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About Us
Executive Benefits Design Group, exemplifies the best of American education, creativity, innovation, leadership and hard work. The principals and staff have demonstrated a commitment to personal and professional excellence, a willingness to explore new territories, and an ability to provide excellent results to clients and customers. They bring a variety of talents and accomplishments to this organization that make it unique in pension administration and an attractive partner in this growing area.
EBDG is an independent third party administrator. We are committed to providing the highest level of integrity to the defined benefit plans we administer. The company's origins date back to 1984, when Nick Paleveda developed the law firm of Hampton, Paleveda, Murphy, Cody & Levy in South Florida. The Firm's practice included designing qualified plans for a growing client base. Soon after, Congress passed the Tax Reform Act of 1986 making qualified pensions prohibitively expensive for small businesses, effectively ending this area of legal practice. However, this market was not forgotten by Mr. Paleveda. He recognized that the potential benefits for small businesses was so important that eventually Congress would recognize them again. In the interim, Mr. Paleveda continued to pursue the law firm's other areas of specialization: tax and estate planning.
Eventually Mr. Paleveda moved from the legal side to the insurance and financial services side of the estate planning market, while continuing to monitor developments in the retirement planning laws. In the late 1990's, Mr. Paleveda became aware of two trends in Congress that would have a dramatic impact on law practice and the insurance industry:
1. The estate tax was coming under increasing fire, and;
2. Congress was recognizing that far too many Americans had no retirement savings.
In the Tax Relief Act of 2001, Congress passed significant legislation in both areas, which revived tax planning opportunities in little known areas which Mr. Paleveda had continued to monitor.
EBDG was formally incorporated in February of 2006 to fill a void in the fast-growing market of custom defined benefit pension plans.
Plan participants and their advisors can be confident that all legal requirements have been carefully addressed to provide effective retirement strategies and security for their retirement income. The plan documents have been carefully drafted by a team of experienced, qualified tax professionals, relying on the guidelines promulgated in the Internal Revenue Code, IRS Rulings, Treasury Regulations, Department of Labor Regulations, and requirements of the Pension Benefit Guarantee Corporation. Our experience has shown a strong demand for the Fully Insured Defined Benefit Pension Plan in this marketplace.
While Congress has simplified the requirements to implement these plans, that has not eliminated the need to meet the other requirements of the Internal Revenue Service, the Department of Labor (DOL), and the Pension Benefit Guaranty Corporation (PBGC) in administering the plan in accordance with ERISA as amended. The duties of the plan administrator are set forth in the trust instrument, and center on record-keeping, filing of federal forms, and annual meetings with each employer.
A.R.I.S., Inc. supervises the operational compliance of these plans and the administration of the 5500 series along with the plan amendments. A.R.I.S., Inc. uses Revenue Ruling 74-307, the safe harbor, in determining the allocation of the funds to the life insurance contract and the annuity contracts. These policies mean that the plan sponsors, the participants and the financial advisors can be confident that the plans will not be challenged by the IRS in the event of an audit.
Summary
We Administer
Plan Design, Plan Installation/Qualification, Plan Administration, IRS/DOL Filings, Actuarial Services
Our attorneys have superior credentials in tax and estate planning, and every attorney is licensed to practice in one or more states. Each of the corporate officers has at least ten years experience in the legal or financial industries. These professionals have built their careers on collaboration, high professional standards and solid, consistent client-centered practice. They understand the importance of mutual support in creating successful long-term relationships.
Finally, the level of on-going support available to our affiliates cannot be surpassed. We have an experienced, well-qualified professional staff to monitor the legislative and regulatory changes affecting plan administration. The attorneys and financial advisors affiliated with EBDG are invited to participate in nationwide teleconferences at regular intervals.
Among Our Clients
Accounting Firms, Architectural Firms, Construction Companies, Financial Institutions, Law Firms, Medical Corporations, And Many More
Mission Statement
The mission of Executive Benefits Design Group is to set the industry standard for excellence in plan design, marketing support, and plan administration for qualified and non-qualified retirement programs. Our goal is to link a national network of select attorneys, CPAs, retirement planning consultants, financial advisors and pension administration companies into a multi-disciplinary team who strives for professional excellence. Our market is highly-compensated professionals, business owners, and core management groups.
EBDG values integrity and customer satisfaction. We demand excellence and efficiency from all of our employees and affiliates in delivering these diverse services to our clients.