 Signature Trust
Tax-Advantaged Retiree Health Funding
The Signature (401Rx) Retiree Health Plansm offers Employers the opportunity to design a personalized Retiree Health Plan to match their primary business objectives. Employers select from an "a la carte" menu to design a benefit package that can be as unique as their Signature. Meaningful benefits that may be pre-funded include- Long Term Care, Medicare, Dental, Vision and other welfare benefits.
Once the Employer has determined the type of benefits to be offered to their Employer, the maximum funding amount is then actuarially calculated. This process determines the amount an Employer should contribute on an annual basis in order to meet the targeted funding amount. The funding amount is subject to change annually based on such factors as attrition, inflation and investment earnings. In addition, the Employer is not required to contribute the full amount, but instead uses it as guideline when considering how much fund. In lean years, the Employer may even elect to not contribute at all. The Signature Plansm must be offered for all employees on a non-discriminatory basis. Employers may, however, limit participation by excluding employees who are:
- Covered by a collective bargaining agreement;
- Under age 25;
- Have less than three years credited service;
- Seasonal, temporary or part time.
Employers always retain the ability to amend, modify or terminate participation in the Plan, however, plan assets may not revert back to the Employer and instead must be available to all participating employees for qualifying medical expenses.
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Recent News
June 12, 2013
Association Coverage Affected by ACA
The American Veterinary Medical Association announced earlier this year it would be ending its medical coverage for its 17,500 association members and their dependents on Dec. 31, 2013, bringing to light the issue of association coverage and how association plans could be affected by the Affordable Care Act. Read More
February 27, 2013
The Obamacare Calculator
Jay Jensen of Insight Benefits Group was featured in a podcast for Employee Benefit Advisor explaining how his new tool can help companies become more aware of the financial implications of PPACA. Read More
January 31, 2013
A Look Ahead Into How Healthcare Reform Will Impact the Insurance Industry
Jay A. Jensen of Insight Benefits Group joined a panel of featured speakers on a National Underwriter Life & Health Webcast which was held January 31, 2013. Read More
September 17, 2012
Insight Benefits Group Represented at Las Vegas Healthcare Consumerism Conference. Read More
November 8, 2011
Thatcher's Town Council unanimously votes to adopt the VAULT Plan for all Town Employees.
October 24th, 2011
STL, headquartered in Bloomington, IL elected to implement the VAULT Plan to enhance employee benefits while lowering overall costs.
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