No two 401k plans are exactly alike. Therefore, no two plans should be forced into the same plan design. Some 401k plans are focused on the lowest cost burden to the sponsoring company while others are focused on the lowest cost burden to the participants. Still other plans seek to allow the owners of the business to maximize personal contributions and investment flexibility while taking on varying degrees of fiduciary responsibility.
Therefore, BlueSkye’s 401k plan design process starts with a goals and objectives assessment and ends with a plan design and investment policy statement (“IPS”) tailored to your specific company needs.
Bundled, or so called “turn key” 401k plans, often fall well short in the design and planning process. Additionally, the bundled solutions can increase liability to the sponsor by giving a false sense of shared responsibility. BlueSkye 401k plans solve this problem by offering the cost of competitiveness of “bundled” 401k solutions with open architecture. Plans are customized around each client’s unique needs.