Retirement Plan Design | TSC 401K

Is Your Current Retirement Plan Meeting Your Needs?

A successful retirement plan can help attract and retain great employees and promote retirement readiness while offering substantial tax benefits for employers and business owners. At TSC 401K, we believe that for a plan to be truly successful, it must meet your company’s unique needs and goals. By learning about your employee demographics, business goals, financial resources, and tax objectives, we can offer a customized plan specifically designed to meet those objectives.

Our Plan Options

You have many options regarding your business’s retirement plan design. Below are the many choices we can start with to begin developing your custom plan.

Safe Harbor

These 401(k) plans provide all eligible plan participants with an employer contribution and allow businesses to avoid annual IRS nondiscrimination testing.

Cross-Testing (New Comparability)

This plan allows employers to create separate benefit groups with their own contribution rates, often in favor of older, higher-paid employees.

Automatic Enrollment & Automation Increase

Automatic Enrollment enables employers to automatically withhold and deposit a predetermined percentage of pay into the plan unless the employee elects not to contribute that amount.

Cash Balance Plans

TSC 401K offers cash balance plan administration services. These plans offer the increased benefit limitations associated with a traditional defined benefit plan but with more flexibility in design and managing market volatility.

Prevailing Wage

Contractors subject to “prevailing wage” laws can benefit significantly by contributing “fringe benefits” to a retirement plan. This allows them to save on payroll taxes while improving the plan’s nondiscrimination testing results.

403(b) Plans

403(b) are similar to 401(k) plans but intended for nonprofit businesses and organizations. A 403(b) plan offers the same flexibility and innovative design solutions as 401(k) plans.

As Your Business Changes, So Does Your Plan

Before the development of your business’s retirement plan, we take the time to gather data and sit down with your team to determine what’s important to you and suggest possible solutions, their pros and cons, and alternatives. Then, once we’re supplied with the correct data and information, we can prepare a design illustration matching the business’s needs and goals. As a new client, we always take the time to cover the exacts of your new plan and answer any questions you have.

But even once a plan is created, that doesn’t mean our work is done. Over time, your business needs and goals will change, so our team at TSC 401K continually reviews your company’s plan design. We make appropriate changes based on your evolving needs. So, in case your business goals change, you’ll have an experienced consultant who is prepared to update your plan to best suit your current and most pressing requirements.

PLAN DESIGN