Small Business Retirement Plans
Small businesses need healthy retirement plans. Whether you are a sole proprietorship or have a staff you rely upon for your success, chances are you will want to set aside some portion of your earnings for your later years and offer your valued employees the opportunity to do the same.
If you are seeking to establish a new plan or evaluate a current plan for cost effectiveness and suitability, we can guide you through the selection of plan options (SEP IRA, 401(k) plan, solo 401(k), SIMPLE IRA, etc.), help you develop an investment policy statement and determine the appropriate mix of investments best suited to you and your staff.
401(k) Plan Fiduciary Advisor
The Pension Protection Act of 2006 has a provision which allows employers to offer specific investment advice to plan participants without exposing themselves to increased liability. This advice can be provided by a third-party Registered Investment Advisor as long as a formal agreement is drafted requiring the advisor to meet certain legal requirements and acknowledge the advisor’s fiduciary duty to the plan participants. Advisory fees can be paid by the employer directly or by plan assets. True Blue Financial Coaching is happy to meet those requirements and serve as an independent Plan Fiduciary Advisor. See our small business resources page for more information about this new ruling.
Cost Effective Fee Model
Most advisors charge a percentage of assets under management and therefore shun small retirement plans due to insufficient asset size. At True Blue Financial Coaching, we serve our clients on an hourly, as-needed basis. We are strictly fee-only and accept no form of compensation from any third party. This means less cost to you and more earning power for your plan assets. After an initial information-gathering meeting, we will provide an estimate based on your specific requirements. We will help you choose the appropriate retirement plan, determine the investment mix and provide retirement planning education to your staff as needed.
When you’re ready to get started or if you need further information, contact us by email or by phone at 1.800.984.7900.
Check out our small business resources page for helpful links and documents.