We have partnered with various entities to provide employers and their employees with retirement plans that are cost effective, transparent, flexible, and user friendly. Our goal is to create an environment that will encourage employees to make wise and informed decisions.
The Employee Retirement Income Security Act (ERISA) reminds us that the purpose of a 401(k) and other retirement plans is to provide a secure retirement income. For this reason we recommend investment options that take into account the investment risks that affect retirement income.
Complicated Rules & Regulations
As advisors offering 401(k) plans, we are experienced with and educated about the numerous and complex rules, regulations, and tax-qualification requirements governing these plans.
Many 401(k) plans are offered as a bundled package that includes the plan administrator, record keeper, custodian, and investment manager. This structure can be complex, inefficient, and costly. The solution is a coordinated unbundled package that provides transparency and flexibility.
We work with employers, third party administrators, record keepers and the other involved entities to design plans that are appropriate for each firm and its employees. Because each firm is different there are different options for, among other things, eligibility, contributions, vesting, distributions and loans.
Health Savings Accounts
For firms and their employees who are eligible for health savings accounts, it is an option that should be considered. Even though the funds can be used for current medical expenses, the real value of a health savings account is as a tax-efficient savings account for retirement medical expenses.