You and your business are unique, therefore you should not settle for an off-the-shelf retirement plan. At Benefit Plans Plus, we custom design retirement plans based on the unique demographics, financial resources and the philosophies of your business.

We typically present multiple options, designed to maximize the value for both the employer and employee. This results not only in maximized savings opportunities, but significant pre-tax and after-tax-saving advantages as well.

Approach

When asked to present a retirement plan design, we ask more comprehensive questions, so we can deliver better, bolder answers. Our competition routinely offers the “one size fits all” approach. We know from experience that this approach results in lost opportunities for savings and tax reductions. Typically, we’ll ask very detailed questions about your business goals, your savings goals, and your employees. It is then, that we are prepared to build several custom plan designs from which you can choose.

Are you ready to have Benefit Plans Plus create a custom designed retirement plan for your company and are wondering what you need to do next?

We start by researching and collecting data about the company, its goals for the plan and census information. To get started download a data collection packet.

In addition to the data collection packet, we will need an employee census (i.e. date of birth, date of hire, compensation, etc.) Download the census template now.

Once we have gathered the necessary information, we will create a design packet showing the 3 or 4 best options for your company. The options we typically offer include 401k, profit sharing, safe harbor, cross-tested, and defined benefit plans or a combination of these options. We will make a recommendation and include a summary of the benefits of choosing a certain plan design over the others. For a sample plan design click here.

Once a plan design has been chosen, we can help give recommendations as to which vendor to use for the custody of the assets of the plan. The decision shoud be made based on several factors including the number of participants, amount of current assets in the plan, annual deposits, cost objectives and the options available to your financial advisor.

 

 

Value

The options we typically offer include 401k, profit sharing, safe harbor plans, new comparability, defined benefit plans, cash balance and combinations of these options. Check out our sample plan designs now.

Our goal is simply to provide the best, most cost effective options to help your company and its employees reach retirement planning goals. Many business owners tell us they never knew the impact a redesign could make.
Our design services often pay for themselves!

 

The Plan Design Process