Customized 401 (k) Plans

Just as your company hires an architect to help design a functional workplace, it also needs a qualified financial advisor to help design a confident retirement plan.

At Baumoel & Goodman, we have the experience and the resources to help your company design an effective retirement plan.  Our process is designed to shoulder much of the labor intensive work of implementing and maintaining a retirement plan so you can focus on what you do best, running your business. 

We focus on three critical areas:

1. Plan design. Our process includes an analysis of plan designs and their effect on employee participation and deferrals.

2. Investment and Participant Behavior.  Plan sponsors often lack expertise in investment analysis.  We help our clients fulfill their fiduciary responsibility of providing an appropriate range of investments for participants long-term savings needs.

3. Plan Oversight.  We help plan sponsors manage fiduciary risk by identifying areas of potential concern and making suggestions that help manage fiduciary liability.


I           We begin by conducting a thorough review and benchmarking of your existing plan.  This review includes:

  • An analysis of your current plan design, including its fees and expenses, with focus on uncovering any "hidden" costs of the plan.
  • A comparison of your current plan against plans of similar size and in similar industries.
  • A review of your plan investment options, benchmarking them against their peer group.
  • A review of your investment policy statement to verify that it corresponds with your plans actual investment options.
  • A review of your participant education program to ensure that it meets ERISA regulations.
  • A Review of your plan's participation rates and analysis of participant behavior.

II.    We then prepare a written report noting:

  • Any deficiencies that put the plan sponsor fiduciaries at risk from a Department of Labor regulatory compliance standpoint.
  • A breakdown of the actual fees and expenses being incurred by the plan or its participants.  

 III.   We then make recommendations that will:

  • Bring your plan in to compliance with Department of Labor regulations fulfilling your fiduciary responsibilities.
  • Disclose opportunities to make the plan more efficient with its fees and expenses while fulfilling coming requirements of fee transparency.  

IV.   Next we will work with the plan sponsor to implement recommendations to make the plan as cost effective as possible while assuring it is in compliance with all regulations.

V   We will work with the company HR department to develop and implement an appropriate employee education program.  As part of this program, we will be available on-site and through tele-conferences to conduct group meetings and when requested individual one-on-one employee sessions.

VI   On-going support includes:

  • Quarterly participant meetings for new hires as well as existing participants who request indivual sessions.
  • If requested, quarterly meetings with plan investment committee.
  • Annual review of investment portfolio to evaluate goals and to recommend changes.
  • Monthly Newsletter provided electronically to plan sponsor reviewing market conditions and/or other items of interest. 

    Fiduciary Responsibilities                  Fees and Expenses