SETTING UP A 401(k) plan and WHAT TO EXPECT 

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

 
initial conversation

We start by understanding your retirement plan objectives and creating a custom plan design analysis that aligns with your business goals.

 

  • Discuss business goals for establishing retirement plan

  • Partner with retirement plan advisor 

  • Select a recordkeeper

  • 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 timeline for setting up plan and answer any questions.  

 

For new plans, the process takes 4-6 weeks from initial conversation to having a fully setup and operational retirement plan.    

On-going Experience

From an on-going experience, there are annual requirements that Premier Plan Consultants and your retirement plan advisor will provide support.  Each year PPC will: 

  • Partner with you to offer a powerful company benefit

  • Be a resource for your questions

  • Review and monitor your retirement plan to ensure it is meeting employer needs as best as possible 

  • Discuss your current plan design

  • Recommend updates and changes as company goals and/or demographics change 

  • Complete compliance testing requirements

  • Review trust asset to ensure all assets are acounted for and in the correct accounts

  • File the required Form 5500​

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.

(858) 257 - 3555

tom burns 

san diego

TPA

Third party administrator 

pension

401k

401(k)

retirement plan

retirement planning

form 5500

administration