The 401(k) Solution For Your Business

Over the past couple of years, the retirement plan industry has made significant strides that have improved plan offerings for small and mid-sized businesses. Our goal is to make businesses aware of these changes and how the new offerings might benefit their organizations. We enjoy developing relationships with business owners and employees while creating a customized retirement plan that encourages participation.

Even with prior retirement plan experience, updating an existing plan or implementing a new 401(k) plan may seem overwhelming. As fiduciaries, we help alleviate the stresses that keep many businesses from updating potentially outdated plans. We are eager to make managing your 401(k) plan easier, so you can focus on running your business.

How conventional wisdom can lead you astray when selecting 401(k) plan providers.

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ERISA & Fiduciary Responsibility

In today’s regulatory environment, managing fiduciary responsibility is no easy task. In fact, a fiduciary’s responsibilities under the rules of ERISA are recognized as the highest known to the law. As a plan sponsor, how will you demonstrate that you have fulfilled your legal obligation? Most plan sponsors feel overwhelmed in trying to manage their fiduciary obligations.

ERISA’s “prudent-person rule” states that a plan sponsor who is not qualified to make educated investment decisions must seek the assistance of an expert.

Our team can provide you with the resources to help you understand and manage your fiduciary responsibilities, and ultimately demonstrate that you followed a prudent process in fulfilling them.

We can:

  • Educate you on your fiduciary responsibilities

  • Keep you informed of industry trends and other developments, as well as the potential impact to your plan

Establishing & Implementing Plans

With a multitude of providers willing to administer your plan, having an experienced team of financial advisors can help objectively guide you through an otherwise time-consuming and confusing selection process. 

 Our team of advisors will evaluate your situation and help guide you in:

  • Seeking out and evaluating proposals

  • Understanding fees and expenses through review of current plan fee disclosures (408(b)(2))

  • Evaluating and selecting a menu of investment options

  • Monitoring investment performance

Improving Plan Participation

Participation rates continue to be a key measure of a plan’s success. Our advisors deliver a succinct participant education program to help encourage participation and higher deferral rates.  We will also educate plan sponsors on the various plan-design features available to improve these rates, such as automatic enrollment and automatic escalation.

Our team will also help by:

  • Stressing the importance of systematic saving

  • Conducting enrollment meetings

  • Providing fund overviews

  • Answering participant questions

Ongoing Plan Management

For many plan sponsors, adequately monitoring and maintaining a company 401(k) may prove to be a difficult and tedious task. Keeping the plan up to date, ensuring fees remain competitive, and tracking plan performance are important housekeeping items for a strong 401(k). Between the complexities of plan regulation and the ever-evolving 401(k) landscape, ensuring that your plan is compliant and operating in a way that best benefits you and your employees is a task best suited for a team of financial advisors.

We would love to have the opportunity to get to know you and your business. By evaluating your current plan and identifying areas for improvement, we can propose adjustments and updates that we believe are in your company’s best interests.

Contact Us Below Regarding Our 401(k) Plan Services

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