Reviewing an Existing Plan

If your client already sponsors a retirement plan, it’s a smart idea to periodically review the plan design. In our experience, this process sometimes reveals opportunities to improve the existing plan or even take a fresh look at alternative programs.

At P&A Group, we’re here to give you independent, honest, sound advice. We won’t advise a new plan unless it’s absolutely beneficial. We'll help you determine whether your current plan is aligned with your client’s goals or if it could benefit by adopting new or different plan design features. Areas we’ll cover together include:

  • Assessing your current plan and its key features
  • Assessing your overall plan adequacy compared to employee income needs.
  • Reviewing your current plan documents.
  • Reviewing your government filings.
  • Reviewing your compliance test results.
  • Reviewing your administrative procedures.
  • Evaluating your current administrative arrangement and associated costs.

In other words, we’ll roll up our sleeves and wade through the myriad of filings and procedural documents to determine your position. We can even simulate an IRS audit of your plan to uncover any compliance issues. It’s not pretty, but it does show how serious we are about finding the best solution you, your client, and their employees.

To learn more about how we can review your client’s existing retirement plan design, request a proposal to discuss your needs.