Plan Design Review

We sit down on an annual basis with the plan’s outside or internal Administrator to review potential changes to plan design. Businesses can have dramatically different goals for their Retirement Plans on a year to year basis. While some strive to maximize contributions and tax savings for the business owners, others want to incentivize rank-and-file employees. If you’re a business owner, you want to understand your Retirement Plan design because the consequences of making poor choices can be severe – including incurring unnecessary plan expenses, poor plan participation, and annual testing failures. Together with the Administrator, we will look at the plan structure and address any changes that need to be made in the coming year.