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Experience We have been providing quality insurance for all types of rural and farm business including Custom Harvest insurance for over 25 years. We are an Agribusiness firm and no risk is to small or to large. We insure long haul trucking, cargo, home, auto,Farm Owners, Feed Mill and Elevator coverages. We also are an excellent source for life insurance, health insurance, annuities, IRA Accounts. Knowledgeable Staff Every person in our office knows how to serve your account. Competitive Rate We strive to provide quality insurance at reasonable rates. Availability We can be reached 24/7 via telephone, fax, E-mail, or our website. We want to be there for you. Meeting Your Needs We cater to the Agri Business at every level of production and service. forage, We insure Custom Harvesters of all small grain and cotton and you will get the same attention if you run 1 or 20 machines. If you are a farm owner we can insure your home, auto, crops, and machinery. If you own an Elevator, or are involved in agribusiness of any kind and we can help you with your risk management needs. We are able to do all types of confined animal insurance, hogs, feed lots, etc. . We have great irrigation rates for center pivots. If you need any agri business protection check us out. Customer Support We sponsor and attend safety meetings to provide a safe worksite. Rodgers & Associates Team Rodgers & Associates is committed to being one of the premier independent insurance agencies in Phillipsburg, Kansas. Our commitment is to provide customers with the best insurance value and service available, while maintaining the highest ethical standards and credibility with our clients, carriers, and the public. From Phillipsburg, Kansas we serve clients in North Dakota, South Dakota, Minnesota, Iowa, Nebraska, Oklahoma, Texas, Tennessee, Missouri and Colorado. Rodgers & Associates is a general independent insurance agency with a broad range of Commercial, Personal, Life, and Health products. We’ve aligned ourselves with some of the finest carriers to deliver these products to you. Established in the summer of 1970 as a one-man operation, Rodgers & Associates has grown to one of the premier insurance agencies in the Great Plains States. From our location in Phillipsburg, Kansas we serve middle America. Rodgers & Associates is currently owned and operated as a corporation and has over three decades of service history.

Lump-Sum Pension Payouts: Pros And Cons

Kimberly Beach Kimberly Beach , 3/30/2016
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4Last year, companies such as Ford, GM, and NCR Corp. gave their workers the option of converting their monthly pension benefits (annuities) into a lump-sum cash payment.

Look for more and more businesses of all sizes to follow in their footsteps, for a number of reasons.

A recent change to a federal pension funding reform law allows employers to use higher interest rates in calculating total benefit payouts, which reduces the size of the lump sum they offer. A series of IRS "private letter rulings" have permitted individual employers to convert their annuities into a lump sum within a specified period.

Lump sum payments reduce the size of the benefits obligation, as well as the financial risks of changing investment results that can make it hard for employers to predict future pension plan contributions. The smaller the plan, the smaller its assets, the lower the fees paid to investment managers. A reduction in plan assets and number of participants will also help lower overhead expenses -- offsetting an increase in the annual base premium per participant from the current $35 to $48 by 2014.

On the other hand, converting from annuity payments to lump sum payouts can mean increased expenses. For example, employers will need to track down participants who have earned a benefit and left the business, but aren't yet entitled to their annuity. What's more, federal law requires a company pension plan to be at least 80% funded before it can offer lump sum payouts -- which mean that some firms will have to pick up the cost for raising their plan funding level to this standard.

Do lump-sum pension payouts make financial sense for your business? Our benefits consultants would be glad to offer their professional advice at any time.