
TRADITIONAL 401(k) plan
A 401(k) is a type of workplace savings plan that allows employers and eligible employees to save and invest for retirement through payroll deductions. Setting up and sponsoring a retirement plan is a valuable employee benefit and one that can be used to recruit, retain and reward your employees.

It is also a powerful savings plan for employers to optimize tax strategies, while saving for their own retirement future.
A well-designed 401(k) can help to:

Attract, Reward and Retain Top Talent

Help Save For Your Own Retirement

Reduce Your
Corporate Taxes
Setting up a plan and what to expect
TAX CREDIT FOR
3 YEARS

We start with a conversation to understand your ideal retirement plan and then, we work to create a custom plan design analysis that aligns with your business goals.
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Discuss business goals for establishing retirement plan
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Partner with retirement plan advisor
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Select a recordkeeper
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Sign setup documents
– Plan document
– Service Agreements
– Recordkeeper documents
After the initial setup documents are complete, we host an onboarding conference call to clearly identify a timeline for setting up your plan and to answer any questions.
For new plans, the process takes 4-6 weeks from the initial conversation to having a fully setup and operational retirement plan.

For your on-going experience, Premier Plan Consultants will provide consistent support and assist in completing annual requirements:
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Partner with you to offer a powerful company benefit
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Be a reliable resource for your questions
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Review and monitor your retirement plan to ensure it is meeting your needs as best as possible
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Discuss your current plan design
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Recommend updates and changes as company goals and/or demographics change
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Review trust assets to ensure all assets are accounted for and in the correct accounts
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File the required Form 5500​
On-going Experience
Today, businesses of any size can easily establish a 401(k) plan that is reasonably priced, simple to implement and requires little time to administer. Offering a 401(k) plan not only helps your employees, but also helps your firm be more competitive in the marketplace.