Plan Design Solutions
Creating a Personalized Plan
A “one size fits all” approach doesn’t work when it comes to retirement plans. Employer goals can vary significantly, and your retirement plan should be tailored to meet those objectives. Some common employer goals include:
Attracting and retaining top talent
Maximizing contributions for owners and key employees
Providing employees with a means to save for retirement
Gaining tax deductions for the company
When designing a retirement plan, it’s crucial to consider factors such as compliance standards, overall costs, and participant outcomes. The goal is to create a plan that benefits both the organization and its employees. As a business evolves, the goals of the retirement plan may shift, so it’s important to regularly review plan design options to ensure the most effective strategy is in place.
Plan Design Highlights
Employee and employer contributions (e.g., matching, Roth, and profit-sharing)
Assistance with enrollment, eligibility, and distribution options
Strategies to enhance participation (e.g., automatic features)
Approaches to maximize employer contributions
Vesting schedules
