The voice and
choice
of the commercial
construction industry.
Click here for the online
membership directory
© 2008 AGC Oregon-Columbia Chapter
9450 S.W. Commerce Circle, Suite 200,
Wilsonville, Oregon 97070
Phone: 503-682-3363 - 800-826-6610
Fax: 503-682-1696
|
Programs and Services
Safety
The Associated General Contractors,
Oregon-Columbia Chapter offers its members a choice of pension plans designed to serve
their needs. AGC plans are designed with contractors in mind and are great vehicles for
retirement savings. AGC Pension Plans can be tailored to the needs and budget of your
business. With guidance from qualified pension professionals, you can explore the design
and funding alternatives that work best for your business and learn how your company's
plan can meet your personal financial planning needs.
AGC Offers Members Three Plans:
Professionals from The Deering Group
work closely and individually with AGC members to clarify and provide information on
retirement plan benefits available through the AGC. They will provide on-site meetings,
educational programs for employees and ongoing service for owners and their employees. You
can contact our plan representative,
Jamey Hendricks at 503-620-6270 to set
up an initial meeting, or contact
Colette
Evers at AGC or 503-682-3363 for additional information.
Give yourself a
tax break and give your employees a valuable
benefit.
With a pension plan you can do both…..and more. A pension plan is
an important tool you can use to strengthen your business and reward the people who have
helped make it a success. A pension plan creates a win-win situation for you, your
employees and your business by offering:
A business tax deduction. Contributions to a pension plan are deductible as a business expense.
An important employee benefit. Employees appreciate the contribution
toward their retirement security, especially when it's not reportable as income. This
makes pension plans effective in helping you attract and retain competent people and
reward existing employees for their loyalty and service.
A way to diversify your company's investments. Pension funds can be
invested in a variety of ways to balance out your company's portfolio. Best of all,
pension investments grow on a tax-deferred basis for both you and your employees.
Few business investments
offer such a combination of features. And
putting them to work for your company is
easy...all it takes is good planning and good
advice. AGC Pension Plans currently offer 12 investment vehicles. Participants may direct the
investment of their accounts on a daily basis. Investment management is provided by
Principal Financial Group.
AGC Prevailing Wage
Pension Plan (money purchase pension plan)
A Money Purchase Pension Plan allows employer contributions up to 25% or $30,000 per
employee whichever is less.
The company makes all necessary contributions according to the plans provisions. These
contributions are generally intended to satisfy (or partially satisfy) the
state's prevailing wage law fringe benefit payment requirements. How AGC's Prevailing Wage Pension Plan Can Work for You:
- Improves company's cash flow.
- Allows the company to bid more competitively on Davis-Bacon or prevailing wage projects while increasing profits.
- Allows the company to escape all payroll taxes on the fringe amount (Workers' Compensation premiums, FICA, Medicare, FUTA, SUTA, and general liability costs on the entire fringe amount).
- Attract and retain highly skilled employees by providing a tax-deferred retirement fund.
- The Plan is designed to fully comply with Department of Labor regulations and meet DOL and IRS rules.
Benefit to Employees
- Earnings accumulate tax-deferred.
- Contributions made on behalf of plan participants are not included in current taxable income.
- 100% immediate vesting.
- Quarterly and annual reports are mailed directly to participant's home address.
How Are Contributions Calculated?
The company determines how much money will be contributed to the plan based upon the prevailing wage requirements for each employee group and with respect to each job or contract.
What Is the Cost?
There are no set-up charges for this plan and no fees for rolling over any participating balances in an existing plan to this plan.
AGC 401(k) Plan
In the 401(k) plan your employees make contributions and the company may or may not choose to match part of those contributions.
The AGC 401(k) plan can be used on a "stand alone" basis or in conjunction with the current "prevailing wage" pension program.
How AGC's 401(k) Plan Can Work for You:
- Most large companies offer employees a 401(k) program, but they have been priced out of the reach of most small companies...until now.
- Wide choice of investment options covers the whole range of investment risk.
- Attract and retain better-qualified workers with a 401(k) tax deferred contribution option.
Benefit to Employees
Employees save on a before tax basis, their contributions are deducted from their paychecks before federal and state income taxes are calculated thereby reducing their taxable pay by the amount they set aside as retirement savings.
What Is the Cost?
There are no set-up charges for employer participation in this plan and no fees for rolling over any participant balances in an existing plan to this plan.
AGC Qualified
Profit Sharing Plan
A profit sharing plan is one of the most flexible plans available because contributions to the plan may be determined annually. This flexibility makes profit sharing plans attractive to employers with fluctuating annual incomes and profits.
Benefits to Employers
Employers can use the profit sharing plan to reward employees during periods of high earnings and reduce or suspend contributions at other times.
- Contributions are tax deductible to the employer.
- Profit sharing increases employee morale and loyalty.
- Profit sharing plan contributions may be tied to a key business goal.
What is the Cost?
There are no set-up charges for employer participation in this plan and no fees for rolling over any participant balances in an existing plan to this plan.
|
|
