CAHILL INVESTMENTS INC
DBA: PEAK SOLUTIONS FINANCIAL & INSURANCE SERVICES
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Cahill Investments Inc
The Agency Corporation is committed to providing a diverse range of services, specializing in Retirement Planning, Real Estate, Tax Preparation, and Insurance Solutions, alongside a robust presence in the Commercial Cleaning Industry. With a focus on tailored strategies and exceptional execution, we strive to empower clients and maintain high operational standards across all service areas.
CORE SERVICES
Insurance Services
Retirement Planning: Expertise in pension maximization, IRA management, 401(k), Roth, 403(b), and 457(b) account strategies, ensuring clients achieve sustainable retirement outcomes.
College Planning: Tailored solutions to help clients effectively plan for educational expenses.
Insurance Services: Premium flexible life insurance options, leveraging partnerships with Midland National Life Group, Surance Bay, and 10-15 additional insurance providers.
Tax Preparation: Comprehensive tax planning to optimize financial health and minimize liabilities.
Real Estate Planning: Strategic guidance to enhance the value and growth potential of real estate investments.
Key Company Partners:
3. Surance Bay: An IMO that handles 12 insurance carriers appointed & listed below.
3.3 Allianz (PREFERRED ANNUITY)
3.4 American Equity Investment Life Ins Co
3.5 American Life & Security Corp (ALSC)
3.6 Athene Annuity & Life Company
3.8 Fidelity & Guaranty Life Insurance Company
3.9 Guaranty Income Life Ins Co
3.10 Investors Heritage Life Ins Co
SERVICING COMPANIES PORTAL
INSURANCE CRMs
WealthBox
Keap
Stages
Common Terminologies and Functions
Internal Terminology
E-App: Online Applications on either servicing sites (Midland National, National Life Group & Surance Bay)
Acord Form: Transfer Paperwork from the Application Form
SRA: Salary Reduction Agreement
TPA: Third-Party Administration (School's Head Office)
What is Acord Form or Transfer Form:
When processing transactions with Midland National Life, National Life Group, or other carriers, the ACORD Form may or may not be required.
Each carrier has its own policies and procedures, and some may accept the ACORD Form for certain transactions, while others may require their own proprietary forms for things like fund transfers or policy surrenders.
To avoid any confusion or delays, it's important to confirm the exact requirements with the carrier. If necessary, contact their customer service or agent support to ensure you're using the correct form for the transaction at hand.
This will help ensure the process goes smoothly and efficiently.
Salary Reduction Agreement (SRA):
A Salary Reduction Agreement (SRA) in California allows employees to reduce their pre-tax salary to contribute to retirement or benefit plans like 403(b) or 457(b) accounts.
Key Benefits:
Tax Savings: Contributions are pre-tax, lowering taxable income and growing tax-deferred.
Retirement Savings: Encourages systematic savings, often with employer matching, meaning employers contribute additional funds to match a percentage of the employee's contributions.
Employers must comply with state and federal regulations, making SRAs a tax-efficient way to invest in retirement or benefits.
Third-Party Administration/ School Head-Office:
The School Head Offices or School Administrators (T.P.A.) handle a variety of financial and administrative tasks related to employee benefits, compensation, and compliance. In addition to Salary Reduction Agreements (SRA), loans, and exchanges, they may also manage:
Retirement Plans: Administration of 403(b) plans, pension plans, and other employee retirement benefits.
Health and Welfare Benefits: Managing health insurance.
Tax Withholding and Reporting: Ensuring proper tax deductions, filings, and compliance with federal and state tax regulations.
Compliance and Regulatory Reporting: Ensuring that the school district complies with local, state, and federal laws, including ERISA (Employee Retirement Income Security Act) and other benefit-related regulations.
Specialized Terms
Underwriting: The process insurers use to evaluate risk and determine premiums.
Actuary: A professional who calculates insurance risks and premiums.
Reinsurance: insurance purchased by insurers to spread risk.
Grace Period: The time allowed to pay a premium after the due date without coverage lapsing.
Subrogation: The insurer’s right to recover costs from a third party responsible for a loss.
General Terms
Policyholder: The individual or entity that owns the insurance policy.
Premium: The amount paid periodically to the insurer to maintain coverage.
Deductible: The amount the policyholder pays out-of-pocket before the insurer covers a claim.
Claim: A request for payment by the policyholder to cover losses as per the policy terms.
Coverage: The protection or benefits provided under an insurance policy.
Exclusion: Specific conditions or circumstances not covered by the policy.
Endorsement (Rider): A policy add-on that modifies or extends coverage.
Beneficiary: The person(s) who receives benefits from a life insurance policy.
Life Insurance
Term Life Insurance: Coverage for a specified period, such as 10, 20, or 30 years.
Whole Life Insurance: Permanent coverage with a cash value component.
