Posts by cinchws

When is the last time that you reviewed your Plan Design?   The design of your plan sets the foundation of your entire employee retirement plan.  The provisions that you choose are placed in your plan document, which determines the rules and mandates for your plan.  Do you want individually designed plan, or a more…

When choosing the investment platform for your plan, there are many things to consider!  The size, provisions and investment philosophies differ greatly between investment companies and it is hard to tell the difference between them.  Your NorthStar Financial Partners advisor can navigate through the complexities of the providers to match you with the right platform.…

You have decided to move your 401(k) Plan to a new provider!  What are the steps and what is the best way to do it?   Logistical decisions to be made in advance Change in Plan provisions- match, loans, vesting, etc. Method to transfer the funds- mapping, new participant choice Group or individual enrollments  …

Fees for a 401(k) Plan typically fall into two categories: Plan Sponsor fees and Participant fees.   Plan Sponsor fees include:   Document Fees: Expense for creating and maintaining the document, creating summary plan description, mandatory amendments Administrative Fees: Expense for filing annual tax documents, possible annual testing, participant loan processing, hardships, distributions, etc. Recordkeeping…

What is the difference between offering investment models in your 401(k) plan and investment company target based accounts? Let’s define the two: Investment models are groups of investments offered to participants, usually at different risk levels. For example, a conservative model will have much less invested in the stock market than an aggressive growth model.…

Some may find is surprising that an advisor would take the time to go through an enrollment with a new employee!  But this is where their experience begins- to help them become more successful as a saver for retirement!   Once your employee is eligible, we will help them enroll online.  We will describe the…

Here are some questions to ask when reviewing your 401(k) Plan for quality service: Are your employees sometimes unsuccessful getting enrolled in the plan because they just do not get around to it, or need assistance that is not available? Do you never hear your employees talk about their 401(k) account, unless they are complaining…