History

In early 2002, insurance industry veteran Raymond Ankner saw that the successful small business community was under-served by the retirement planning community, because the plan design documents needed were cumbersome, time consuming and expensive for Plan Administrators to produce. He recognized the need for a program that would systematize the pension logic and financial product features to radically increase the speed and ease of presentation production. Ankner sought the means to build such a program and through an existing relationship with an established technology team, a specification and project plan was produced. During the process it became clear that the traditional financial and insurance industry method of providing software and updates via CD had limited ability to meet the needs of the situation. The decision was made to develop a web based application that would allow for the flexibility, agent visibility, and rapid production curves that were required. The next six-months saw a proof-of-concept and subsequent first release in a project for Travelers.

PlanGen was founded in 2003 to produce on-demand presentations of Fully Insured Defined Benefit Plan platforms for major insurance carriers and has continued to produce custom plan and product engines for financial institutions and their most successful agencies. The original Fully Insured Plans known as 412(i) lead to the production of Traditional Defined Benefit Plans as well. With the Pension Protection Act of 2006, 412(i) became 412(e)(3) and the traditional system went through a major overhaul to comply with new IRS Code. Several types of custom life benefit programs followed, as did the development of a suite of Defined Contribution Plan design tools. Leveraging the web based nature of the system, and the advisor-focused database structure, PlanGen flipped back-end user identities forward to provide public facing resources such as web identity hub pages, client data collection forms that directly fed into plan design process, and custom campaign landing pages for use in digital media marketing.

In the time span since PlanGen first began providing plans to the marketplace, we have seen numerous small businesses happily grow from plan funding into secure retirements. PlanGen's history has been about helping successful small business owners build a prosperous future.

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We know that designing the right retirement plan for your business scenario cannot be based on cookie-cutter mentality and so we review your operations and your aspirations before crafting the best solution.

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