401(k) Retirement Plans

Summit Financial Group believes that the key to a great 401K-retirement plan is to have the right plan design, employer matching funds, regular employee communication and affordable administration. We can use a carrier's package or we can use a separate third party administrator to make sure that the service you receive is the very best and then let you pick the advisor or company with which your money will be placed. We are an independent agency with no contractual or production ties to specific carriers. As we seek the "best fit" for your firm's retirement planning needs, we often use retirement plans offered through companies such as AUL, Met Life, Lincoln, Standard, and Principal. The biggest difference, however, is that there is substantial service after the sale when you work with Summit Financial Group. It is all too common to see employers experience little or no service after the initial enrollment meetings. We believe it is imperative, that your chosen retirement planning firm provides consistent enrollment and education services. Summit recognizes this issue and we deliver what you and your employees need in this vital area of enrollment and ongoing education.

Many employers set up a retirement plan that allows an employee to make an election between receiving current compensation or having part of the compensation go to a qualified retirement plan, such as a profit-sharing or a stock bonus plan. This type of plan is generally called a 401(k) plan (referring to the tax code section that created this type of plan), a cash or deferred arrangement (CODA), or a salary reduction plan.

If your employer offers its employees a 401(k) plan, consider yourself lucky. Your employer has the difficult part of setting up the plan, administering it and paying any costs related to the plan, which can be quite high. All you have to do, however, is make sure you reap the rewards of having a 401(k) plan.

Securities offered through a registered representative of Walnut Street Securities, Inc. (Member FINRA/SIPC) Securities activities supervised from a WSS branch office at: 918-699-6521

5801 West Britton Road, Suite I-1, Oklahoma City, OK 73132