Qualified Retirement Plans
A well designed and properly managed retirement plan for your medical office can provide many benefits to you and your employees:
- Attract qualified candidates
- Retain valuable employees
- Incentivize key personnel
- Help employees save for their retirement on a tax-deferred basis
- Provide retirement security for you and your employees
- Gain valuable tax benefits for you
- Enable you to shift a percentage of profits into retirement assets
Determining what type of plan best suits your medical office is often a matter of vital statistics, as well as your goals and objectives. We help analyze factors that are specific to your office in recommending a plan design. These include:
- Workforce demographics
- Employee turnover
- Other office-sponsored plans, if any
- Number of employees
- Number of office locations
- Percentage of highly compensated employees or non-owner physicians
- Business revenue projection
- Employer ownership in other companies, if any
To assist you in carrying out your plan fiduciary responsibilities under the Employee Retirement Income Security Act (ERISA), as Accredited Investment Fiduciary® (AIF®) professionals and your plan 3(21) co-fiduciary, we help you:
- Administer and manage your plan prudently and in the best interest of your plan participants and beneficiaries.
- Create and maintain a comprehensive investment plan, strategy or policy statement that documents the processes and procedures that are used to manage your plan.
- Apply objective standards for evaluating and selecting appropriate investment options.
- Assess plan operation and evaluate plan design or feature changes as appropriate.
- Evaluate your current fiduciary practices and implement actions to help mitigate compliance and litigation risks.
- Understand your important fiduciary roles, responsibilities and obligations with more confidence.