What Is MMG?

Retirement Plans Redefined

Qualified retirement plans come in all shapes and sizes. MMG is a third-party administrator that designs, implements and administers your retirement plan. MMG works on plans as basic as a 401(k) employee salary deferral-only plan and as complicated as a combination cash balance / profit sharing plan.

There are many nuanced differences among types of plans, and they can be tricky. Below is a brief synopsis of a few plan types. Ultimately, the best plan for your company is the plan that meets your financial and tax goals. Just let us know your objectives, and we will put together a retirement program that works for you and your company!

Retirement Plan Types
401(k) Salary Deferral Only 401(k) Safe Harbor 401(k) / Profit Sharing Plans Defined Benefit Plans
Cash Balance Plans
Combo Plans
Who is this for?
Employers who want to provide employees an option to save their own money without the potential obligation of an employer contribution

Owners who want to contribute for themselves, regardless of the level of employee contributions made

Owners who want to maximize contributions for themselves and valued employees

Owners who want to contribute significantly more for themselves than the annual 401(k) / profit sharing plan limits
Who contributes?
Participants contribute on their own behalf only

Participants and company contribute on participants' behalf

Participants and company contribute on participants' behalf

Company contributes on participants' behalf (possible participant contribution)
What are the limits?
Annual deferral limits on each participant ($18,500 deferral plus $6,000 catch-up contribution for participants 50 and older in 2018)

Annual limits on each participant ($18,500 deferral plus $6,000 catch-up contribution for participants 50 and older in 2018). Employer contribution of up to 4% of compensation.

Annual limits on each participant ($18,500 deferral plus $6,000 catch-up contribution for participants 50 and older, $55,000 total in 2018)

Annual limits calculated by an actuary (depending on age, can range from $50,000 to $375,000 in 2018)
How and when can I set this up?
Plan must be in place by the end of the plan year

Plan must be in place 3 months prior to end of plan year

Plan must be in place by the end of the plan year (3 months prior if safe harbor added)

Plan must be in place by the end of the plan year

Services

MMG works with our clients to develop the best retirement program for their financial, tax and retirement goals.

MMG OCPP® Retirement Plan Design

MMG is unparalleled in its ability to custom-design a retirement plan that provides valuable benefits to closely-held business owners and professional practice employers, while also providing targeted benefits to employees.

What is included?

  • Initial consultation
  • Define annual retirement plan contribution objectives
  • Review of prior year’s plan design to determine appropriateness for this year
  • Annual consultative interface
  • Provide estimates of contribution requirements for year-end planning
  • Annual review of existing design and proposal of new designs, if needed
  • Confirm eligibility and vesting requirements
  • Perform IRS non-discrimination testing
  • Prepare government Form 5500
  • Monitor deadlines and file extensions, if needed

Core℠ Service Model

Basic 401(k) plan design

Retirement plans with no design work needed, while still receiving MMG’s superior service and legal guidance.

  • Initial consultation
  • Define annual retirement plan contribution objectives
  • Review of prior year’s plan design to determine appropriateness for this year
  • Annual consultative interface
  • Provide estimates of contribution requirements for year-end planning
  • Annual review of existing design and proposal of new designs, if needed
  • Confirm eligibility and vesting requirements
  • Perform IRS non-discrimination testing
  • Prepare government Form 5500
  • Monitor deadlines and file extensions, if needed

Defined Benefit and Cash Balance Pension Plans

Pension plans with flexibility in mind.

What is included?

  • Initial design consultation
  • Actuarial determination of annual contributions
  • Review of prior year’s plan design to determine appropriateness for this year
  • Annual check-ins to ensure design still aligns with contribution goals
  • Provide estimates of contribution requirements for year-end planning
  • Confirm eligibility and vesting requirements
  • IRS non-discrimination testing
  • Prepare government Form 5500
  • Certification by actuary
  • Monitor deadlines and file extensions, if needed

What are your contribution objectives?

Contact MMG today: info@mand.com or 215-222-5000 to get a no-fee, no obligation quote.