401(k) Plan Administration

Proper administration is crucial for a 401(k) plan's compliance and performance, whether you're establishing a new plan or managing an existing one.

For Businesses with Existing 401(k) Plans: We collaborate with you, your payroll provider, and HR support team to:

  • Ensure your plan effectively serves your business

  • Meet all fiduciary responsibilities to plan participants

  • Review and optimize plan costs

  • Evaluate and enhance investment options

  • Review your roster of participants to help roll terminated employees roll out of the plan

For Businesses Starting a New Plan our process includes:

  • Gathering your business census data

  • Reviewing your objectives as a business owner

  • Developing tailored recommendations

  • Presenting options for the current or upcoming plan year

  • Conducting annual reviews to ensure ongoing plan appropriateness

Our team is committed to optimizing your 401(k) plan to benefit your business and its participants, providing ongoing support and expertise.

FAQs

  • The type of 401(k) plan that's best for you depends on your tax rate, age, risk tolerance, and how much you'll need to retire. Traditional 401(k)s allow you to make pre-tax contributions, but you'll pay income tax on the distributions in retirement. Roth 401(k)s are funded with after-tax money, so you won't have to pay taxes on any contributions and earnings that come out of the account at retirement. If you think your tax rate will be lower when you begin taking withdrawals in retirement, traditional contributions may make sense. If your tax rate will be about the same (or higher), Roth contributions might be preferable.

  • According to the Department of Labor (DOL): A plan's fiduciaries will ordinarily include the trustee, investment advisers, all individuals exercising discretion in the administration of the plan, all members of a plan's administrative committee (if it has such a committee), and those who select committee officials.