Group Retirement Planning
About the Service
Offering your employees the right retirement plan is key for retention and a happy work environment. However choosing the right plan can be challenging due to constantly changing rules and regulations. Financial Designs partners with The 401(k) Lab, a financial services firm located in Miami, Florida that specializes in corporate retirement plans. Currently The 401(k) Lab team oversees over 250 plans.
Why is it important to plan for retirement? Offering a qualified retirement plan is an ideal way to attract and retain highly qualified employees.
Benefits of the Service for employer:
Create positive employee relations: Help to attract and retain quality employees and reduce turnover.
Tax advantages: Eligible contributions are deductible expenses to your business.
Benefits of the Service for employee:
Retirement plans: Contributing to a retirement plan now can help employees meet their future financial and retirement goals.
Tax advantages: Deductions for contributions made to the plan, tax credits for employer contributions, tax-deferred growth of assets in the plan, and tax-free withdrawals for qualified expenses.
What is the process when an employer is interested in offering a 401k to their team?
There are two paths that we take:
1
For companies that don’t currently have a plan, we request a census and a meeting with the potential client to complete a needs analysis (why they want a plan and how it will benefit the company)
2
For companies that have existing plans, our team will take time to closely analyze the existing plan before making recommendations on where plan improvements can be made.
How do you assist in implementation/maintenance?
When you’ve selected the plan that best fits your needs, our team will handle the analysis, onboarding and ongoing servicing of the plan. We’ll be there to answer any questions you or your employee might have about their plan and how best to utilize it and prepare for retirement. Plus, we’ll conduct an annual review of the plan, to ensure that it is offering the most efficient investment options for your team.
Related Services
Risk Management
Packages
We create fully customized employee benefits solutions for our clients. Whether you have 10 employees or 5,000, we will curate a package to fit your company’s needs and budget.
Human Capital Management
FD Wealth
At Financial Designs Wealth, we empower our clients to take charge of their personal finances and build their legacy. We make financial planning a positive experience for each client we work with.
