How 401k Squared Can Help You

401k plans and services we provide (including safe harbor 401k and 403b plans)

We design, implement and maintain the following types of qualified retirement plans:

401k Safe Harbor 401k 401k Safe Harbor & Profit Sharing 403b Plans 401a 457a Deferred Compensation 457b Deferred Compensation Profit Sharing SIMPLE SEP Cash Balance Defined Benefit

For more information about our Safe Harbor 401k, 403b plans or any other qualified retirement plans we offer…email us or call 303-797-1401. Be sure and read the How We Work section of this website for complete details about how we service each 401k plan we provide.

Becoming a client of 401k Squared

Two common questions many employers ask about their employees’ retirement plan is:

1. Am I offering the best plan that is available?
2. How can I find out if I am offering the best plan available to my employees?

If this sounds familiar, determining if you really are providing your employees with the best plan is easy…

Step One: Schedule an initial consultation

You can schedule an initial consultation with advisors from 401k Squared. This consultation is designed to be fact-finding in nature, allowing the advisors to obtain information to complete a Benchmark Analysis of your current plan.

The goal of the analysis is to help you evaluate and manage your 401k plan while providing participants with the confidence and comfort that their plan is being managed wisely. It assesses plan design, employee participation, asset investment, employee education, total plan cost, and fiduciary responsibility.

Step Two: Meet to review findings of the Benchmark Analysis

Once we have completed the benchmark, we will meet with you and go through our findings. The plans we Benchmark generally fall into one of three categories:

1. The Plan Sponsor is largely satisfied with the current plan and service from the advisor. There is minimal room for improvement and the sponsor should be congratulated on their prudent management of the plan.

2. The Plan Sponsor sees specific areas for improvement. A clear path for improvement is evident; however, the sponsor would like to review and to improve those areas with their current advisor.

3. The Plan Sponsor realizes there are significant issues with the plan and knows a change must be made to obtain the desired improvements.

When strengths and weaknesses are identified, the process for improvement becomes clear. If there are tangible areas for improvement, you decide if you would like to move forward.

Step Three: Broker of record change or accept and review proposals from vendors

Many plan sponsors we work with realize that they can make improvements with their plan, but they do not want to take on the task of moving the plan from its current vendor. In step three, you have the option to leave your plan with your vendor and just have 401k Squared simply take over as the broker of record and begin servicing it. This is the easiest, least disruptive way to begin to improve your plan. 

However, if we have found there are significant issues with the plan that warrants moving it altogether, we will put out an RFP, or a request for proposals.

Step Four: Discuss plan design

Unlike many brokerage firms, 401k Squared takes a consultative approach to plan design in addition to its role as the plan advisor. A basic 401k plan may be perfect for your company, but what if your needs go beyond that?

Is your plan a Safe Harbor 401k plan? Has it been Cross-Tested? What about layering a Cash Balance Plan on top of your 401k?

If your current advisor hasn’t mentioned these ideas to you, you are not taking full advantage of the opportunities available to you and to your employees. 401k Squared will look at all options regarding plan design and recommend the best strategy for your needs and goals.

Step Five: Set up the new plan for your employees

After a vendor has been chosen, the proper plan design has been determined, and your plan documents have been reviewed and signed, 401k Squared will schedule enrollment or reenrollment meetings to introduce the new plan to participants.

After the enrollment period is complete, you will receive your customized communication plan and also an outline of the employee education program for the first plan year.

If you have questions about our process or if you're ready to set-up your initial consultation, contact us today.