Today more than ever, the primary responsibility for saving and planning for retirement seems to have shifted to the individual, yet many have not adjusted their behavior in response to this change. As a result, a large portion of the population is unprepared for future retirement. With the 2008 stock market meltdown, declining prices in home values, and the overall poor state of the economy, this is a particularly harsh reality for small firm owners who are more focused on simply staying afloat.
Small firm owners may be currently challenged with finding the time and resources to determine such things as whether their retirement plan satisfies their current practice scenario, re-evaluating their investment portfolio, figuring out how to file their 5500 Report electronically, and getting their retirement plan re-qualified by the April 30, 2010 deadline. The simple fact is: staying on top of these items while trying to run a successful business is often an insurmountable task.
For many, the solution may be both an expensive and time consuming proposition – hiring a third-party administrator, a record keeper, an investment advisor, an accountant and perhaps even an attorney. All these come with price tags and require more time than most small firm owners have to give.
Alternatively, a retirement program provider that offers bundled services may save a small firm owner both time and money. You typically have a single point of contact for all the facets of your retirement plan. From set-up through administration, you have access to dedicated professionals experienced in retirement planning to assist you at every step of the way.
For the past twenty years, AXA Equitable’s Members Retirement Program has been offering AIA members this type of “bundled” service mentioned above. If you are interested in finding out more about the Program, call 800-523-1125, ext. 5985 or visit us online.
The Members Retirement Program is funded by a group variable annuity contract issued and distributed by AXA Equitable Life Insurance Company (NY, NY). GE-54263 (3/10)