401(k) Planning

A retirement plan should work for both the business that provides it

and the people who depend on it.

A 401(k) is more than a collection of investments. Plan design, costs, investment choices, fiduciary processes, participant education, contribution decisions, and how the plan fits within an individual's broader financial picture can all influence outcomes.

Whether you are responsible for a company retirement plan or participating in one, understanding how the plan works is the first step toward using it more effectively.

For Employers & Plan Sponsors

Evaluate plan costs, investment options, fiduciary processes, plan design, participant outcomes, and opportunities for improvement.

For Employees & Participants

Understand contributions, investment choices, Roth versus pretax decisions, SDBA options, beneficiaries, rollovers, and how your 401(k) fits within your broader financial plan.

401(k) Benchmark Review

A retirement plan should be reviewed periodically to determine whether its costs, investment options, plan design, participant experience, and fiduciary processes continue to support the objectives of the plan and its participants.

Our Benchmark Review provides a structured evaluation of key plan components and identifies areas that may warrant further review or consideration.

We review the costs associated with the plan and consider how those costs compare with the services and investment options being provided, including:

• Investment expense ratios
• Recordkeeping and administrative fees
• Advisor and third party compensation

What we're looking for: Opportunities to improve fee transparency, identify potentially unnecessary costs, and better understand the overall value being delivered to the plan and its participants.

We review how the investment lineup is structured, including:

Diversification across asset classes
Overlap or redundancy among funds
Availability of risk-based or target-date options

Prudent consideration: Streamlining the lineup or improving diversification to better support participant

Rather than focusing solely on short term performance, we review investment results within the broader context of the plan, including:

• Performance after applicable investment expenses
• Comparison with relevant benchmarks where appropriate
• Risk and performance over meaningful time periods
• Whether the available investment options continue to support the objectives of the plan.

What we're looking for: Investment options that can be evaluated based on more than recent returns, with consideration given to costs, risk, consistency, and the role each option is intended to serve within the plan.

We identify whether the plan offers a self directed brokerage account (SDBA) and review how that feature fits within the overall plan, including:

• How the brokerage option is structured
• The range of investment choices available beyond the core plan menu
• Whether participants are aware of the option and understand how it works
• Applicable fees, limitations, and plan restrictions
• Participant education and access requirements

What we're looking for: Whether an SDBA can provide participants with broader investment choice beyond the plan's core menu, without requiring the plan sponsor to continually expand or modify the core investment lineup.

We review plan design features that can influence how employees participate in and use the retirement plan, including:

• Eligibility and participation features
• Employer matching and contribution structure
• Automatic enrollment and escalation features
• Default investment options
• Access to participant education and guidance

What we're looking for: Opportunities to improve participation, encourage appropriate contribution behavior, support diversification, and help employees make better informed decisions without creating unnecessary complexity.

We review whether the plan sponsor has a documented and repeatable process for overseeing key aspects of the retirement plan, including:

• Investment policy statement (IPS) alignment
• Review cadence and committee practices
• Documentation of investment and plan decisions
• Processes for monitoring plan investments, fees, and service providers

What we're looking for: A consistent and well documented process that helps plan fiduciaries demonstrate how decisions are evaluated, monitored, and revisited over time.

401(k) Participant Education

Your 401(k) may become one of the largest financial assets you accumulate during your working years. Understanding how to use it can be just as important as contributing to it.

Contribution levels, employer matching, pretax and Roth decisions, investment choices, fees, beneficiary designations, brokerage options, and decisions made when changing jobs or retiring can all affect how your 401(k) fits within your broader financial plan.

Are You Making the Most of Your 401(k)?

Contributions & Employer Match

Are you contributing enough to take full advantage of the benefits available through your plan, including any employer matching contribution?

Pretax or Roth?

Should your contributions be pretax, Roth, or a combination of both based on your current circumstances and broader financial and tax strategy?

Investment Choices

Do you understand what you own, how those investments work together, and whether they align with your objectives, time horizon, and risk tolerance?

Beyond the Core Menu

Does your plan offer a self directed brokerage account or other investment choices beyond the standard menu, and could those options be appropriate for you?

Beneficiaries & Estate Planning

Are your beneficiary designations current and coordinated with your broader estate and legacy planning objectives?

Changing Jobs or Retiring

What should you consider before deciding what to do with your 401(k) when you change employers or retire?

SDBA (Self Directed Brokerage Account) Education

This educational content is intended to help participants better understand self directed brokerage accounts and how they may fit within a 401(k) plan. Individual circumstances, plan features, investment options, fees, and investment risks should be considered before making investment decisions.

Watch Video

Your 401(k) Should Be Part of the Bigger Picture

Whether you are responsible for a company retirement plan or participating in one, the decisions made within a 401(k) can affect much more than the account itself. Investments, taxes, retirement income, risk, and long term financial objectives should be considered together.

Is your 401(k) working as effectively as it could?

Start the Conversation