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Retirement
Plans - Investments, Administration and Consulting Services
Investment And Fiduciary Support Service (IFSS) For
Defined Benefit Pensions, Endowment Funds And Foundations.
HBS
offers the IFSS advisory service to trustees of defined benefit
pension plans,
as well as endowment
funds and private foundations to
comply with the obligations and responsibilities that come
with their fiduciary status. IFSS
clients can benefit from the following core services:
- diagnostic
review of existing portfolio;
- custom
investment policy statement;
- strategic
asset allocation;
- investment
manager search, selection, and ongoing review;
- quarterly
comprehensive performance reporting, with advanced portfolio
analysis;
- client
access to portfolio via a secure Web site; and
- trust
and custody services (optional).
IFSS is tailored
to meet each organization’s specific needs and is personally
delivered by HBS consultants to ensure that each client realizes
optimum results. There
is a modest asset-based fee for this service.
Unlike programs offered by competitors, HBS does not
receive any compensation from any investment manager used
in the portfolio.
Click the links
below to view samples of pages of information in the IFSS
Quarterly Investment Performance Reports.
Executive
Summary Page 1
Executive
Summary Page 2
Asset
Allocation
Monte
Carlo Simulation
Up-Down
Capture Ratios
Peer
Group Risk vs Return 3Yr.
Correlation
Matrix
Portfolio
Efficiency
Year
By Year Returns
Style
Allocation
Total
Portfolio Risk vs Return
Peer
Group Rankings
Equity
Portfolio Risk vs. Return
401(k), 403(b), 457, Roth IRAs – Tax Sheltered Annuity
and Defined Contribution Services
These services assist employers in the design, administration,
and communication of all types of defined contribution plans,
including 403(b) and 401(k) plans, and money purchase programs.
Services are geared to meet the best interests of both employers
and employees.
Mutual Funds and Variable Annuities
Through payroll deduction, tax-sheltered annuity plans allow
employees to save for retirement while reducing their taxes
on current income and deferring taxes on interest accumulated.
Employees decide how much income is invested, and contributions
are deducted from paychecks before federal and New York State
income taxes are withheld.
Plan Administration Services
Full-service administration is available for qualified defined
contribution plans such as 401(k) or money purchase plans.
These services include recordkeeping for participant accounts,
non-discrimination testing, 415 limit testing, annual government
filings, and hardship withdrawal and loan administration.
Plan Implementation Services
This service assists facilities wishing to create a new retirement
plan or improve an existing one. Consultants can help by presenting
and developing options, providing benefit/contribution projections,
drafting plan documents, and formally submitting the plan
to the IRS for approval.
Trust Asset Evaluation Services
Under this service, plan trustees receive an independent
evaluation of how plan assets and/or asset managers have performed.
This objective comparative analysis will review and measure
specific outcomes and investment practices. Assistance is
also available if the evaluation identifies a need to replace
the asset manager or provide new investment options.
Actuarial and Defined Benefit Services
These services are intended to keep defined benefit plans,
including cash balance plans, on track and on budget. Services
cover the design, funding, and communication needs of the
employer and employee as well as all governmental funding
requirements.
Maximum Exclusion Allowance (MEA) Calculations
Using a dedicated software system, this service performs
MEA calculations, determines the 403(b) catch up elections
and special limitations, and calculates maximum 415 limits.
The system is also capable of importing data electronically,
thus eliminating paper submissions.
Employee Communications
HBS develops a comprehensive communications package designed
to generate interest, encourage participation, and educate
employees. One-on-one meetings with a Registered Representative
are used to develop individual retirement goals and to implement
and modify strategies to monitor progress. Communication services
also include workshops, seminars, newsletters, and audio/visual
presentations on a variety of retirement topics.
Executive
Compensation Programs
Supplemental Executive Retirement Plans (SERPs)
Offers executive and medical professional compensation plans
for chief executive officers, key executives, and physicians
that which include deferred compensation, supplemental, and
restoration programs.
Executives' Retention Plans
Individually tailored plan(s) are developed based on objectives
of the organization, the plans are insured or self-insured,
and can include retirement, group, individual, and incentive
benefits.
Preferred Disability Plans
Underwritten for executives and physicians, the Preferred
Professional Disability Income Replacement plan is a top quality,
non-cancelable, individually-paid long-term disability income
insurance policy for the preferred professional.
Options Plan
Designed individually for executives to obtain maximum tax
deferral benefits and maximum investment performance on a
discriminatory basis. Options Plans are simple and inexpensive
to administer.
Split Dollar Insurance
This program is individually designed and underwritten by
an insurance company that provides protection on the life
of the executive. Features generally include some tax deferral,
creditor protection, discriminatory and cost sharing of the
plan between the employer and the employee.
Group
Benefit Programs
Benefit Statements
Personalized benefit statements that help employees better
understand the full scope of their compensation package and
the investments employers are making in them.
