Retirement
Save For Your Future
Our retirement offerings have been the core of Associated Benefits Corporation since our beginning. We understand that creating a sustainable future is a driving force for cooperatives, and we recognize the weight these benefits carry in employee recruitment and retention.
We offer a variety of retirement plans that can be customized to best fit your cooperative. By partnering with industry leaders to fulfill these benefits alongside our highly qualified ABC team, you can feel confident that your employees and their investments are well taken care of.
Defined Benefit Pension Plans
ABC administers two pension plans for the cooperative system: The Contributory Retirement Plan for Cooperatives and The Noncontributory Retirement Plan for Cooperatives. These pension plans have been a core of our service offerings since the 1950s, and we’ve adapted them over time to meet the evolving needs of cooperatives and their employees.
We work with our legal counsel, trustee, actuaries and discretionary money managers to maintain our pension plans’ status as leaders in the industry. We offer a variety of pension distribution options to fit a wide range of employee circumstances, and we’re happy to walk through these options with your team to help them choose the right plan for them.
Our pension plans also come with access to RetirementFocus, a secure, easy-to-use platform that helps employees track their benefits, model retirement scenarios and plan ahead—all in one place.
Market Rate Cash Balance Plan
(401)k Plan
ABC developed the 401(k) Thrift Plan for Cooperatives in 1986, and the continued improvements guided by our legal counsel, trustee and investment advisors help this plan remain a leader in the industry.
Bringing nearly 100 cooperatives together, our members can access top-quality shares/funds at the lowest possible cost. Using this plan design, our members retain more of their hard-earned money for retirement.
We utilize Principal as the trustee and recordkeeper for 401(k) plans, and their resources are readily available to your team. Plan participants can log into their online Principal account at any time to view their account details.
Non-Qualified Retirement Plans
Non-qualified plans give employers flexibility to customize benefit arrangements for key employees, helping with recruiting and retention.
ABC offers non-qualified supplemental pension plans recognizing wages over the IRS qualified plan limits, but still mirroring the benefit formula of the qualified pension plan. ABC also offers deferred compensation programs that allow key employees to defer compensation into a tax-deferred account until retirement.
Employers can also make discretionary contributions into key employees’ accounts. Non-qualified retirement plans are governed by Section 409A of the Internal Revenue Code.
Get Started
Our highly-qualified ABC retirement team brings 40+ years of combined experience, ensuring that your employees are well taken care of and have effective resources to answer their questions.