What makes 401(k) plans so popular? Contribution flexibility and high contribution limits. A 401(k) plan often allows for the accumulation of a larger nest egg than an IRA because of the higher limit on pre-tax contributions.
Importantly, the AIA component 401(k) plan has been designed to overcome many of the barriers AIA components face when considering a plan for their staff. A component 401(k) plan can be designed to meet your needs and goals—and those of your board.
Stand-alone 401(k): Enables staff to make pre-tax salary deferrals without any contributions from the chapter.
401(k) with employer matching contributions: Enables staff to make pre-tax salary deferrals and the component to match a stated portion of salary deferrals.
401(k) with a non-elective contribution: Staff can make pre-tax salary deferrals and the component makes a non-elective contribution to every eligible staff member whether they choose to make pre-tax salary deferrals or not.
For all plans, Equitable Financial provides the tools component staff need to manage their investments, including dedicated Retirement Plan Account managers with deep knowledge about every aspect of the program. Find the right plan for your component.
A.M. Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) for Equitable Financial
The Members Retirement Program is funded by a group variable annuity contract issued and distributed by Equitable Financial Life Insurance Company (Equitable Financial) (NY, NY). A group variable annuity is a long-term financial product designed for retirement purposes. In essence, a group variable annuity is a contractual agreement in which payments(s) are made to an insurance company on behalf of retirement plan participants, which agrees to pay out an income or a lump-sum amount at a later date to those participants. There are contract limitations and fees and charges associated with group variable annuities, which include, but are not limited to, administrative fees and charges for investment management. Contact a Retirement Program Specialist for costs and complete details.
Equitable is the brand name of the retirement and protection subsidiaries of Equitable Holdings, Inc., including Equitable Financial Life Insurance Company (NY, NY); Equitable Financial Life Insurance Company of America, an AZ stock company with main administrative headquarters in Jersey City, NJ; and Equitable Distributors, LLC. Equitable Advisors is the brand name of Equitable Advisors, LLC (member FINRA, SIPC) (Equitable Financial Advisors in MI & TN).