Workplace Retirement and 401(k) Strategy

The short version

A company retirement plan does two jobs at once: it is a benefit your employees rely on, and it is a legal obligation you carry as a fiduciary. It is also, for many owners, the most under-used tax planning tool on the balance sheet. We work on plan design, fiduciary process, and the coordination between the company plan and the owner's own financial picture.

This is for you if

You are an owner, executive, or committee member responsible for a retirement plan
You are not confident the plan's fees have ever been benchmarked
Highly compensated employees are constrained by testing, or you are personally capped well below what you would like to save
The plan was set up years ago and nobody has revisited the design since

What we handle

Plan design. Safe harbor versus traditional structures, matching formulas, eligibility and vesting schedules, automatic enrollment and escalation — and what each choice does to both participation and the owner's own contribution capacity.

Cash balance and profit sharing overlays. Where the goal is a materially larger deductible contribution for owners and senior partners, a cash balance plan layered over a 401(k) can change the numbers substantially. It also introduces funding obligations that need to be understood before adopting one.

After-tax contributions and in-plan conversions. The mechanics behind so-called mega-backdoor Roth contributions depend entirely on whether the plan permits after-tax contributions and either in-plan conversion or in-service distribution. Many plans could allow it and simply do not.

Fiduciary process. An investment policy statement, a documented committee process, meeting minutes, and periodic review. Fiduciary liability under ERISA attaches to process, and process is what gets examined.

Fee benchmarking. Recordkeeping, administration, advisory, and investment expenses, compared against relevant benchmarks. Fees paid from plan assets are a fiduciary matter, not just a budget matter.

3(21) versus 3(38) advisory roles. Understanding the difference between an adviser who recommends and one who takes discretion, and which is appropriate for your committee.

Participant outcomes. Enrollment, deferral rates, and education. A plan with excellent investments and a 30% participation rate is not working.

How the work runs

Review. Plan document, summary plan description, most recent Form 5500, fee disclosures, testing results, and the current investment lineup.
Benchmark. Fees, design, and outcomes against comparable plans.
Recommend. Usually a short list of consequential changes rather than a wholesale redesign.
Govern. Ongoing committee support, documentation, and review.

Questions we hear most often

We already have a plan provider. What's different about an adviser?

A recordkeeper administers the plan. An adviser works on design, investment selection, fiduciary process, and outcomes. They are different roles and most plans have both.

Can I contribute more than the standard limit?

Possibly, depending on plan design. Profit sharing, after-tax contributions, and cash balance overlays each raise the ceiling in different ways, subject to testing and the annual additions limit.

What is my actual fiduciary exposure?

That is a legal question for counsel. What we can say is that fiduciary obligations under ERISA attach heavily to process and documentation, which is where most plans are weakest.

Do you coordinate the plan with my personal financial picture?

Yes, and for owners this is usually where the largest opportunity sits. The company plan and the owner's own plan are typically designed as if the other did not exist.

How disruptive is changing plan design?

Less than most owners expect, though it depends on the change. The first step is a review, not a recommendation.

Educational content only. This is not tax, legal, or accounting advice. Plan design and fiduciary obligations depend on your specific plan documents and circumstances.