Every company is unique and so is every retirement plan. Creating a plan to meet the needs of your company and your employees is the basis for effective plan design.
A well-designed plan addresses key issues for business owners such as maximizing tax-deferred contributions, selecting the appropriate type of plan, and ensuring employee costs remain reasonable.
Working with your record keeper and/or TPA, we will help determine if changes to the overall plan design need to be made to ensure your plan passes the annual non-discrimination testing. And finally, our knowledge of participant behavior can help us create effective solutions that can increase participation.
With every plan, we will provide the following step-by-step plan design process:
- Discovery - What plan features are working, what features are not?
- Options - What options are available to meet your plan goals?
- Design - Working with your record keeper to design a plan
- Monitor - As your company changes, your plan should change with it.