Skip to main content

HANYS Benefit Services Creates Satellite Office in New York City Area

To meet the growing need in the New York City area, HANYS Benefit Services (HBS), an industry leader with more than 45 years of providing trusted advisory services, retirement plan offerings, and best-in-class employee benefits products, recently expanded operations to a new location in Melville, New York.






HBS hired a new team of executives, led by Peter Margiotta, Vice President, Client Relationship Development, to deepen access to senior executives for New York City area clients.



“We are very excited to have Peter on board, leading the charge to strengthen our downstate presence,” said James Kelley, HBS President. “HBS strives to build real relationships with our clients, creating a shared fiduciary responsibility with the companies we advise. Having a full team based in Melville will allow us to better serve our New York City clients in this capacity.”



Peter Margiotta has more than 25 years of experience in the retirement benefit planning industry, specializing in retirement plans for healthcare and not-for-profit organizations. Before joining HBS, he held positions including National Sales Director at Great-West, where he was responsible for the marketing of products and overseeing the transition and integration of new clients. He began his career with Mutual of New York/Diversified Investment Advisors, where his responsibilities included client servicing and marketing. He is responsible for enhancing the client relationship experience, retirement plan consulting, and new business development for the New York City area.



HBS, originally formed to support healthcare employers in New York in the delivery of superlative employee benefit programs, is now an industry leader in employee benefits and retirement plan consulting. HBS delivers tangible business results to human resource leaders, enabling them to enhance their plan offerings while remaining competitive and reducing overall plan costs.



HBS is headquartered near Albany, with offices in Cranford, New Jersey, Rochester, Tonawanda, and now Melville, New York.

Popular posts from this blog

What are Alternative Investments? 4-Part Introduction

The market has seen a lot of uncertainty in recent years. Because of this, many organizations are looking for new ways to diversify their investment portfolios. Our best-kept “not-so-secret” secret: alternative investments. In this blog, we'll explore alternative investments with a focus on how they can potentially shield your portfolios from downside market volatility. In addition, we'll break down its benefits and risks and whether it could be a good fit for you. Part 1: What are alternative investments? Alternative investments may help diversify your investment portfolios through non-traditional investment strategies. Non-traditional investment options have varying liquidity ranges depending on the strategy and fund structure. Alternative investments are sometimes referred to as alternative assets. According to the Harvard Business School , the seven types of alternative investments are: private equity; private debt; hedge funds; real estate; commodities; collectibles; and s

Section 125 – Cafeteria Plans Overview

A Section 125 plan, or cafeteria plan , allows employees to pay for certain benefits on a pre-tax basis. Employers use these plans to provide their employees with a choice between cash and certain qualified benefits without adverse tax consequences. Paying for benefits on a pre-tax basis reduces the employee’s taxable income and, therefore, reduces both the employee’s and the employer’s tax liability. To receive these tax advantages, a cafeteria plan must comply with the rules of Section 125 of the Internal Revenue Code and related IRS regulations. Under these rules, a Section 125 plan must have a written plan document and can only offer certain qualified benefits on a tax-favored basis. Once an employee makes a Section 125 plan election, they may not change that election until the next plan year, unless the employee experiences a permitted election change event. Also, for highly compensated employees to receive the tax advantages associated with a Section 125 plan, the plan must pass

Employee benefits strategies: 5 budget-friendly ideas

Retirement and employee benefits help create a solid foundation for recruitment and retention. They’re also pivotal in enhancing job satisfaction, boosting productivity, encouraging employee well-being and increasing workplace morale. With the work landscape evolving rapidly, organizations are revisiting their offerings to develop stronger employee benefits strategies.  The first area most small- and mid-size employers investigate is quick, short-term ways to foster company culture. In this blog, we’ll cover budget-friendly ideas to improve your employee benefits initiatives. Think of them as smaller action items that can help you gain a competitive edge. Then, we’ll take a closer look at how customizing your benefits plan can support your new efforts.  1. Promote a healthy work culture  Investing in employee benefit plans is not just about fulfilling a checklist. It's about creating an environment where employees feel supported in both their professional and personal lives. Benefi