Upgrading to a different retirement plan can be overwhelming. Luckily, our team is here to help guide you through the process seamlessly.
Over time, a company’s business goals change. Reviewing your plan design, recordkeeper, investments, and service providers helps to ensure the retirement benefits you have set up continue to meet those goals. While transitioning a plan can be a complex process, the effort is always worth it. The right plan can ensure your retirement benefits meet your company’s objectives and provide your employees with valuable retirement benefits.
Whether your company is seeking a consultation or a full transition, we are your strategic partner here to support you every step of the way.
Transitioning a 401(k) plan provides an opportunity for a company to recruit, retain, and reward employees. To achieve these objectives, a company can focus on offering a plan with competitive features such as low fees, diverse investment options, and valuable retirement benefits. When communicating the new plan to employees, the company should highlight its benefits and educate employees on how they can maximize their retirement savings. This can include providing financial education resources, personalized investment advice, and retirement planning tools.
It is important for a company to align its business goals with the plan design to ensure that the plan is effective in achieving its intended purpose. To do this, the company should start by determining its objectives and how the 401(k) plan can support them. By aligning the plan design with the company’s business goals, a company can ensure that its 401(k) plan is effective in supporting its objectives and providing valuable benefits to employees.
Implementing a retirement plan that is best for your company requires thorough research and careful planning. Begin by determining the company’s retirement plan needs and researching various plan options. Evaluate potential providers and choose a plan design that best meets your company’s needs. It’s important to communicate the plan to employees and provide education on its benefits and how to use it.
We begin client engagements with a conversation! It starts by defining your retirement plan objectives and conducting a comprehensive review of all plan design provisions. Then, we present a custom plan design analysis to make sure your company’s new retirement plan is aligned in the best possible way to meet your company’s goals.
For your custom plan design analysis we will need copies of:
Once the documents are reviewed and found in good order, we will electronically restate and provide all clients with a secure, paperless copy. Then, we host an on-boarding conference call to clearly identify a timeline for transitioning the plan and to answer any questions.
For your on-going experience, we will provide support and complete the following annual requirements:
Get started today.
