The Central New York Agency has 125 years of experience and stability that is on your side…
We hold a strong belief that doing business the right way leads to long-lasting
relationships with the communities we serve.
Utilization of The Central New York Agency During
The Central New York Agency, LLC can be a valuable asset to the negotiations process. Our concise understanding of the negotiations
process along with our long history of experience can provide your negotiators and negotiating teams with a high level of expertise.
Our team will provide a comprehensive review, determine key areas of concern, and provide innovative ideas and enhancement
- WHAT OUR ROLE IS
- The Central New York Agency, LLC will work with you and your negotiator to provide a comprehensive review of your current contracted benefits being offered. Provide your members with ideas to help reduce cost of current benefits without reducing the benefits themselves. We will also provide creative ideas to enhance your current benefits being offered.
- If the negotiator and negotiating team are having trouble with the district providing an acceptable percentage of increase in salary for your unit The Central New York Agency will be able to offer innovative ideas in the form of additional benefits to help re-coop the decreased percentage of income.
Example: Your bargaining unit is looking for an increase of 4% in salary but the district is not in favor of that type of increase and counters with a 2 –2.5% increase instead. Our team will show you creative ways to go back to the district in the form of benefit enhancements to regain the 1- 1.5% loss in compensation.
- We will review your current contract regarding your non-elective 403B provisions and make sure the language in the contract allows your members to rollover the money as opposed to taking a distribution upon retirement. This will provide members with options to help differ taxes on this money.
- It is not advisable for retiring members to take a Non-Elective disbursement directly in a lump sum in the last year of their highest earnings. The taxable event on this money is going to cost the member over 40% in taxes. Our team will provide choices to differ this taxable event for future years.
- Since the retirement pension options are unique all members will be faced with difficult and confusing decisions upon retirement.
- All members will have a choice to make at retirement regarding their pension and their spouse. What we find is that 75 percent of members will take the zero option and leave nothing to their spouse. You might think well what does my spouse get. These members self fund their retirement and purchase additional life insurance to provide a tax-free benefit to their spouse or even family members. By doing this it creates a tax-free income stream in the event of a death.
- We can provide options on an individual and group basis with favorable underwriting that can be structured for the district to offset the cost and be fully paid for when you retire.
The Central New York Agency understands that our expertise is only beneficial to the negotiators and negotiating teams that use it. We encourage everyone who has an up-coming contract negotiation to contact us at 1-877-251-2540 to utilize our creative knowledge and relationships with many service providers within the industry. We look forward to having the opportunity to work with all of you.