August 1, 2024
Transform Retirement Savings for Seasonal and Part-Time Workers!
Maximize your earnings with FICA Alternative.
You could miss out on a significant group sale if you don’t address retirement benefits for part-time, seasonal, and temporary (PST) employees with government plan sponsors: including, local school districts, towns, cities, and state agencies.
FICA Alternative group plans deliver substantial benefits to:
- Government Employers
- By reducing payroll tax expenses (up to 6.2% savings) compared to Social Security requirements, which can significantly lower overall labor costs.
- Part-time, Seasonal & Temporary (PST) Government Employees
- These plans offer portable retirement savings benefits that PST employees would otherwise not have access to through Social Security. This benefit helps attract and retain critical workforce resources.
- Financial Advisors/Agents (YOU)
- You could earn compensation based on large lump-sum group annuity funding and consolidated group-level premiums, PST employee-participation is mandatory.
It’s time to revisit your current employer relationships!
Plus, FICA Alternative payroll slots qualify for the Slot Bonus Program.
With a FICA Alternative plan, employers can save 6.2% on payroll taxes for PST employees. Employers can also attract and retain PST employees with a FICA Alternative plan, since it provides them with a portable retirement savings plan that they own, take with them, and keep forever. Savings grow more rapidly due to the deferral tax associated with their retirement account. Contributions are pre-tax and employee take-home pay is similar to social security.
Communicate with employers
The following tools will help employers and employees understand the benefits.
Welcome to Your FICA Alternative Retirement Savings Plan
Welcome to Your FICA Alternative Retirement Savings Plan – Employers communicate with PST prospects and employees
Employee flyer
FICA Alternative Plan: A retirement program that benefits you and your part-time employees.
Employer flyer
Your Group Annuity Retirement Benefit
Your Group Annuity Retirement Benefit – Employers and employees understand the annuity offering
Employer and employee flyer
Retirement Resource Blog
Recruit and Reward Part-time Employees with a FICA Alternative Retirement Plan
Recruit and Reward Part-time Employees with a FICA Alternative Retirement Plan: Part-time, seasonal, and temporary (PST) employees are a critical workforce resource yet are excluded from many full-time employee benefits.
FICA Employer Email Template
A FICA Alternative Retirement Plan Benefits You and Your Part-Time Employees: Eliminate your payroll budget for PST Social Security payments.
Employer email – included open fields for personalized contact information. Log into the Agent Portal to retrieve this Outlook email.
FICA Alternative Agent to Employer – OUTLOOK EMAIL
IMPORTANT NOTE
FICA Alternative 3121 Plans are not available in all situations.
Please contact your Retirement Services Relationship Manager should you have questions:
