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Setting up or converting a qualified retirement plan typically takes 6 to 8 weeks. However, time-lines can vary based on several factors, including the responsiveness of the plan sponsor, investment platform (custodian), CPA, actuary (if applicable), and the time of year. We strive to streamline this process and can sometimes complete it faster under the right circumstances.

Yes. Through strategic plan design—and when appropriate, the implementation of a second plan or tailored allocation formula—we can help ensure that business owners and key employees receive enhanced benefits aligned with their retirement goals.

While Retirement Benefit Solutions (RBS) and/or the record-keeper handle the bulk of the administrative duties, employers retain some key responsibilities. These typically include:

• Distributing enrollment materials to new employees

• Transmitting contributions to the investment provider

• Submitting annual census data to RBS for testing and deduction optimization

To reduce the employer’s administrative burden, RBS will recommend additional services that may be handled by the recordkeeper or taken on directly by our team when possible.

Employees receive ongoing support and education through:

• On-site or virtual educational seminars

• Enrollment meetings

• One-on-one counseling with a licensed advisor

Your investment advisor is fully licensed to guide employees through their options, and additional support is available through the investment platform’s customer service center.

Yes. Due to recent legislative updates, plan sponsors now have the flexibility to establish a plan in 2025 that applies to the 2024 plan year.

While some conditions must be met, this change enables employers who have not yet filed corporate taxes to retroactively adopt a plan, potentially increasing tax savings and retirement benefits for that year.