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401(k) & Retirement Plan Design

Designing qualified business retirement plans that fit your goals

When it comes to qualified retirement plans and 401(k) plans, it is important to understand your business goals before designing the plans. For some business owners, the goal may be to maximize contributions to key employees. Others may wish to provide a greater benefit to their older employees.

Whatever your goals, our retirement planning consultants have the experience and expertise to help you design a retirement plan or a series of complementary plans that can play an important role in your overall strategy for attracting and retaining the most talented people, as well as planning for your own retirement and maximizing your tax benefits.

If you already have retirement plans in place, we can take a critical look to see if those plans are helping you meet your goals.

The benefits of taking a new look at your retirement plans

A physician approaching retirement was interested in putting as much as he could into a retirement plan. However, under the traditional plan he had selected, all participants received the same percentage of compensation as a profit-sharing contribution. Using that method his contribution was just over 71 percent. By adopting a new comparability-allocation method, the physician was able to increase his percentage of contribution to 92 percent.

For existing retirement plan services that you want to change, we can help with plan design, document restatement, and plan amendments. For new plans we will prepare the appropriate documentation.

Ensure your retirement plan administration satisfies IRS and DOL rules

Our CPAs, attorneys, and retirement planning consultants can help you design creative plans that will maximize the benefits for owners, executives, or select employee groups and/or contain costs related to retirement plan services for other employees. Examples of the types of plans we work with are 403(b) plans, 457(b) plans, SIMPLE plans and SEP plans. No matter which retirement plan your organization uses, we will ensure that it complies with the numerous requirements outlined by the Internal Revenue Code and/or ERISA.

We will put the retirement plans through a series of tests to ensure that elements like employer’s matching, coverage, non-discrimination, and salary deferral satisfy the rules of the Internal Revenue Service and the Department of Labor. We will also make sure the retirement plan adheres to annual deferral and addition limitations, as well as contribution deduction limitations.

You can depend on us to supply you with the mandated employee communications about the retirement plan services and a process for plan contribution allocation.

We understand how important finding the right qualified retirement plan is to your future. When you bring us your retirement wishes, our retirement planning consultant will help you find the right retirement plan to reach your goals.