Creating or Managing a 401k Plan

Opening or managing an existing qualified account

Defined contribution plans can be deceiving – from most people’s perspective they appear simple and easy to understand. The money goes in during one’s working years to be invested and comes out when you retire. However, if you are an employer looking to open a defined contribution plan, you will need to answer some complex questions. Such as:

  • Which type of plan is best for your company?
  • What are the benefits of offering a defined contribution plan (such as a 401(k) plan) to my employees?
  • What is a 3(38) fiduciary and why is it important?
  • What is a recordkeeper and do I need one for my plan?
  • Which administrative services should I use and what questions should I be asking them?
  • What is the role of a third-party administration service?
  • Do I need one for my plan?
  • Which option is best for our group: a SIMPLE IRA, SEP IRA, or a profit-sharing plan?
  • Do we offer a traditional 401K, ROTH 401k, or both?
  • What is the difference between a traditional 401k and a Safe-Harbor 401k plan?
  • Who will be the trustee of the 401k plan?
  • What are my duties to plan participants?
  • Who will file my 5500 each year and manage 402(f) notices?
  • What will the startup and ongoing costs be?
  • How will our employees be enrolled and educated in the plan?
  • How do I determine the investment fund line-up for the plan?
  • What tax benefits exist for offering a 401k? Do I qualify?

At Tencap Wealth Coaching, we are ready to guide you in answering each of these questions for your situation. Our experience in the industry has provided us with an incredible network of resources and providers that we are excited to introduce to you to make this a seamless process.

The financial advisors at Tencap will coach you on all of the information and facts relative to defined contribution plans. By partnering with an advisor from Tencap, you can count on us to help you:

  • Open a 401k
  • Assist in managing your 401k
  • Building your fund line-up for your 401k
  • Assisting in the compliance of your 401k
  • Sharing in the liability for your 401k.

Running a business requires your savvy intellect and hard work. We want you to allow you to do what you do best in running your business and let us take on the majority of the heavy lifting relative to your company’s defined contribution plan. Starting today!


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