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 Taxes aren’t paid until the money is withdrawn from the account.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.
Call Spherient Advisors 1-800-385-2309