Reviewing Your Existing Plan

If you already sponsor a retirement plan, it’s a good idea to periodically review your plan design. In our experience, this process sometimes reveals opportunities to improve your existing plan or even take a fresh look at alternative programs. 

At P&A, we’re here to give you independent, honest, and sound advice. We won’t advise a new plan unless it’s absolutely beneficial. We'll help you determine whether your current plan is aligned with your goals or if you would potentially benefit by adopting new or different plan design features. Areas we’ll cover together include:

  • Assessing your current plan and key features
  • Assessing overall plan adequacy compared to employee income needs
  • Reviewing plan documents
  • Reviewing government filings
  • Reviewing compliance test results
  • Reviewing administrative procedures
  • Evaluating your current administrative arrangement and associated costs

In other words, we’ll roll up our sleeves and wade through the myriad of filings and procedural documents to determine your position. We can even simulate an IRS audit of your plan to uncover any compliance issues. It’s not pretty, but it does show how serious we are about finding the best solution for your business and for your employees.

To learn more about how we can review your existing retirement plan design contact us