Retirement Planning

Clemons & Pierce, Inc. is an independent third party administrator that serves clients across the Southeast with administrative services for qualified retirement plans. We strive to provide quality service that will ensure that the retirement plan is in compliance with the tax laws, IRS regulations and ERISA reporting and disclosure requirements. We provide documentation and full-service, fee-based annual administration to Defined Contribution retirement plans.

We work closely with CPA’s and financial advisors to be certain that the client’s retirement plan is best suited for the company and its employees. As an independent third party administrator, Clemons & Campbell, Inc. offers plan sponsors the flexibility to select from an unlimited choice of investments under management at any time.

Whether the plan is trustee directed or participant directed, we have the flexibility to provide the administrative services required for qualified retirement plans. We are currently named as preferred TPA’s for: John Hancock, American Funds, Principal, Hartford, Lincoln Financial and AXA and have a working relationship with brokers, financial advisors, and banking institutions throughout Bay County and the Florida panhandle.

Retirement Questions, Concerns and Comments

What Type of Plan is Right?

In determining the right type of plan, the following should be considered:

  • age
  • length of service and income levels of employees
  • amount the employer is willing to contribute to the plan
  • whether flexibility is necessary
  • the cost of maintaining the plan

Steps for Establishment of a Retirement Plan:

  • Consider what type of plan is appropriate.
  • Determine what plan features will apply.
  • Determine who will invest the assets and who will be responsible for the administrative functions.

If you have ANY questions, or are unclear about certain aspects of Retirement Planning, feel free to fill out our easy to use contact form, and we would be glad to assist you.

For more information on qualified retirement plans, click on the following links to the IRS and DOL websites:

Profit Sharing and Money Purchasing Plans

A Profit Sharing plan allows an employer to make contributions to employees' retirement accounts. Contributions are discretionary on an annual basis and are normally based on the company's profitability.

Age Weighted and Cross Tested Plans

A cross-tested profit sharing plan uses an allocation method that converts contributions into a projected benefit at retirement. These generally allow for much higher contributions for the Highly Compensated group of employees. The cross tested plan must pass nondiscrimination testing in order to remain qualified.

401(k) Plans

A 401(k) plan allows employees to save for the future by deferring salary today on a pre-tax basis. Employers can choose to contribute to their employees' 401(k) plans through matching contributions.

Defined Benefit Plans

A Defined Benefit plan allows an employer to commit to making contributions to a tax-exempt common trust to provide a pre-determined monthly benefit at normal retirement. The contributions, determined annually by an Actuary, usually relate to an employee's service and/or pay.