Stan A. Kinoshita & Associates, Inc. is a leader in the Financial Services markets. Since 1966, the company has been offering Hawaii residents some of leading insurance and financial services products on the market. From Life Insurance to Retirement Plans, we are your financial services professionals! Stan A. Kinoshita, & Associates, Inc. is your one stop source for Personal and Commercial property and casualty insurance. From homes, to automobiles, to umbrella policies, and more, we are your mega insurance source!
Services
Stan A. Kinoshita & Associates, Inc. is a locally owned, independent insurance agency that has been serving the LIFE, PERSONAL & COMMERCIAL INSURANCE needs of Hawaii since 1966. Since the late 1960's, the company has also been specializing in setting up and administering tax-qualified RETIREMENT PLANS.
A defined benefit plan provides a predetermined, level of benefit payments for the life of the participant or the life of the participant and spouse. The monthly retirement benefit is calculated using a formula specified in the plan. The employer contribution is required annually and is typically higher than a defined contribution plan, depending on the employer's demographics. The employer bears the investment risk. Older employees tend to be favored because they have a shorter time to fund for their retirement.
Money Purchase Pension Plans: The employer contributes a specified fixed percentage of each participant's annual salary to the plan each year, to a maximum of 25% of compensation. Contributions to a Money Purchase Pension Plan are not based on employer profits, therefore contributions must be made regardless of whether the company is profitable.
Catch-up contribution amount under IRC §414(v)(2)(B)(i) for participants who are age 50 or older by the last day of the calendar year. This code section limits the allocation of contribution (salary deferral, match, employer contribution) to a participant to the lesser of 100% of compensation or this amount.
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