As a busy working professional, you know how valuable of a resource time is. As someone who works to help other people save money, you also know time is money. What if there was a way to not only save your clients time, but also help save them money? When it comes to welfare and retirement plan planning, outsourcing your company’s 401(k) plan management can do both. Keep reading to find out how 401(k) plan management can help save your clients time and money.
Employees can better spend their work hours elsewhere
Planning, designing, and reviewing your company’s 401(k) plan can be difficult to understand and time consuming. Putting this task on an employee’s plate can leave them feeling frustrated and experiencing burnout. Their time is much more valuable spent working on the relevant tasks they excel at.
The cost of salaries
Time isn’t the only expense when you delegate 401(k) plan management to your employees. The salary each employee is paid is also a factor to consider when considering the time and effort it takes to properly design and review welfare and retirement plans.
Outsourcing plan management to specialized professionals
If an internal employee isn’t given the task of managing your company’s 401(k) plan, perhaps you outsource it to your CFO or other consulting position. Chances are you pay a hefty, hourly consulting fee for these services. When outsourcing your 401(k) plan management to specialized professionals, the same task gets done in a shorter amount of time (time is literal money in this example!). Not only do you help save your clients time and money, but you provide peace of mind that their plan is done correctly and is compliant with all regulations.
If you’re looking to help save your clients time and money, all while providing them peace of mind – consider Noble Davis. Noble Davis is a team of 20+ experienced retirement plan compliance specialists dedicated to making retirement plans smart, simple, and worry-free. They have over 31 years of experience in plan design & consulting, retirement plan services, and welfare plan services. Get a free proposal for your company here or call us toll free at 1-888-657-0702.