Retirement Plans

In this day and age of technology and digital communication, information – of good and bad quality – is readily available at our keyboard, smart phone, “watch” and mainstream media.  A key element of Retirement Plan Design and Service for August Financial Consulting is to assist employers in sifting through the myriad plan designs and features to focus on the plan that most efficiently meets the employer goals and objectives.  For employees it means quality investment choices – monitored regularly – ease of access to the plan and clear and concise investment and planning education.

Retirement plans for your company can take on several different shapes and sizes depending upon your specific goals.  Some plans designed for smaller companies carry the benefits of being low cost and uncomplicated to establish and administer.  These include:

  • Individual 401(k)

Other plans typically found at larger companies can be a bit more complicated, but carry specific benefits not addressed by the smaller plans.  This includes being able to establish a combined 401(k)/Profit Sharing plan to maximize the amounts that can be contributed.  These plans provide means for principles and other highly compensated employees to maximize their pre-tax contribution and subsequent tax benefit.  For example:

  • 401(k) / Safe Harbor
  • Profit Sharing
  • Combination Profit Sharing/401(k) or Pension
  • Defined Benefit Plans

If you are an employer considering providing the retirement plan benefit to you and your employees or would like a comprehensive evaluation of your existing plan – Please let us know!  Our approach is straightforward, yet detailed with a rigorous review of:

  • Plan Design – is it the best structure to meet YOUR objectives?
  • Service Provider(s) – are YOU and your employees being taken care of?
    • We can provide assistance with DOL/ERISA compliance
    • We can reduce fiduciary liability
    • We focus on customer service.
    • Plan Cost – are there hidden fees? How does your plan compare?
    • Investment choices – ongoing evaluation for consistency – targeting “best in class”