“Our goal – to develop a retirement plan that meets your needs.”

Build Your Plan on a Solid Foundation
A retirement savings plan is essential to your success as a small-business owner. It can help you attract and retain quality employees, assist in improving employee morale and increase productivity, offer you an edge against your competitors in hiring new employees and it may also provide some tax advantages to the business.

Establishing and maintaining a retirement plan for your business is a major undertaking. You will want to make sure the plan and services you select meet your business needs. Whether your business has a plan in place or you’re interested in establishing a new retirement plan, it’s crucial to evaluate your situation regularly.

With more than 30 years of experience in retirement plan administration, we strive to provide quality service during and after the sale.

Cost…Can I Afford to Offer a Plan?
As the cost-conscious owner of a small business, you may think that a retirement plan is a luxury. In our opinion, it’s a benefit you can’t afford to pass up for yourself and your employees in our opinion.

Funded by tax-deductible contributions, a small business retirement plan can help:

  • reduce your business taxes
  • build a vital and retirement plan savings
  • provide an attractive benefit to recruit, reward and retain valuable employees.

Our team will help evaluate your company’s retirement plan needs. We will consider key factors like cost, plan features, recordkeeping services, tax implications and investment choices. Once you make a plan selection, our specialists will walk you through every step of the process, from plan design to daily administration.

  • Accumulation Planning
  • Distribution Planning
  • Business Planning

A retirement plan is more than a product or service – it’s a promise. A promise to yourself to help save for one of life’s biggest transitions.

We specialize in providing the right retirement strategies for our clients. Through extensive research, we built a comprehensive portfolio composed of quality retirement products available.

Defined Contributions Plans

  • Employer-sponsored qualified plans – 401(k) and profit-sharing plans offer employees a way to save for retirement.
  • Individual(k) – Also known as a “Solo 401(k)”, it allows self-employed individuals or small business owners to enjoy tax-deferred retirement savings, with larger contribution limits than a SEP IRA plan allows
  • 457(b) – This non-qualified deferred compensation plan is available only to state and local governments, and some tax-exempt organizations. Employers can match the employee’s contributions and also deposit money into employees’ accounts. These plans are often paired with 403(b) plans.

Defined Benefit Plans

  • Cash balance plans – A “hybrid plan” that contains features of both defined benefit and defined contribution plans. This permanent and ongoing plan is funded by the employer, who pays the promised benefit at retirement. The benefits may be paid in lump sum at retirement or as a source of income. This plan works in conjunction with a 401(k) profit-sharing plan to maximize benefit to the owner(s).

Retirement Income Annuities

  • Single Premium Immediate Annuities – Single premium immediate annuities designed to convert all or a portion of a client’s savings from an employer-sponsored retirement, pension or profit-sharing plan or from a client’s traditional IRA into guaranteed income at retirement.
  • Pension plan terminations – Single premium group annuities help plan sponsors with defined benefit plan termination or liability carve-outs.

SEP IRA: A Simplified Employee Pension (SEP) IRA is used primarily by self-employed individuals and small business owners who want a simple, easy-to-administer plan that allows annual discretionary contributions. SEPs are ideal for freelancers, independent contractors, part-time workers and individuals who earn any self-employment income from activities outside of their full-time Jobs


  • A SEP IRA generally reduces your taxable compensation by up to 20% of your net business income.
  • Annual contribution percentages may vary; annual contributions may be skipped.
  • Simple to establish and maintain; no government reporting.
  • Social Security integration permitted
  • Can be established up to tax-filing due date, plus extensions.

Simple IRA
Prospects for SIMPLE IRAs are business owners with 100 or fewer workers who would like their employees to share responsibility for their own retirement savings, but who don’t want the complexity, cost and administrative responsibility of a 401(K). Even people who are already covered by a retirement plan at their full-time job are eligible to contribute to SIMPLE IRA or Individual 410(k) (with some restrictions), as long as they have self-employment income.

Since annual employer contributions are mandatory, potential sponsors should be in a position to make an ongoing financial commitment to the plan.


  • Easy to administer; no discrimination testing or government reporting is required.
  • Allows eligible employees to make annual pretax, salary deferral contributions.
  • Additional “catch-up” contributions may be made by participants age 50 or older.
  • Employees can defer up to the annual maximum amount
  • No minimum participation requirements
  • Employer contributions are minimal – no more than 3 percent of compensation per employee maximum

401(K) plans are designed for businesses electing to have employees share responsibility for retirement savings. With features such as the availability of loans and hardship withdrawals, the 401(K) is one of the most flexible retirement plans available. As a result of these extra features, however, a 401(K) plan requires thorough administration.


  • Allows employees to make annual pretax, salary-deferral contributions
  • Additional “catch-up” contributions may be made by participants age 50 and older
  • Optional employer-matching contributions
  • Loans and hardship withdrawals may be available
  • Vesting Schedule is available
  • Part-time and seasonal workers (fewer than 1000 hours) may be excluded because of eligibility requirements.

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Securities offered through Mutual of Omaha Investor Services, Inc., A Registered Broker/Dealer Member. FINRA/ SIPC. Richard McDaniel, Registered Representative. Advisory Services offered through Mutual of Omaha Investor Services, Inc., a SEC Registered Investment Advisory Firm. Richard McDaniel, Investment Advisor Representative. McDaniel Financial Services and Mutual of Omaha Investor Services, Inc., are not affiliated. The information provided is general in nature. It has been obtained from sources believed to be reliable, but no warranty is made as to its accuracy, timeliness or completeness. The information is not intended, and should not be construed as legal, tax or investment advice, or a legal opinion. Consult with your legal, tax or investment professional before taking any action based on this information. This is not an offer of solicitation in any jurisdiction where we are not authorized to do business.