Offering a retirement plan to your employees can be one of the most rewarding decisions an employer can make. Not only do your employees and their beneficiaries receive a benefit that is a crucial component in their retirement planning, but the employer can benefit as well.
Here are some common ways:
- Receive significant tax advantages for the owners and their business
- Design a benefit package that is competitive to better recruit top talent
- Structure a compensation plan to reward departments/employees based on productivity
- Create an opportunity for the owners to save for their own retirement while closely monitoring safe harbor rules to ensure that you are maximizing your ability to contribute in a tax efficient manner
Did you know that as a plan sponsor, you have an obligation to your employees to carry out certain important responsibilities because you are acting as a fiduciary on behalf of the participants?
Wesfair Advisory can help you carry out your fiduciary and compliance responsibility, all while providing the following services:
- Construct a retirement plan and investment policy
- Select an investment lineup that is low cost and diverse
- Monitor investments using quantitative and qualitative measures
- Assist in the preparation of key documentation used to support regulatory filings
- Review third-party administrator (TPA) and recordkeeper to ensure competitive pricing and quality service
- Provide on-site market updates and frequent virtual office hours to field investment related queries from employees