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Plan Design and Document Services


We provide highly individualized services in our approach to designing or restructuring a benefit plan. Information on your work force and economic situation is gathered and analyzed. Next, your optimum goals are explored. We then creatively structure the program to best fit your objectives and to allow for future flexibility.


After finalizing the design, we will prepare your plan documents for review by your legal counsel. Our legal department maintains up-to-date versions of all types of plans in the following formats:

  • Preapproved plans (Volume Submitter)
  • Individually designed plans

As appropriate, we will also prepare government filings, including securing approval from the Internal Revenue Service on the initial qualification of the plan. 

Participant communications are important for successful benefit plans. We draft summary plan descriptions, enrollment documents and required participant notifications for clear understanding. We also hold enrollment meetings, when desired, to explain the concept and benefits of the plan.

Plan Types

There are many different plan types available.  We will assist you in determining which one provides the best overall value to you.

Profit sharing plan:  A profit sharing plan is a type of qualified retirement plan that allows the employer to contribute discretionary contributions to participants based on a formula described in the plan documents. This formula determines how the contributions are divided among participants and the contributions are made to a separate account for each employee. [top]

401(k) plan:  401(k) is a feature of a profit sharing plan that permits participants to contribute a portion of their pay to their individual account. Based on the plan terms, 401(k) can be pre-tax or after-tax (Roth). [top]

403(b) plan:  A 403(b) plan may be offered by certain 501(c)(3) tax-exempt organizations and public schools. Participants save for retirement by contributing a portion of their pay to their individual account and the employer is also able to contribute to participants’ accounts. This type of plan is also referred to as a tax-sheltered annuity or TSA plan. [top]

Employee stock ownership plan:  An employee stock ownership plan (ESOP) is designed to invest primarily in qualifying employer securities. [top]

Money purchase pension plan:  A money purchase plan has required contributions. The employer must make a contribution to the plan each year for the plan participants. The plan documents must state the contribution percentage that is required and how the amount is to be allocated among participants. [top]

Defined benefit pension plan:  A defined benefit plan provides a fixed benefit for participants at retirement. [top]

Cash balance plan:  This is a type of defined benefit plan that appears to be an individual account plan. [top]

Nonqualified deferred compensation plan:  A nonqualified deferred compensation plan may be maintained for a select group of management and highly compensated employees. This type of plan allows the employer to provide benefits to these employees over the limits imposed under qualified plans. [top]

SEP-IRA:  A SEP (Simplified Employee Pension Plan) allows the employer to contribute to IRAs that are established for employees.[top]

SIMPLE-IRA:  A SIMPLE IRA (Savings Incentive Match PLan for Employees) can be established by an employer with 100 or fewer employees. The employer must contribute the amount required by the plan document and employees are also permitted to defer part of their pay under this type of plan. [top]

Cafeteria plan:  A cafeteria plan must meet the specific requirements of section 125 of the Internal Revenue Code. It provides participants with an opportunity to receive certain benefits on a pre-tax basis. These benefits may include, but are not limited to, health insurance, dental insurance, vision insurance, flexible spending accounts for dependent care and medical care and health savings accounts.[top]

Not FDIC Insured Not Bank Guaranteed May Lose Value
Not Guaranteed by any Government Agency Not a Bank Deposit
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