We specialize in providing comprehensive 401(k) and employer-sponsored plan administration that stands out from the competition. Here’s why we’re the right choice for your business:
- Customized Plan Design: We work closely with you to design 401(k) and retirement plans that align with your company’s goals and meet the unique needs of your employees. Our tailored solutions ensure maximum benefit to both the business and its employees.
- Full-Service Administration: From plan setup to ongoing management, we handle every aspect of your retirement plan’s investments. We manage the complexities, so you don’t have to. Our goal is to make the process as smooth and efficient as possible for you and your employees.
- Compliance Expertise: Navigating the rules and regulations surrounding employer-sponsored plans can be daunting. At Capital Choice, we partner with record keepers and Third Party Administrators that work on your behalf to keep your plan compliant with all federal regulations, reducing your risk and giving you peace of mind.
- Employee Education and Support: We provide employees with the guidance and resources they need to make informed decisions about their retirement savings. Through educational tools, webinars, and one-on-one support, we help empower your workforce to take control of their financial future.
- Ongoing Service and Support: We’re committed to long-term success. From regular plan reviews to personalized support, we stay engaged with you and your employees to ensure the plan continues to meet your needs and goals.
Set Up a New Plan:
• Anytime: A business can set up a new 401(k) plan at any time, but it must be finalized before the end of the tax year (usually December 31) to be effective for that year.
Make Changes to an Existing Plan:
• Anytime: Businesses can modify plan features (e.g., contribution matching or employee eligibility) at any time. However, changes need to be communicated before the start of the new plan year (typically January 1).
Just 1! We will review your different options and the benefits of each type of retirement plan, weighing the pros and cons together. This can range from a sole proprietor to a large corporation.
Simplifying Retirement Plan Compliance
Choosing the right retirement plan for your business affects the filing requirements you'll need to meet. Whether it’s a 401(k), 403(b), or another plan, each comes with specific IRS and Department of Labor obligations.
But don’t worry—we’ve got you covered! We work with trusted Third-Party Administrators (TPAs) and RecordKeepers who handle the plan administration and required IRS filings. Our TPAs ensure your plan stays compliant by conducting annual audits and managing Form 5500, Form 8955-SSA, and other filings.
Let us take the stress out of compliance, so you can focus on your employees’ future.
Setting Up Your Employer-Sponsored Retirement Plan
As your financial advisor, we’ll guide you through every step of setting up a 401(k) or other retirement plan, ensuring it meets your business needs and complies with regulations.
Step 1: Consultation & Plan Selection
We’ll discuss your goals, budget, and workforce to help you choose the right retirement plan (401(k), SEP IRA, etc.).
Step 2: Plan Design
We’ll tailor the plan, defining eligibility, contribution structures, and vesting schedules that fit your business.
Step 3: Investment Options
We’ll select a mix of investment options for your employees, offering a variety of risk levels.
Step 4: Enrollment & Documentation
We’ll handle all the paperwork and set up the enrollment process for your employees to join the plan.
Step 5: Employee Education
We’ll provide resources to help employees understand their plan, investment choices, and contribution options.
Step 6: Ongoing Administration
We’ll ensure your plan stays compliant, managing filings, annual tests, and recordkeeping with the help of our TPAs.
Step 7: Ongoing Support
We’ll provide regular updates and support to keep you informed about plan performance and compliance.
Let us manage the details while you focus on your employees' future.