Cash Value: A savings component in permanent life insurance that grows over time.
Death Benefit: The amount paid to the beneficiary upon the insured’s death.
Health Insurance
Co-Payment (Co-Pay): A fixed amount paid by the insured for medical services.
Co-Insurance: The percentage of costs shared by the insured and the insurer after the deductible is met.
Out-of-Pocket Maximum: The maximum amount the insured pays annually before the insurer covers 100% of costs.
Pre-existing Condition: A health condition that existed before the insurance policy began.
Network Provider: Healthcare providers contracted with an insurer to offer services at reduced rates.
What is Annuity?
An annuity is a financial product that provides a series of payments to an individual at regular intervals, typically used as a retirement income strategy. Annuities are commonly offered by insurance companies and can be customized to suit the financial goals and needs of the individual purchasing them.
Key Features of Annuities
Payment Frequency: Payments can be made monthly, quarterly, annually, or in a lump sum.
Duration of Payments: Payments can be for a fixed period or for the lifetime of the annuitant.
Tax-Deferred Growth: Contributions to annuities grow tax-deferred, meaning taxes are paid upon withdrawal.
Customization: Annuities can include features like inflation protection or guaranteed minimum returns.
Types of Annuities
Fixed Annuities: Provide guaranteed payouts. Interest rates are fixed and stable. Low-risk and suitable for conservative investors.
Variable Annuities: Payments depend on the performance of investment options like mutual funds. Higher potential returns but involve more risk. We don't do this yet.
Immediate Annuities: Payments start immediately after a lump-sum purchase. Often used by retirees seeking steady income.
Deferred Annuities: Payments begin at a future date. Offers more time for investment growth.
Indexed Annuities: Returns are tied to a specific stock market index. Combines features of fixed and variable annuities.
Key Terms Related to Annuities
Annuitant: The person who receives the annuity payments.
Premium: The amount paid to purchase the annuity.
Surrender Period: The time frame during which withdrawal penalties may apply.
Rider: Optional add-ons to an annuity, like death benefits or long-term care coverage.
Benefits of Annuities
Guaranteed Income: Annuities provide financial security with predictable income.
Tax Benefits: Contributions grow tax-deferred, reducing immediate tax liability.
Risk Management: Fixed annuities protect against market volatility.
Customizable Payouts: Options for lifetime or period-specific payments.
Drawbacks of Annuities
High Fees: Administrative and management costs can reduce returns.
Limited Liquidity: Withdrawals before maturity often incur penalties.
Complexity: Understanding terms and conditions can be challenging.
Inflation Risk: Fixed annuities may lose value over time due to inflation.
Related Financial Topics
Retirement Planning: Annuities are a key component of retirement income. Complement other retirement accounts like 401(k)s or IRAs.
Life Insurance: Many insurance companies bundle life insurance with annuities.
Pensions: Similar to annuities, pensions provide guaranteed income during retirement.
Tax Implications: Withdrawals from annuities are taxed as ordinary income. Early withdrawals may incur additional penalties.
Wealth Management: Financial advisors often include annuities in diversified retirement strategies.
Qualified and Non-Qualified refer to different types of retirement plans and investment accounts, each with specific tax advantages and regulations. Here's where they apply:
What is Qualified Plans:
These are retirement plans that meet the requirements set by the IRS for favorable tax treatment. Contributions to qualified plans are often tax-deferred, meaning you don’t pay taxes on the money until you withdraw it in retirement.
Where They Apply (Qualified Plans)
1. 403(b) Plans: Common in public schools and non-profits, allowing employees to defer a portion of their salary for retirement.
2. 401(k) Plans: Typically used by private-sector employers, offering employees the ability to contribute pre-tax income to their retirement savings.
3. Pension Plans: Employer-sponsored retirement plans that guarantee a fixed monthly benefit in retirement.
Key Features of Qualified Plans:
⏩ Tax-Deferred Contributions: Contributions reduce taxable income in the year they are made.
⏩ IRS Oversight: Must follow strict IRS rules for eligibility, contributions, and distributions.
⏩ Employer Matching: Employers can match employee contributions (e.g., 401(k) matches).
⏩ Required Minimum Distributions (RMDs): Must begin by age 73.
Non-Qualified Plans:
These plans do not meet IRS requirements for tax-advantaged treatment and are usually offered as additional retirement savings options. Contributions are made with after-tax dollars, and the tax advantages are limited.
Where They Apply (Non-Qualified)
1. 457(b) Plans: Offered by state and local governments, often used by public school employees.
2. Deferred Compensation Plans: Employers may provide these plans for executives or high-earning employees to defer a portion of their income.
3. Supplemental Executive Retirement Plans (SERPs): Employer-sponsored retirement plans designed for executives, offering additional retirement benefits beyond standard qualified plans.