Business Travel and Accident Insurance
Available to employees while traveling on company business
or, if preferred, on a 24-hour basis.
Comprehensive Legal Plan
Provides affordable access to legal services including fully
covered legal advice and assistance for the most frequently
needed personal matters.
Dental Insurance
Offered as traditional indemnity, managed care, or self-insured
dental programs, this insurance pays a portion of the cost
of preventative dental care and other covered dental procedures.
Long-Term Care Insurance
A valuable benefit that can protect employees and their families
from the catastrophic cost of long-term care. There are programs
for nursing home care and both skilled and unskilled home
care.
Long-Term Disability Insurance
Its primary purpose is to provide income protection for prolonged
periods of disability.
Pharmacy Benefit Management
Available on an insured or self-insured basis, enables health
care facilities to provide a prescription drug benefit to
employees at a reduced cost.
Short-Term Disability Insurance (DBL)
Provides partial income replacement for employees who meet
the definition of disability with statutory short-term disability
benefits as required by New York State law. Enhanced option
plans are available, with buy-up options of up to $1,000/week
for a maximum of 26 weeks.
Term Life/Accidental Death and Dismemberment Insurance
(AD&D)
Termlife provides benefits to an employee’s beneficiary upon
death, while the AD&D policy provides benefits to the
employee or beneficiary for dismemberment or death resulting
from accidental bodily injuries. Spouse and dependent coverage
are also available.
Vision Care
Group plans that give employees and their families access
to a Preferred Provider Organization and provides vision care
products at wholesale cost, plus a small dispensing fee. Self-insured
programs and insured plans that include eye exams and other
features are also available.
Risk
and Liability Protection Programs
Directors and Officers (D&O) Insurance
Protects the personal assets of directors and officers from
potentially unlimited financial liability. Such loss may result
in litigation that finds the directors and officers personally
liable for real or alleged wrongful acts, erors, or omissions
in the performance of their corporate duties.
Equipment Asset Management Program (Maintenance Contract
Alternative)
Designed to set a fixed cost alternative to current maintenance
budgets and to consolidate all medical/business equipment
maintenance service contracts into one insurance contract.
Workers’ Compensation Program
A state-mandated coverage that provides employees protection
for on-the-job injuries or illness. It can be offered to employers
on a fully-insured or self-insured basis.
Voluntary
Programs (Payroll Deduction)
Auto, Homeowners, Renters, and Condominium Insurance
Provides employees and family members with auto, homeowners,
renters, and condominium insurance on a discounted group basis.
(May have geographic restrictions in New York State.)
Cancer Insurance
Deals directly with the unexpected costs associated with
a cancer diagnosis. There are also built-in incentives to
utilize wellness services.
Specified Disease Insurance
Added protection that provides employees and/or spouses a
lump sum benefit upon the diagnosis of a covered specified
disease.
Legal Plan
Gives employees and their families access to legal advice
through a monthly fee or at discounted hourly rates.
Life/Accidental Death and Dismemberment Insurance
Provides employees, their spouse, children, and grandchildren
the opportunity to obtain personal life insurance coverage
at affordable rates. Employees need not participate in order
to insure other family members.
Long-Term Care Insurance
An individually-owned policy that is available to protect
employees, spouses, parents, parents-in-law, grandparents,
and grandparents-in-law from the catastrophic cost of expenses
associated with care in nursing homes and qualifying home
health care services. Disability based and/or medical reimbursement
policies are available.
Long-Term Disability for Key Executives
This insurance provides quality, non-cancelable, long-term
disability income insurance for key executives. Policies are
individually owned.
Long-Term Disability Income Protection Insurance
Provided for health care employees, the policies are portable.
Medicare Supplement Insurance
Designed to supplement Medicare, this insurance provides
specific benefits that help fill the gap in Medicare coverage.
Personal Travel and Accidental Death and Dismemberment
Insurance
Offers full 24-hour, 365-day protection against accidents
anywhere in the world. It covers employees at home and at
work — even while on vacation. Spouse and dependent children
are also eligible for this coverage.
Short-Term Disability Income Protection Insurance
This is an individually owned short-term disability income
protection plan that provides a monthly benefit for employees
who are sick or injured. These policies are fully portable.
Vision Care
Offers a nationwide network of vision care products at wholesale
costs.
Links
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John Jezsu, Vice President
Margaret Harris, Director, Brokerage Services
One Empire Drive, Rensselaer, NY 12144
800.388.1963 - 518.431.7600
e-mail: hbs@hanys.org
fax: 518.431.7601
160 Allens Creek Road, Rochester, NY 14618
800.724.1887 - 716.241.1100
fax: 716.241.1101
1876 Niagara Falls Boulevard, Tonawanda, NY 14150
716.695.6377 ext. 221
fax: 716.695.6374
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HANYS
Benefit Services Newsletter
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