The term ideal is rarely used in the same sentence as 401(k). While most employers agree that their retirement plan ought to provide maximum benefit for themselves and for their employees, few plans achieve this goal.
Several factors contribute to this lack of success, including:
- Lack of knowledge
- Excessive fiduciary risk
- Conflicts of interest
- Insufficient transparency
- Needless complexity
- Poor communication
If you were creating the ideal 401(k) plan for your company, you’d want it to offer things like:
- Widespread employee enthusiasm
- Satisfaction with plan design, record-keeping and ease of administration
- Reduced fiduciary risk for plan trustees and other fiduciaries
- Peace of mind for participants
- Higher long-term returns
In our pursuit of excellence, Foster Group has partnered with Savant Institutional to bring the deep and meaningful retirement plan expertise necessary to implement The Ideal 401(k) Plan for our clients.
In offering The Ideal 401(k) Plan, we serve you as a willing fiduciary. We eliminate conflicts of interest. This unique approach offers you efficiency, guides employees, and reduces risk—all while enhancing employee satisfaction and retention. Interested? Let’s talk.