Maui Human Resource Professionals

Section 79 Permanent Plans

Aloha from Business Planning Group. We are a national Third Party Administrator (TPA) for tax-advantaged, Section 79 Permanent Insurance Plans. We assist companies in the creation of IRS compliant plans that provide employees with tax-advantaged contributions, tax-deferred growth, protection for their families and assets during their working years and finally, tax-free distribution upon retirement.

We’re in your area

We service Maui, Hawaii. Let’s connect and see if a tax-advantaged Section 79 plan is right for your company. What works best for you?

  • Call Us: (888) 545-2205
  • In person meeting
  • Webinar (see right side of page for dates)

About Section 79 Permanent Plans

Section 79 Plans are a part of the employee benefit section of the IRC and includes benefits that are offered to employees at virtually all companies. If you are offering group term life insurance to your employees, you are already participating in Section 79 plans. In the Section 79 “Permanent” plans, participating employees can make plan contributions as high as 75% of their annual W-2 earnings based on the Section 79 guidelines. This is a perfect plan for attracting, retaining and rewarding key executives and employees at your company. Here are some of the important features of this available benefit:

  • Plan contributions are 100% deductible to the corporation as an employee benefit.
  • Plan participants can partially fund their plans with pre-tax earnings (this reduces gross income and current income tax liabilities).
  • Contributions will reduce participant’s income and also lower payroll taxes for both the participant and the sponsoring company.
  • Plans grow on a tax-deferred basis during the working years.
  • Unlike 401k plans, Section 79 Permanent Insurance plans allow for IRS penalty-free access to funds before age 59½.
  • Permanent plans include a tax-free death benefit for surviving beneficiary(ies).
  • Distribution may be made on a tax-free basis utilizing policy loan provision.

This Website is for informational purposes only and does not constitute a complete description of our services or product offerings. This website is in no way a solicitation or an offer to sell securities, investment advisory services, annuities, qualified plans, non-qualified plans or insurance except, where applicable, in states where we are licensed and registered. Information throughout this site, whether statements regarding products or services, taxes, the market or other financial information, is obtained from sources which we and our suppliers believe reliable, but we do not warrant or guarantee the timeliness or accuracy of this information. Nothing in this website should be interpreted to state or imply that past results of any investment or policy are an indication of future performance. Neither we nor our information providers shall be liable for any errors or inaccuracies, regardless of cause, or the lack of timeliness, or for any delay or interruption in the transmission thereof to the user. THERE ARE NO WARRANTIES EXPRESSED OR IMPLIED, AS TO ACCURACY, COMPLETENESS, OR RESULTS OBTAINED FROM ANY INFORMATION POSTED ON THIS OR ANY "LINKED WEBSITE." "Understanding Wealth", "Executive Wealth Builder" and "Final Gift" are registered trademarks of Business Planning Group.