An Important Decision
As an employer and sponsor of a 401(k) plan, your company shoulders a major responsibility. You must listen to the needs of your employees and then select the appropriate service provider(s) at a reasonable cost, determine the optimal plan design provisions, choose and monitor investments, keep up with legislative changes, ensure your plan is administered properly, and educate and inform plan participants. All of this hopefully results in a plan that inspires employees to reach their retirement dreams, while helping you recruit and retain valuable associates.
Unless your company has individuals with 401(k) expertise who are solely dedicated to managing your employee retirement plan, you should consider hiring a financial advisor who specializes in 401(k) plans and is as dedicated to your needs as you are to your employees.
Why Choose Capital Investment Services
As your financial advisors, we’re objective and fully independent in making recommendations to you and your employees. Because we don’t offer a proprietary “in-house” 401(k) plan, we have no incentive to sell any specific product, but work with virtually all the different product and service providers in the 401(k) market. Our goal is to build and foster long-term relationships with you as well as with your company and its employees.
Components of a Successful Plan
401(k) plans have many different moving parts that must be coordinated to run smoothly and meet the needs of the organization sponsoring the plan. If the different components don’t fit well together or match your needs, the results may include incorrect depositing of funds, inaccurate and untimely participant information or IRS reporting, and/or employees who don’t understand, appreciate or participate in the plan.
In general, all 401(k) plans have the same basic objective – to serve as a retirement savings plan for employees. Yet there are many different 401(k) plan models that suit a wide range of specific company needs. The 401(k) advisor’s role is to help you set reasonable expectations, select the most appropriate plan, then manage all the components on an ongoing basis to help ensure a successful plan.