For 401(k) Plan Sponsors

The Plan Sponsor is required to administer their plans for the “sole benefit” of workers. A good 401(k) plan attracts top talent, builds high performance teams, and increases employee retention. Your company’s 401(k) Plan may be your employees’ most important source of retirement income, a first-rate plan is critical to employee financial well-being.

When you are creating a 401(k) plan you should consider many different aspects including the access to institutionally priced investments and advice, employee eligibility for participation, compensation, employer and employee contributions, vesting , and distributions and loans.

401(k) plans are not set and forget, they need to be maintained and updated to keep in compliance with complex and ever-changing regulations, maintain proper documentation and prudent processes, benchmarking, plan restatement, and complying with require plan audits.