A 401(k) is a retirement savings plan that allows employees to save and invest a portion of their paycheck before taxes are taken out. Taxes aren’t paid until the money is withdrawn from the account. Spherient Retirement Advisors helps by recommending plan design changes, overseeing a thorough investment due diligence program, simplifying employee education, and vendor management. In general, Spherient Retirement Advisors can help you manage your fiduciary risk, compress fees, and maximize employee appreciation of your 401(k) plan.
A defined contribution plan is a retirement plan in which a certain dollar amount or percentage of money is set aside each year by an employee and/or employer for the future benefit of the employee. The amount contributed is fixed. The amount accumulated at retirement depends on how much is contributed to the plan, how much the employee saved in the plan, how long the funds were invested, and how well the investments inside the plan performed.
Spherient Retirement Advisors provide vendor neutral RFP services, a custom investment due diligence program, IPS development, Committee Charter development, meeting minutes services, document storage, fiduciary education, and employee education.
Given additional regulatory oversight, potential administrative liabilities, and increased fee scrutiny, it is imperative that employers use an advisor that is qualified to serve as a fiduciary. Spherient Retirement Advisors can serve as either a 3(21) or 3(31) co-fiduciary for your plan.
Spherient Advisors is licensed to manage all types of defined contribution plans.
A 401(a) plan is an employer-funded retirement savings plan that typically sets aside a percentage of employee’s compensation or the company’s profit. Spherient Retirement Advisors will partner with you as co-fiduciary to establish or maintain a 401 (a) plan and assist with compliance, oversight, and vendor management.
A 403(b) plan, also known as a “tax-sheltered annuity plan (TSA),” is a retirement plan for certain employees of public schools, tax-exempt organizations, and certain religious ministers. Spherient Retirement Advisors has a strong presence in the 401(b) space. The familiarity is extremely helpful to our non-profit clients in helping them find suitable vendors and vendor deliverable management.
Similar to a 401 (k) or a 403 (b), a 457 plan is a type of qualified, tax-advantaged deferred-compensation retirement plan that is available for state and local public employees and certain independent contractors but can also be offered by certain nonprofit organizations. Unlike a 401(k) plan, there is no 10% penalty for withdrawal before the age of 59½, although the withdrawal is subject to ordinary income taxation. These plans can be somewhat unique, and Spherient Retirement Advisors experience in this market and vendor familiarity help assist our clients with best practices.
Call Spherient Advisors 1-800-385-2309
Securities and Investment Advisory Services offered through
Kestra Advisor Services, LLC (NFPAS), member FINRA/SIPC.
NFPAS is not affiliated with Spherient Advisors, LLC
7275 Glen Forest Drive, Suite 202
Richmond, Virginia 23226
200 East Nine Mile Road
Highland Springs, Virginia 23075
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