A 401(k) plan is one of the most important employee benefits a company can offer. A good plan should be effective and flexible for participants, in order to help them meet their retirement savings objectives, yet simple and efficient for administrators.
A successful 401(k) plan should not only encourage participation, but should also inspire participants to defer enough of their salary to prepare for a comfortable retirement, and should provide enough options to allow them to ensure their assets are appropriately diversified for their time horizons and retirement goals.
At Compass Financial Advisors, we provide comprehensive support to help you select a plan that meets your company's needs. You will receive local, personalized attention and assistance on critical issues like:
Plan and Vendor Evaluation
Does a vendor's plan include a broad range of investment options? Does it offer auto service features such as auto enrollment, auto increase, or qualified default investment options (some of the provisions of the Pension Protection Act of 2006)?
Is the vendor's installation process smooth and coordinated? Do they offer an effective employee communication and education program?
Ongoing Plan Service
Does the vendor provide ongoing support to help you administer the plan? Are their services designed to help you attract and retain talented employees?
Your employees deserve a 401(k) plan that may help them improve their retirement readiness. Compass offers the ongoing service and support you may need to make the most appropriate provider selection, as you may not have the time or expertise to manage this process alone.