Defining the New Retirement Plan
401(k) plans have become the sole retirement savings vehicle for millions of Americans. 401(k) plans can be a powerful tool in promoting financial security in retirement. They are a valuable option for businesses considering a retirement plan, providing benefits to employees and their employers.
The Islamorada Investment Management 401(k) Plan enables companies to deliver a truly valuable benefit to their employees – helping participants achieve their retirement goals – while reducing costs and time spent managing the plan.
Employers, or “plan sponsors,” start a 401(k) plan for many reasons…
- A well-designed 401(k) plan can help attract and keep talented employees.
- Save time and money while giving employees the retirement plan they want.
- Offer participants diversified asset allocation models based on their specific needs.
- Enjoy an easy transition from your existing plan
- Assist in complying with current and new regulations while helping manage your liability.
We are an independent, fee-only firm, which means we have no conflicts of interest and have taken a fiduciary oath.
We provide full transparency into what we are doing with your money, and why, and attempt to educate our investors as much as possible about the investments we all own.
Our fees are low and based on how well we do our job, which is to find the best possible investments we can to include in your portfolios.
Benefits for Employers
The Simple Solution
The Islamorada Investment Management 401(k) Plan lets you outsource your company’s administrative chores, reducing your administrative burden and paperwork.
Our compensation is strictly limited to a one-time set-up fee and one annual management fee*, which includes our advisory services as well as all plan record-keeping, administration and investment management expenses. Our tiered fee schedule automatically lowers your fee rate as your plan’s assets grow.
Help reduce your liability.
From assisting in creating, reviewing or rewriting your Investment Policy Statement to conducting periodic reviews to assist in complying with current and new regulations, Islamorada Investment Management stays on top of all the regulatory and legal issues to help you manage your liability. As a Registered Investment Advisor, our advice is always to be in your and your employees’ best interests.
Even with the best intentions, mistakes in operating and administering a 401(k) plan can happen. Because of the complexity of both establishing and operating a new 401(k) plan, as well as the fiduciary and administrative responsibilities that being a plan sponsor entails, Islamorada Investment Management highly recommends a turnkey, outsourced approach to have specialized experts take care of most aspects of operating the plan.
When choosing the IIM 401(k) Plan for your business, you’ll enjoy ease and convenience you never thought possible –
whether starting a brand new plan, or easily transitioning from an existing plan.
- Design your plan
- Prepare all necessary documents for you
- Review key features of the plan with your staff
- Mail notifications to employees
- Open and administer accounts
- Transfer assets and employee data
We’ll handle all account-related record-keeping and ongoing monitoring by:
- Sending quarterly statements to plan participants
- Tracking company contributions and legal documentation
- Handling IRS-required ADP/ACP tests
- Preparing the annual IRS Form 5500
- Executing asset reviews
- Conducting compliance review of TPAs
401(k) plans that lack these features may create liabilities for employers and could cost employees money.
* Services covered by this fee include record-keeping and custodial access, annual administration and advisory services. Additional fees apply for participant loans or distributions, additional payroll sources, postage, additional employer consulting, record-keeping and termination/deconversion services above and beyond what is included in the plan.