it to be characterized as a taxable distribution in the eyes of the IRS. Obviously, this IRA rollover possibility isn’t exactly making your plan provider all that happy, but many employees would like broader range retirement options and some would like vehicles designed to produce future income streams.
Life Insurance

What Social Security Seminars can do for YOU –…

Presented by Brian Leising Let’s put our two problems (you need more clients, pre-retirees need professional help) together and come up with a plan to help both parties. How many of your clients nearing retirement know their optimal social security filing option? What if you could help them make sense of governmental red tape and demonstrate potential consequences? What if you could sell a lot more permanent life insurance and annuities by doing so? Your clients know they can file for social security when they get older but most people have no idea when it’s best to file, that different filing options exist, or realize the financial consequences of those options. Producers all across the country are experiencing PHENOMENAL SUCCESS implementing Social Security Maximization Seminars. By hosting “no food” seminars at local libraries and community colleges, they are filling rooms with more prospects and at less cost than old-fashioned dinner seminars. The numbers back this up. I interviewed several producers in the past year. Here’s the feedback. A seminar will put you in front of 60-80 people per week on average. One third will say thank you and you will never see them again. One third will request a free social security analysis and may give you another appointment down the road. One third will be interested in a full retirement planning analysis – from YOU! This opens up new multiple annuity, life insurance and long term care sales. How do you get started? Familiarize yourself with the concept first. Financial Brokerage can provide materials to help you learn at your own pace, including written material, training videos, software and actual consumer workbooks. Armed with that knowledge, put it to the test. Call your clients that are approaching retirement but have not yet filed for social security. Target ages 55-62. Walk them through the process. Now you know more than 99% of the country. Pick a date and we’ll discuss how we can help you host your first Social Security Maximization Seminar.