Employers face many choices when developing or altering their defined contribution plans. Employee Benefits Law Group has the experience to help you determine the proper plan and design it so you can meet your goals, provide attractive retirement benefits and ensure the plan's fiduciary investment structure provides as much protection as possible.
We can help you determine and implement the best combination of defined contribution plans.
Most people are familiar with the most common defined contribution plan, the 401(k), which allows participants to make pre-tax salary deferral contributions that may or may not be matched by the employer. There are actually six additional types of defined contribution plans, and we can help implement any combination of them. They include:
Defined contribution plan alternatives have increased in recent years. For example, profit sharing plans and money purchase pension plans can use simple formulas that allocate contributions by relative compensation or complex formulas that simulate the accruals that occur in a defined benefit plan to maximize benefits.
We will work with you to build a sound defined contribution plan that attracts and retains the best talent while protecting your goals and interests.