Retirement plan services
Federal tax policy grants strong incentives to establish and support state-of-the-art corporate sponsored retirement plans. In addition to reducing turnover and retaining your best employees, I believe that 401(k) and 403(b) accounts are the single best way to build retirement wealth. These plans contain features that are superior to other vehicles, such as higher maximum contribution levels, corporate matching, creditor protection, and personal loans.
I work closely with plan sponsors and strategic vendors to design thoughtfully structured retirement benefit plans for your small business and help you minimize fiduciary risk. Together, we take into consideration the objectives of the company – employee retention, personal retirement wealth creation, profit sharing methodologies – in selecting from the myriad of choices available in a state-of-the-art 401(k) plan. Once designed, I formalize a process to review, implement changes and monitor performance. I personally educate and support participants on how to make more intelligent investment decisions.
As a follow-on service, I provide employers with an opportunity to implement a financial wellness program for their employees. A white paper authored by the Center for Financial Services Innovation found that 85% of Americans are anxious about their financial lives and 33% reported these issues have been distracting at work. The study also found that workers with high financial stress are 2x more likely to use sick time when not ill. Therefore, I believe employees need rudimentary advice on financial basics – such as how to create a budget, creating a Health Savings Account (HSA), anticipating all the costs of home ownership.
Plan sponsors should know that an established process is an essential ingredient to managing a retirement plan for their employees.
I focus on 4 key areas of plan operations; these steps are recognized as being a gold standard for fiduciary compliance.