The Perfect Concoction for a Successful 401(k) Plan
Brightscope recently released its 8th annual list of the top 30 401(k) plans (2016). Big names like Delta, the NFL, Southwest, UPS and Google made the list.
If you’re a small business owner or an advisor for retirement plan sponsors, attaining a spot on this list may seem far-fetched. So, how do you make your 401(k) plan stand out to potential employees, boost retirement savings for participants, and how do you keep your 401(k) plan provisions competitive when compared to those of these large employers? The top plans in Brightscope’s list had a few 401(k) plan ingredients they focused on, which you can include in your own plan!
Plan Sponsors, when considering your 401(k) plan design, make sure to include both your retirement plan advisor and your compliance consultant in the discussion. They will help guide you in choosing the best plan design elements for both you and your participants. Use their expertise to help you build a competitive and successful 401(k) plan to give you and your participants a healthy and secure retirement for the years to come!
Retirement plan advisors, lean on your compliance consultant partners for their plan design expertise! They can help you meet your clients’ goals and build a stronger relationship wth your client. By partnering with a quality compliance consulting firm, you will add immeasurable value to your client relationship. This will help you retain your clients well into the future and build your retirement plan practice.