Plan Sponsor
Why should my company offer a 401(k) plan to our employees?
A 401(k) plan can help you attract and retain the best employees, save for retirement, and reduce your current taxable income.

How can we increase retirement plan participation?
Participant education and communication are the milestones of a successful plan. Other incentives such as a company match and one-on-one financial counseling can also encourage savings.

What are the Retirement Plan Limits for 2008?

Is auto-enrollment a good option for new hires and non-participants?
Auto-enrollment can be a step in the right direction. But many companies are going further and implementing “autopilot” programs. These typically encompass auto-enrollment, automatic saving, automatic annual deferral increases, a prudent default investment option, and explains distribution options.

How do Investment Committees work?
An investment committee is often composed of a company’s top leadership. The group usually meets two to four times a year and may employ the services of a retirement plan advisor. They monitor the investment options, notices and discuss the relevance of any factor in a fund that could affect its continued suitability. From there the committee decides the inclusion or elimination of the funds in the line-up. Minutes of every meeting should be taken and sent or made available to the retirement administrative committee (if one exists) and the Board of Directors.

Why should I mid-year test my plan?
Completing a mid-year nondiscrimination test will let you know if your business is on track to protect the qualified status of its retirement plan. If the test results show you’re off course, you have time to make the necessary adjustments before year end.