Modern Woodmen now offers 401(k) plans

Modern Woodmen of America, Rock Island, Ill., has teamed up with PAi, DePere, Wis., to offer 401(k) plans for small-business owners.

Three different plans are available: a plan for sole proprietors, a safe harbor plan for businesses with two to 10 employees, and a plan for businesses that have more than 10 employees or are looking to design their own, flexible plan.

“These products offer small-business owners options to help their employees save for retirement,” said Jerry Lyphout, Modern Woodmen’s qualified plans manager. “The 401(k) offerings complement Modern Woodmen’s individual life insurance and retirement plan products, giving our representatives a full line of financial tools to help people plan for a secure future.”

A full-service administrator and record keeper for small-business retirement plans, PAi manages more than 5,500 retirement plans with $3 billion in assets and 450,000 participants.

Founded in 1883 as a fraternal benefit society, Modern Woodmen of America offers financial services and fraternal member benefits to individuals and families throughout the United States.

For additional information, contact Kim Woodward; (309) 793-5660