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Products July 10, 2012
Online Tool Targets NQDC Plan Needs of Business Owners
July 10, 2012 (PLANSPONSOR.com) - John Hancock Life Insurance’s Advanced Markets Group developed a technology tool to help with key employee retirement plan decisions.
Reported by PLANSPONSOR staff
With the Business Analyzer, advisers can help business owners determine the most appropriate nonqualified plan options available to help them address retirement and estate planning objectives for themselves and for key employees within the organization.
For small-business owners, attracting and retaining the right people is central to business success, according to Randy Zipse, vice president and head of the Advanced Markets Group at John Hancock. In many instances, the business owner and key employees may quickly hit the limit for savings in a qualified retirement plan like a 401(k).
The Business Analyzer helps advisers choose the optimal nonqualified plan options for their clients. An interactive decision tree facilitates data-gathering to help narrow nonqualified plan options such as a Restricted Endorsement Bonus Arrangement, Supplemental Executive Retirement Plan or Executive Bonus Plan. It assists in retirement funding issues as well as estate planning objectives.
The Business Analyzer simplifies the process of determining the right plan, Zipse said.
Jill Cornfield