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Retirement Plan Advisors for Business Owners - Brookfield, WI

Companies in the Milwaukee area tend to adopt qualified retirement plans for three major reasons: to help provide retirement security for the principals and employees of the business, to create business tax deductions, and to attract and keep good employees.

With more than 30 variations of qualified retirement plans available to private businesses today, finding the right plan to meet your company’s needs can be a daunting task. This is where BKM Wealth Management can help.

We have a fact-finding and goal-setting process that helps business owners and management teams articulate the appropriate goals and needs of their retirement plan. From there we can provide companies with:

  • Retirement Plan Design Services – Determining the right type of plan to help meet the company’s goals.
  • Search and Selection – Searching the marketplace for the most suitable and cost-effective way to implement the plan.
  • Investment Research, Recommendation & Monitoring [acting as a section 3(21) fiduciary as defined by the Employee Retirement Income Security Act]
  • Performance Reporting
  • Retirement Plan Fiduciary Meeting Support
  • Benchmarking – Comparing the retirement plan’s costs and service levels with its peer group.
  • Retirement Plan Participant Education – Onsite and remote meetings that educate retirement plan participants and help them become retirement-ready.
  • Retirement Plan Reviews – Designed to ensure that your plan remains the most appropriate option for your business.

We work with nearly all major retirement plan providers. If your company already has a retirement plan in place, in most cases you can sign a single form and we take over as the Advisor on the plan. Please contact us to discuss your plan today.

Common Retirement & Corporate Benefit Plans In Wisconsin:

  • Simplified Employee Pension (SEP)
  • Savings Incentive Match Plan for Employees (SIMPLE)
  • Profit Sharing
  • Age-weighted/comparability profit sharing
  • 401(k) profit sharing
  • Safe-harbor 401(k)
  • Individual, owner-only, one-person, solo 401(k)
  • Defined benefit pension
  • Employee Stock Ownership Plan (ESOP)
  • Non-qualified deferred compensation
  • Executive bonus
  • Executive life insurance
  • Cash balance

We help Wisconsin business owners and executives select suitable option(s) for their companies. We’d be honored to be a resource for you. Please contact us to discuss your company’s retirement and benefit plans.

ERISA Section 404(c) - Why It's Important to Your Company's Plan

As a business owner with a retirement plan, and/or as a member of the management team you are probably considered a fiduciary. This means you have certain responsibilities including:

  • Acting solely in the interest of plan participants and their beneficiaries and with the exclusive purpose of providing benefits to them.
  • Carrying out your fiduciary duties prudently.
  • Following the plan documents (unless inconsistent with ERISA).
  • Diversifying plan investments.
  • Paying only reasonable plan expenses.

When your plan’s participants are allowed to choose from a menu of investment options and make their own investment decisions, complying with ERISA Section 404(c) can offer you an additional layer of protection. When a plan satisfies the requirements of ERISA Section 404(c), plan fiduciaries may receive protection from liability for losses resulting directly from participants’ investment decisions. Fiduciaries continue to be responsible for the prudent selection and monitoring of the plan’s investment options. However, there are some simple steps you can take (without the added expense) to comply with provision 404(c) and add a layer of protection for you as a fiduciary.

Please contact us for a complimentary, no-obligation review of your plan, your fiduciary responsibilities, and strategies to help protect you from liability.

Ready to get started?

Contact us to review your small business retirement plan today!

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