401k Planning

You provide a 401k to your team because you know saving for retirement is important and you want to encourage individual saving habits, as well as providing a way to save for your own retirement.

No matter who you do business with, we encourage you to take a small amount of time to review your company-sponsored retirement plan during a no cost consultation with Woita & Associates.

You’ll leave the meeting with and understanding of:

  • How you are being charged for your current plan, how to uncover all fees, and what questions to ask your current provider to get a true picture of what you and your employees are paying in fees.
  • The types of investment products your plan utilizes and what limitations or conflicts of interest might be present. We will work with you to explain the options to help you make an informed review of your products.
  • What services are available for you and your team members in terms of overall financial advising. Woita & Associates works closely with clients to create individualized strategies for long-term success.

Beyond the fees, the products, and the services, employers like you often have questions about the Department of Labor Laws, Fiduciary Responsibilities, and other changes that affect your responsibilities. Our team is ready to answer your questions and share knowledge so you have the opportunity to make the most informed decisions for your situation.

Request a Consultation

Not quite ready for a consultation, but want to start investigating your current 401k employer sponsored retirement plan?

Here are some questions to ask and have answered:

  • Do you know how much your employees are paying to participate in your current 401k plan?
  • Does your plan lineup include low cost investment options?
  • Are you confident that your 401k plan utilizes the lowest expense investment options available?
  • Do you know if your 401K plan provider retains fees generated by the investments your employees are invested in?
  • Does your current 401k plan provider allow you to use investment options available through any provider without affecting the fees you pay?
  • How many employees participate in the 401k plan?
  • What is the total amount of assets invested?
  • Do you pay any expenses for the retirement account via direct billing or credit card?

Helping you work towards your goals is our sole objective at Woita & Associates. We believe that you can best do so when you are armed with knowledge and information so you have a clear understanding of your options.

Click Here to receive more tips on managing your company retirement plan.

More about Woita & Associates 401K Services for Employers

There are three main areas in which Woita & Associates helps area employers with their 401k plans:

  • Fees-Over time even a small difference in fees can have a significant impact. Woita & Associates offers transparent pricing and very competitive fees and will be glad to provide a quote or a comparison for you when you provide your existing plan information.
  • Investment Products-We work with 401k platforms and providers which offer access to a universe of low cost investment options regardless of your plan size. You can choose a wide variety of investment families and choose nearly any type of investment option.
  • Service-Your support system and reference people are located across town at the Woita & Associates office, not across the globe or across the country. We get to know you and your plan participants and help tailor investment strategies to each individual need. We want to have a positive long-term direct impact on your team.

Another question that comes up given recent Department of Labor and ERISA regulations is the Fiduciary Responsibility employers have. A fiduciary has important responsibilities. The fiduciary must act solely in the interest of plan participants and their beneficiaries, act prudently, follow plan documents, diversify the investments, and pay only reasonable plan expenses. Woita & Associates can act as an investment fiduciary for you. We provide educational services to participants, participant enrollment assistance, plan vendor analysis, benchmarking services, assistance identifying plan fees, investment policy statement assistance, ongoing investment recommendations, ongoing investment monitoring, qualified default investment alternative assistance, advisor driven models, and performance reports necessary to help address your fiduciary responsibilities.

“Woita & Associates can act as an investment fiduciary of your company retirement plan and be a strategic partner in your plan’s success!”

This information is not intended as authoritative guidance or tax or legal advice. You should consult your attorney or tax advisor for guidance on your specific situation.

How is Woita & Associates compensated?

Woita & Associates is compensated for consulting services by recurring transparent client fees.

Inspirational Quote

The IRS allows you to deposit up to $5,500 per year to your IRA if you're under the age of 50 and $6,500 per year if you're over 50.

Source: https://www.irs.gov/Retirement-Plans/Plan-Participant,-Employee/Retirement-Topics-IRA-Contribution-Limits

- IRS