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Plan Design and Compliance

It is critical that plan design, compliance and legal elements of a retirement plan are up to date since, as a plan fiduciary, you could be peronally liable if your retirement plan does not meet strict compliance guidelines. Frequent retirement plan reviews are necessary due to ongoing legislation by Congress in recent years.

Some of the recent changes in legislation are designed to increase employee participation and reinstate some of the benefits removed by other laws. Your retirement plan design can be tailored to meet your specific needs - whether yours is a firm of one or a thousand employees, we will work with you to find the most affordable and appropriate for you business. For example, your plan can include an executive compensation program, designed to (target) benefits towards your key executives to allow them to help maximize their retirment savings and manage their tax obligations, while still providing your entire staff with competitive benefits.

As we perform an in-depth review of your retirement plan for plan design suitability, we concentrate on:

  • Employee deferral limits and tax credit incentives
  • Employer plan contribution limits
  • Loan Incidents and plan participation
  • Access for key personnel to on online portal to access plan and participant data
  • Web access for participant account balance inquiry and changes
  • Tiered and age-weighted discretionary contribution formulas
  • Paperless enrollment
  • Automatic enrollment
  • Electronic payroll, loan and distribution transactions
  • Controlled group plan set-up and design alternatives
  • Frequency and content of employee education and communications

We provide ongoing review and monitoring of your plan, updating design and operational features as necessary.