Plan Design & Implementation

We know how overwhelming designing and implementing a retirement plan can be and we work with Plan Sponsors to identify and meet their needs, whether it’s a simple 401(k), a more complicated Profit Sharing arrangement, a combo 401(k) and Cash Balance design, or a Solo Defined Benefit Plan.

Our Consultants work with plan sponsors and their advisors in the Plan Design phase to identify:

  • Retirement Plan objectives
  • Most suitable plan types(s)
  • Effective plan features
  • Optimal recordkeeping and investment platforms

We prepare illustrations of plan feasibility, costs, and designs based on those discussions. We then make further recommendations for plan options and features that are best suited for each client’s needs (e.g., eligibility and vesting provisions, employer contribution types and allocation options, Roth deferrals, participant loans, etc.).

Effective plan design can:

  • Maximize tax deductions for the employer
  • Maximize tax deferred savings opportunities for employees
  • Minimize costs for establishing and maintaining the plan
  • Provide for attraction and retention of valuable employees

Preparation of the Plan Document is a critical component of establishing a qualified retirement plan and serves as the foundation for the plan’s day-to-day operations. We will prepare a new or restated plan and trust document for signature by the plan sponsor and trustee on one of our Pre-Approved Plan documents, which are pre-approved for our clients by the IRS.

If you already have a Plan, we will review the plan document with you, make recommendations for improvement and ensure that your Plan operations are properly reflected in the document itself. That’s what helps to ensure operational compliance and smooth internal processes. If you don’t understand how your plan is drafted, then mistakes will be sure to occur.

Our Plan Implementation services include working with you and your advisors to establish the seamless implementation of your Plan, including:

  • Assistance with Plan set-up on your existing or new investment platform
  • Coordination of Plan conversion with current and new providers
  • Procurement and review of historical records for smooth transition
  • Assurance that you are 100% satisfied before your Plan onboarding process is complete

Once our implementation process is completed, you will be introduced to your Administration & Compliance Team, who will be your front-line of communication for the next phase of our work.

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