All variable annuities are offered by prospectus only. A prospectus can be obtained from the issuing company, by calling a representative of Northeast Securities and in some cases issuing companies make the prospectus available via the internet. These plans are only available to organizations with few than 100 employees. Retirement plan funding comes from voluntary employee salary deferral. There is no match for those who do not which to be in plan.
Employer has flexibility regarding length of employment when defining who is eligible for plan.
However, eligible employees must include those with one year service, and over 21. Part-time employees can be excluded. Limited cost turnkey plans offered. Employees salary reduction is made on a pre-tax basis and excludable from current income tax. Loans are permitted.