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Qualified Plan Services for Business Owners

Our retirement plan experts are here to help you design qualified plans that maximize your benefits as a business owner and provide your employees with an exemplary experience. We assist you every step of the way. Qualified retirement plans can be highly beneficial for business owners, creating opportunities for your financial well-being down the road. If you’ve been concerned about the liability you’ll take on as a qualified plan sponsor, allow Favia Group to help you manage the responsibility from working with your existing vendors to helping employees understand and make the most of their retirement plan options.  

Favia Group 401(k) Services

Coordinate with Existing Vendors. Favia Group acts as a liaison between your organization and current retirement plan provider, collaborating to bring new ideas and capabilities from them, along with the industry in general, for consideration. Our team works with all parties involved to negotiate and manage plan expenses and fees on your behalf.

Request for Proposal. Allow us to coordinate vendor presentations, and facilitate any changes with your vendors. We’ll provide you with all the advice and guidance you need to evaluate your options, as well as conduct market analysis every three years to keep your plan up to date and compliant with DOL regulations.

Plan Design. Legislation on qualified plans and compliance is constantly evolving. We are committed to providing updates and advice for any new plan design capabilities as well as their potential impact to the plan and participants. We conduct annual reviews to determine if there are any efficiencies that can be gained by plan design changes.

Fiduciary Consulting and Oversight. No need to be overwhelmed by your responsibilities as a plan sponsor. Favia Group helps ensure proper adherence to fiduciary obligations providing meeting minutes, an investment policy statement, and will always remind you when annual notifications need distributing.

Investment Management. We coordinate the entire investment process, and provide proper documentation and ongoing monitoring. Any specific actions to be taken will be brought to your attention by our team.

Employee Education and Communication. Not only is it important to give your employees the tools towards a successful retirement, but to educate them on how best to use those tools. Your plan participants have access to our staff for any questions and concerns. To help your employees understand their plan, we’ll conduct group education meetings as well as individual employee meetings.

It is essential to be aware of your options and make well-informed decisions as a plan sponsor. With Favia Group, we’ll help you design a plan to help maximize achievement of your business and/or personal retirement goals. Contact us today for more information on qualified plans.