Group Retirement Plans

We create and manage group retirement plans for small- and mid-sized businesses. Our solution-based approach starts by asking questions and evaluating your needs to build a scalable plan that can adjust to a growing workforce.

Our Process

Step 1

Business Review

We review your business makeup, study employee demographics, including the number of full-time employees, business structure, and your wishes for the retirement plan.

This allows us to identify the right retirement plan for your needs.

We also discuss features you may want to implement in a plan, including automatic enrollment and available investment options.

Step 2

Plan Type Selection

Depending on your business structure, there are likely several different plan options that will work. Some plan options include:

  • 401(k) – Best for larger businesses, a 401(k) is one of the most common retirement plans available due to the flexible nature of plan creation and investment options

  • 403(b) – Similar to the 401(k), the 403(b) is used by public schools and tax exempt organizations

  • SEP IRA – A SEP IRA is often used for closely held businesses with fewer employees, or by sole proprietorships. All employees must receive the same benefits under a SEP IRA.

  • SIMPLE IRA – Extremely easy to set up, a SIMPLE IRA is effective for smaller businesses with less than 100 employees

  • Individual 401(k) – This is a specialized 401(k) plan for self-employed individuals or sole proprietorships with no employees (spouses are excluded)

  • Cash Balance Plans – A pension plan with characteristics similar to a profit sharing plan, but with a higher contribution limit. These are best for closely held businesses with large cash flows and can be used to offset tax liability.

Step 3

Plan Creation Support

There are many rules and regulations in place to protect retirement plan participants, but with increased security also comes complexity.

We will assist with plan compliance, helping to ensure you meet ERISA guidelines.

Our plan creation support also includes plan benchmarking, investment selection, and Investment Policy Statement creation.

Step 4

Participant Education

A successful plan rollout and ongoing education helps employees better understand the retirement options available and encourages higher enrollment.

We will work one-on-one with your employees to select investments from plan options and can also offer advice on their individual financial needs.

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