Broker Check

Pension & Retirement Planning

Whether you are a current retiree or a pre-retiree…we will tailor a retirement strategy which best fits your goals and objectives and your quality of life.

For pre-retiree’s….there has never been a better time to start saving while at the same time....receiving a substantial tax deduction! Employers-big or small, professionals or self-employed individuals.....we'll customize the right pension solution for you! Our years of experience, expertise and rock solid relationships for almost 30 years have enabled us to bring the “best of the best” to the table: CPA's, Pension Actuaries, and Investment custodians.

“Our internal process in the retirement arena is quite unique. Our process has enabled us to develop pension strategy working directly with the client, your CPA or ours, and our actuary in a team approach. Often times, we bring our actuary directly into the field to create, change or modify plan designs, adjust contribution amounts, run tax scenario’s, and so on. We work directly with your CPA and actuary not indirectly with a third party administrator”

It’s confusing! There are many types of retirement vehicles available:

  • Defined Benefit Plans
  • Cash Balance
  • 401(k)
  • Solo 401(K)
  • Money Purchase Plans
  • Simple, SEP/PS, IRA, Roth’s
  • Non-Qualified Deferred Compensation Plans

Recent changes in the tax laws have upped the pension contribution limits making setting up these plans a breeze. In addition, recent IRS rulings have made it easier for owners to get the most out of their plans. Contributions to the plan are deducted from taxable income, growing tax-free until the money is withdrawn at retirement. "It's a no-brainer" when you're looking for ways to save on taxes.

“For many baby boomers now in prime earning years, a Defined Benefit plan can significantly increase annual tax deductions, add $2 million or more in retirement assets over the next 5 to 10 years, and even accelerate the date of retirement. The tax savings are tremendous. The tax savings are elevated even higher by considering a “Combo”, paring a 401(k) plan, profit sharing plan and a DB plan. This has been a standard tool to provide flexibility and to increase contributions since passage of EGTRRA.

The plans are particularly attractive to the self employed or small business owners; to illustrate: 1 to 10 person companies, aged 45 to 70, who can contribute and deduct from taxes $100,000, $200,000 or more annually. This is absolutely staggering when considering a tax computation of a pension contribution at the 40% bracket ($100,000 * 40%) = $40,000 tax savings-simple math.”

Smaller Plans

If you need to save a lot in a short time, your best bet is a defined benefit plan (DB). They work well for small businesses in which owners are compensated a great deal more than other employees. Especially, works well where the owners are a bit older than the rest of employees. DB's provide a fixed income stream after retirement. Only employers contribute to these plans. There are no contribution limits.

Summary of advantages of a qualified plan:
* Employer contributions are deductible.
* For the employee, employer contributions are tax deferred and plan earnings are tax deferred.
* The employee account is not subject to claims of creditors.

Longman WealthCare Management, LLC’s claim to fame has been its ability to significantly reduce our client’s income taxes while at the same time allowing sizeable contributions into their retirement plans. If you’re self-employed, your retirement choices are not restricted to IRA’s, 401(k)’s and other Defined contribution plans.

Since January of 2000, Congress has passed a series of laws that increase the flexibility and power of DB plans for high-income baby boomers. These changes raise annual benefit amounts, broaden the range of suitable participants, and increase flexibility.

Larger Plans

More than ever, your retirement plan is a critical part of your benefits package. Today, employers face the challenge of retaining and rewarding high-quality employees while at the same time satisfying various regulatory, company, funding, and tax requirements.

Longman WealthCare Management, LLC can provide you with a well-designed and properly managed retirement plan that allows you to meet personal fiduciary obligations while enabling you to make the most of our business assets.

Longman WealthCare Management, LLC provides fee only fiduciary investment consulting services to plan trustees. For trustee clients, recommendations are developed based solely on specific needs, circumstances and goals of the plan.

Your Retirement Advantage

Key Disciplines to Effectively Manage Your Plan

Sophisticated Consulting and Plan Design
Our consulting services create a strategic framework for retirement and wealth accumulation plans.

Independent Investment Advisory and Co-Fiduciary Capabilities
We provide independent investment advisory services to guide you in the design and oversight of the plan's investment option and to alleviate a portion of your fiduciary liability.

ERISA 404(a)(1) requires a plan fiduciary to discharge his or her duties for the exclusive purposes of providing benefits to participants and their beneficiaries and defraying reasonable expenses of administering the plan.

We help you mitigate fiduciary liability by holding regular plan review meetings, implementing an Investment Policy Statement and documenting the decision-making process.

Customized Communication and Education
We help motivate plan participants through personalized information and interaction. Participants can access plan and investment information themselves or with the help of experienced, licensed client service center representatives.

Comprehensive record keeping and administration
We deliver tools and resources to effectively manage and oversee plan administration, minimizing the burden on your organization by centralizing these activities.

State-of-the-Art Technology For You and Your Plan Participants
You want a seamless platform to enable you to monitor plan activity, handle administrative functions, and communications with participants. Your employees want easy access to their accounts, plan information and education. We continually invest and improve our cutting edge technology platform, providing the following state-of-the-art services:

For the Sponsor

  • On-demand sponsor reporting
  • Real-time activity tracking
  • Payroll uploads
  • Participant account access
  • Real-time messaging and publishing to participants
  • Client defined access rights
  • Single sign-on for qualified and non-qualified plans
  • Electronic signature capabilities
  • Online enrollment monitoring
  • Client service center
  • Online investment research center

For the Participant

  • Single sign-on for qualified and non-qualified plans
  • Real-time personal performance and rate of return
  • Electronic signature capability
  • Online enrollment
  • Integrated advice and planning
  • Comprehensive suite of financial calculators and education
  • Online investment research center
  • Client service center
  • Online statements
  • Online trading and transactions.

Pension and Retirement Planning services offered through  our affiliate, Thomas J. Longman C.P.A., P.A.

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