Key Features of Non-Qualified Plans:
⏩ No Tax-Deferred Benefits: Contributions are made with after-tax income, and tax benefits are more limited.
⏩ Flexibility: Non-qualified plans are often more flexible than qualified plans in terms of contribution amounts and eligibility.
⏩ Employer-Specific: Often used to attract or retain high-level employees or executives.
⏩ No IRS Oversight: Not subject to the same regulations as qualified plans.
Qualified Plans (like 403(b) are typically available to most employees, including teachers, staff, and administrators, offering tax-deferred savings for retirement.
Non-Qualified Plans are less common in schools but might apply in special cases, such as supplemental retirement benefits for administrators or highly paid employees.
1. Tax-Advantaged Accounts:
Accounts designed to provide tax benefits for Saving or Investing
1.1 Retirement Accounts:
Traditional IRA: Contributions are tax-deductible (subject to income limits). Withdrawals in retirement are taxed as ordinary income.
Roth IRA: Contributions are made with after-tax income. Withdrawals in retirement are tax-free.
401(k) employer-sponsored retirement account: Contributions are pre-tax; withdrawals in retirement are taxed.
Roth 401(k) employer-sponsored plan with after-tax contributions. Withdrawals in retirement are tax-free.
SEP IRA (Simplified Employee Pension): Designed for self-employed individuals and small business owners. Contributions are tax-deductible, and withdrawals are taxed.
SIMPLE IRA (Savings Incentive Match Plan: For Employees) for small businesses with fewer than 100 employees. Contributions are pre-tax, and withdrawals are taxed.
Inherited IRA: An inherited IRA is a retirement account received by a beneficiary after the original owner's death. It retains its status as a retirement account but has special rules, like requiring beneficiaries to withdraw the funds within 10 years (for most non-spouses). Taxes apply based on the account type: traditional (taxable) or Roth (tax-free under certain conditions).
1.2 Education Savings Accounts (We don't do this yet)
529 PlanTax-advantaged savings for qualified education expenses. Earnings grow tax-free, and withdrawals for education are tax-free.
Coverdell Education Savings Account (ESA): Similar to a 529 Plan but with contribution limits and more flexibility in usage.
2. Taxable Investment Accounts:
Brokerage Account: No tax benefits. Dividends, interest, and realized capital gains are taxed in the year they are earned.
Mutual Fund Account: A pooled investment account; earnings are taxed annually.
3. Tax-Deferred Accounts:
Accounts where taxes are deferred until withdrawals:
Annuities: Investments grow tax-deferred, and withdrawals are taxed as income.
4. Tax-Free Account:
Accounts with tax-free benefits under certain conditions:
Municipal Bonds (held in a taxable account). Interest earned is generally tax-free at the federal level and sometimes at the state/local level.
Commercial Cleaning Services
2. First Service Janitorial LLC
A professional cleaning company delivering high-quality janitorial services to commercial clients. Focused on maintaining pristine environments through routine maintenance, deep cleaning, and specialized services.
Partnership with Bay Area Janitorial Force:
Collaboration to extend reach and deliver superior cleaning solutions across the Bay Area. Known for attention to detail, eco-friendly practices, and a commitment to client satisfaction.
3. Bay Area Janitorial Force
Client-Centric Approach: Deliver personalized solutions to drive success across financial and cleaning service sectors.
Integrity & Excellence: Maintain the highest standards and ethical practices in all operations.
Collaboration & Innovation: Foster strong partnerships and continually innovate to meet client needs effectively.
Team Alignment
Our financial services and commercial cleaning teams are integral to achieving our company mission. Use this overview to align departmental efforts and uphold the consistency and quality our clients expect.
CLEANING COMPANY TOOLS
Stages
For internal use only – not for external distribution and solely for Cahill Investments Inc.
STILL NOT SURE?
Frequently Asked Questions
Not sure
Question 1: Should I turn on my VPN each time we open Midland, National Life Group, and Advisors Excel?
Only if accessing outside US otherwise coz it tracks our IP Address.
Question 2: Which website to process the SRA and third-party approval, such as New or Exchange?
Visit 403bcompare.com and watch how to do them using the video tutorial above.
Question 3: Does Midland, National Life Group and Advisors Excel (Surance Bay) follow the same time zone?
No. Midland follows EST which is 2 hours difference from PST for National Life Group and Advisors Excel.
Question 4: How many applications are we submitting daily?
Maximum applications can vary once all data information are available (max 1-2)
Meet the Team of Professionals
Ryan Cahill
Agency Owner
Rebecca Palma
Managing Director
Karen Mahinay
Quality Insurance Specialists
Jeff Rusin
Marketing & Technical Manager
Apple Red Rose
Leads Specialists
Edesa Abecia
Project Manager
Address: 123 E San Carlos St. #1008 San Jose, CA 95112
Phone: (650) 844-0656
Ryan's Email: [email protected]