Enhance employee retention and attract new talent while providing your business with tax savings
Having a proper 401(k) plan in place is vital in preparing your employees for retirement and can be an asset for your business’s financial security. A 401(k) can greatly benefit you and your company as you will be able to deduct your contributions from your taxes, retain key employees and save for your retirement simultaneously. We will guide you through the set-up, maintenance, and ongoing support for 401(k) plans. A 401(k) plan will:
- Aid in key employee retention
- Attract the best job candidates
- Allow for tax deductible contributions
From analyzing investments, developing an investment policy statement, educating employees, selecting and monitoring diversified investments and annually reviewing investment options, a plan sponsor is faced with increasing responsibilities when managing their company’s retirement plan. To assist with these tasks, The Prosperity Consulting Group takes on the role of a co-fiduciary to ease your legal liability and represent your best interests. Working with a versatile team, which includes an in-house AIF® Designated Advisor, The Prosperity Consulting Group is available to assist with retirement plan investment advisory services.
AIF® designations are formally recognized by the Center for Fiduciary Studies™ for demonstrating a full understanding of how to implement processes to help clients fulfill their fiduciary obligations. They use the knowledge and resources they have gained to:
- Evaluate your current fiduciary practices and provide recommendations
- Create and implement an investment policy statement that documents all of the processes and procedures that will be used to manage your portfolio
- Analyze your portfolio’s asset allocation to better align with the plan or fund’s specific investment objective or the needs of plan participants
- Apply objective standards for evaluating and recommending appropriate investment options for your portfolio
- Evaluate the performance of your portfolio and its underlying investments on a continuous basis and recommend changes when necessary
- Serve as a valuable resource for education and assistance to help you understand and fulfill your fiduciary obligations with greater confidence
The Prosperity Consulting Group, LLC has the ability to operate in ERISA Section 3(21) or 3(38) investment advisor capacity, which removes the burden of day-to-day oversight from your shoulders and allows us to take on co-fiduciary responsibilities for managing assets in your retirement plan.