Corporate & Non Profit 401(k)/Retirement

We provide creative solutions to help you develop an effective and efficient plan design. Your company may have specific expectations for participation, employer retirement funding, employee contributions, vesting, loans, or other goals. The size of your business may have recently changed, leading to potential inefficiencies in your current plan design. Does your current plan design meet your needs and goals? After helping you identify your goals and objectives, it is time to review your plan design.

You want strong performing investments

It is important that plan fiduciaries have a well-documented investment process that justifies the selection, monitoring and replacing of the plan's investments. Carolina Financial Advisors works alongside plan sponsors to provide high quality investment choices. These choices will have strong performance and will help mitigate employer liabilities by applying a strict regimen for every step of the investment process. 

Employers need processes and procedures that reduce fiduciary liability

 Now that you have offered a valuable benefit to your employees, it is important to understand who the plan fiduciaries are, what responsibilities are required, and what risks these fiduciaries encounter.  A plan fiduciary is anyone who exercises authority over plan assets, renders investment advice for a fee, or has discretionary authority in the administration of the plan. Plan Fiduciaries must act solely in the interest of plan participants and their beneficiaries, prudently administer the plan and manage its assets, follow plan documentation and must diversify plan investments to minimize risk of large loses. Additionally, a plan fiduciary is personally liable to the plan for losses and lost opportunity cost resulting from breaches of duty, may be subject to Department of Labor civil fines or excise taxes, and may be required to pay other legal fees associated with a breach.

We work with you and your retirement plan committee to identify necessary fiduciary responsibilities and implement procedures to properly fulfill those obligations. Our approach identifies potential weaknesses and assists with correcting deficiencies by guiding plan sponsors to appropriate actions and changes.

Employers want a plan service provider that best meets your plan goals with great value

Many changes are happening in the corporate retirement planning industry. It is possible that your plan service provider has become expensive or obsolete in comparison to other options. We recommend that you perform a plan benchmark review every 3 years. As a Fiduciary, you are required to regularly review the overall performance of your current plan in comparison to other competing options in the industry. You are also required to select the appropriate service provider that best meets the stated goals of the plan sponsor and is in the best interest of plan participants. We facilitate this process by providing an unbiased proposal request process that includes competing proposals from several industry-leading plan providers. As enhancements are revealed through this process, we will assist you in implementing these beneficial changes. 

You want an advisory team that is passionate about the financial success of you and your employees

We have a passion to see people wisely prepare for retirement. With over 45 years of combined retirement plan consulting experience, our team is prepared to help you make effective improvements in and maintain your retirement plan program while providing first class education to employees.