PSI administers over 1000 retirement plans in the U.S. and Puerto Rico. Our clients range from one-person sole proprietorships to corporations with more than a thousand employees.
However, this wide-ranging experience does not mean that we apply the same cookie-cutter formula to each situation. At PSI, we take special pride in our ability to craft a custom retirement plan that works with the demographics and objectives of a particular client.
It’s our policy at PSI to begin each project with a learning period: collecting employee and employer data; researching and assessing the needs of each client. Only after we’ve become knowledgable about the client’s business can we begin to design a retirement plan that’s tailored to their needs and circumstances.
Each job starts with a thorough analysis, which is used to create a customized retirement plan.
By arranging the plan specifics to a given business– with its own unique demographics, objectives and growth patterns– we can better manage and optimize owner contributions, tax implications, and the outcome for all concerned.
Here are a few of the factors we take into account in the initial assessment:
- Employee demographics
- Income levels
- Cost constraints
- Retirement goals of management and employees
- Tax liabilities
- Employee participation
- Funding options
- Related issues specific to the client’s industry or business.
Our staff includes two ERISA attorneys as well as a certified legal assistant. We also have onboard a full-time actuary who understands the confluence of risk management and demographics. This type of experience allows us to apply expertise to every level of the process.