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Making the Complex Simple: Starting a Retirement Plan

One of the biggest problems facing American workers when it comes to their financial security is a lack of adequate retirement savings. A leading cause of that is the simple fact that too many workers do not have access to a retirement plan through their job. There are a variety of reasons for this, not the least of which is the complex regulations that govern these plans. The thought of trying to navigate the sea of rules, regulations, notices, filing deadlines, contribution limits, investment selection, fiduciary liability etc... can be overwhelming and can discourage employers from starting a plan. This is unfortunate as qualified plans offer tremendous opportunities for those decision makers to accumulate wealth in a tax advantaged way and also offer a valuable benefit to their current and prospective employees.

The good news is that it does not need to be difficult to start a plan. By partnering with C&N’s Retirement Services team, all of that complexity and a great deal of the liability is taken off of your shoulders. Our team of professionals will be able to make the process of opening the plan as simple as having a couple of conversations with you to ensure that the plan will function as you would like it to. From there, we will take care of everything else, including:

  • Drafting and maintaining the plan document
  • Create the plan’s investment menu and take liability off of your shoulder by serving as Discretionary Trustee
  • Meeting with all of your employees to explain the plan, discuss the importance of saving for retirement, providing investment advice, and helping to get enrollment forms filled out.
  • Working with your payroll provider to make sure everything is set up and ready to go when the plan is up and running
  • Doing all of the ongoing plan administration in-house, including processing of contributions and distributions, quarterly statement production, annual compliance testing and plan reviews

We have a straight forward fee schedule and do not receive any revenue sharing payments from the plan’s investments. We are not tied to any particular mutual fund company and are therefore able to apply an objective process to screen for the best investment options for you and your participants and to provide objective investment advice. We would love to work with you to get a plan started. Despite the complexity associated with qualified retirement plans, we will make it simple for you!

Some products are not FDIC insured or guaranteed, not a deposit or other obligation of the bank, not guaranteed by the bank and are subject to investment risk, including the possible loss of the principal amount invested and are not insured by any other federal government agency.