401(k) PLAN SERVICES FOR EMPLOYERS

 

Employee Benefits Start With A Solid 401(k) Strategy

 

Effective retirement plans are tremendous opportunities for business owners and employees. Integer Wealth educates, designs, implements and monitors 401(k) Plans for plan sponsors and employers.

 

Lower Fees Than Traditional 401(k) Plan Providers

 

Integer Wealth Advisors typically manages 401(k) plans for less - and the potential for savings is one reason to consider utilizing our plan services.

Please contact us to schedule a complimentary consultation to discuss our 401(k) Plan Services.

 

 

What is a 401(k)?

 

A 401(k) is a feature of a qualified profit-sharing plan that allows employees to contribute a portion of their wages to individual accounts.

 

What are fidicuiary responsibilities for a retirement plan?

 

In general terms, a fiduciary is a person who owes a duty of care and trust to another and must act primarily for the benefit of the other in a particular activity. For retirement plans, the law defines the actions that result in fiduciary duties and the extent of those duties.

 

Many of the actions needed to operate a qualified retirement plan involve fiduciary decisions - whether you hire someone to manage the plan for you or do the plan management yourself. Controlling the plan assets or using discretion in managing the plan makes you or the entity you hire a plan fiduciary to the extent of that discretion or control. Fiduciary status is based on the functions performed for the plan, not a title. Be aware that hiring someone to perform fiduciary functions is itself a fiduciary act.

 

Some plan decisions are business decisions, rather than fiduciary decisions. For instance, the decisions to establish a plan, include certain features, amend or terminate a plan are business decisions. When making these decisions , you are acting for your business, not the plan, and therefore, you wouldn’t be a fiduciary. However, when you take steps to implement these decisions, you (or those you hire) are acting for the plan as a fiduciary.

 

Basic responsibilities

Fiduciaries are in a position of trust with respect to the participants and beneficiaries in the plan. A fiduciary’s responsibilities include:

  • acting solely in the interest of the participants and their beneficiaries;

  • acting for the exclusive purpose of providing benefits to workers participating in the plan and their beneficiaries, and defraying reasonable expenses of the plan;

  • carrying out duties with the care, skill, prudence and diligence of a prudent person familiar with the matters;

  • following the plan documents; and

  • diversifying plan investments

 

Information provided by the Internal Revenue Service

Fee Savings Examples

A Partner Committed to Your Success

 

Our clients have learned that a qualified retirement plan is a powerful tool for attracting and retaining employees and executives at all levels of an organization.  What’s more, they still rank among the best of tax shelters, with potential for bringing profound and lasting benefits to your business and personal finances. At the same time, they are complex and subject to compliance with ever-changing laws and regulations.

 

Over the past few years plan providers have improved, upgraded and reduced the cost of establishing and maintaining a retirement plan.  Low cost providers such as Charles Schwab, Fidelity, Vanguard and others are now in the small-plan retirement market.  We work closely with these providers to assist our clients in accessing low-cost, highly reputable plan services.

 

Small plans range from start-ups with as few as 10 participants to as many as 250 participants with assets in the millions of dollars.  Whatever the range, there is a plan that can fit the retirement needs of your company.

 

We Are A Fiduciary

 

At Integer Wealth, we understand that finding an advisor that can work in the best interests of the plan sponsor and participants is important. 

 

Since we started our firm in 2005, we have been a fiduciary for our clients in our private wealth practice.  We have carried this same fiduciary standard to our retirement plan practice.  As a fiduciary we assist plan sponsors with fulfilling their fiduciary responsibilities by assisting with plan platform selection, selection of plan investments, monitoring and providing participant education about investing for their retirement. 

 

We mince no words…

We Are A Fiduciary To The Plan.

 

Retirement Education

 

One of the most important elements of a retirement program is the ability for participants to access unbiased advice about investing.  As a nationally registered, fee-only advisor we provide education advice that is free of any conflicts. 

 

We can assist participants with asset allocation, answer questions about the various investments in the plan and answer their concerns about navigating the volatility of the marketplace. 

 

We are more than capable of hosting webinars or conference calls to discuss investment ideas, concepts or to give periodic updates about the state of the markets.

 

Fee Transparency

 

When a client engages our services the immediate impact is more fee transparency.   Each service provider we work with discloses their own fees so you know exactly what you and the plan participants are paying.  There are no payments made to us from any investment used in a plan or by the Third Party Administrator.  There are no sub-transfer agency fees, no 12b-(1) fee mutual funds and no variable or fixed annuities used in the plan.  Each provider discloses exactly what you pay for services.  That is the rule!

 

* Fee Savings Examples based on savings over twenty years at an average return of 8% versus a traditional 1.5% annual 401(k) expense ratio.