Maximize Retirement Benefits with a 401k Plan
Higher contribution limits. Flexible options.
Complete support for businesses and employees.
401k Excellence: Superior Plans for Businesses and Employees
Byrne Asset Management has partnered with ADP and Schwab to present a 401k Plan with minimal cost, seamless data flow, and a platform that maximizes the financial wellness of employees and employers.
If you are considering a 401k and comparing it to other employer plans, you will find that 401k plans offer employers much choice in terms of benefit structure. Employers are not required to make any contributions, but if they do, they must conform to certain standards of fairness.
Our approach focuses on comprehensive financial counsel, superior investment selections, lower costs, and administrative ease – delivering value to both businesses and their employees.
Who Is This For?
Growing Businesses
Looking to attract and retain talent with competitive retirement benefits.
HR Teams
Seeking streamlined administration and enhanced employee satisfaction.
Employees
Wanting personalized financial guidance and better investment options.
Comprehensive 401k Solutions
Superior Employee Support
Traditional 401k platforms offer little personalized support or guidance. In many cases, the extent of employee support is an annual visit by a sales rep pushing high-fee mutual funds and annuities.
We offer a different approach—one that puts the financial well-being of your employees front and center.
- Direct Access to Portfolio Managers: Your plan participants will have direct access to our team of experienced portfolio managers for guidance on risk assessment, asset allocation, and fund selection.
- Guidance on External Assets: Free guidance on assets your employees hold outside your retirement plan, providing a more comprehensive financial picture.
- Comprehensive Financial Planning: Free access to Certified Financial Planning (CFP®) professionals who can assist with a wide range of financial matters.
Superior Investment Selections
Many 401k platforms limit investment choices to high fee, often poor-performing, mutual funds presented by major brokerage firms and insurance companies. Some plans use share classes that hide charges via inflated fund expenses.
We’ve designed a 401k investment platform with one goal: maximizing the wealth of all employees.
- Low-Cost, No-Load Index Funds: Our platform offers a wide range of low-cost, no-load index mutual funds providing diversified exposure to markets and sectors.
- Model Portfolios: Six model portfolios with allocations appropriate for different risk profiles, from very conservative to very aggressive, with automatic rebalancing.
- Brokerage Account Option: For employees who prefer individual stocks and bonds, our plans include a brokerage account option that can be self-managed or professionally managed.
Cost-Effective Plans
The 401k plans we serve prioritize effectiveness and cost-minimization. Our total plan costs, including administration, advisory, and fund expenses, are approximately one-third of the national average.
Many 401k providers hide high sales and overhead costs in expensive funds and insurance products. Our transparent approach eliminates these hidden costs.
- Transparent Fees: We do not hide costs in bloated fund expenses or fee sharing agreements.
- Zero Commissions: We do not receive commissions from any products we recommend. Our funds are completely devoid of sales or distribution charges.
- Low-Cost Funds: We populate platforms with low-cost funds exclusively, improving long-term returns for participants.
- Bundled Services: ADP can serve as both record keeper and TPA, creating additional cost savings and seamless information flow.
Administrative Simplicity
While participants reap better retirement prospects, HR departments and management will appreciate the administrative ease our plans entail.
Our partnership with ADP creates a streamlined experience from payroll to investment management, reducing administrative burden.
- Seamless Payroll Data Feed: Instant integration of your payroll into the plan with our ADP partnership.
- Automatic Form Generation: All plan documents, including IRS Forms 1099 and 5500, are automatically prepared with timely reminders.
- Compliance Fulfillment: Constant compliance with all regulatory requirements, including non-discrimination testing.
- 24/7 Web Access: Online platform for both participants and administrators to access accounts and management tools.
- Complete Support: Phone and email support from both ADP and Byrne Asset Management for any questions or issues.
Why Choose Byrne Asset Management
Fiduciary-Only Advice
We act solely in your best interest, providing transparent, conflict-free guidance for both employers and employees.
Advanced 401k Expertise
Our specialized knowledge of 401k regulations and investment strategies helps maximize benefits while minimizing compliance risks.
Technology Integration
Our partnerships with ADP and Schwab allow for seamless payroll integration, reducing administrative burdens and improving accuracy.
Frequently Asked Questions
What are the main advantages of a 401k plan compared to other retirement options?
401k plans offer significantly higher contribution limits than alternatives like SEP IRAs or SIMPLE IRAs, making them ideal for businesses that want to maximize tax-advantaged retirement savings. They also provide more flexibility in plan design, including options for employer matching, profit sharing, and vesting schedules. Additionally, 401k plans can include features like participant loans and hardship withdrawals that aren’t available with other retirement vehicles.
Are employers required to match employee contributions?
No, employers are not required to match employee contributions in a traditional 401k plan. Employer contributions are optional, giving businesses flexibility to design a plan that fits their budget and goals. However, if the plan is set up as a Safe Harbor 401k, certain employer contributions are required to bypass non-discrimination testing. We can help you determine the most advantageous contribution structure for your specific business needs.
How does your partnership with ADP and Schwab benefit my business?
Our strategic partnership combines ADP’s industry-leading payroll and record-keeping services with Schwab’s robust investment platform, creating a seamless experience for both employers and employees. This integration streamlines administration by automating data flow between payroll and the 401k plan, reducing errors and saving time. For employees, it provides access to institutional-class investment options at lower costs than typically available to individual investors.
What ongoing support do you provide after the 401k plan is established?
We provide comprehensive, ongoing support including regular plan reviews, investment monitoring and adjustments, compliance assistance with regulatory requirements, and educational resources for participants. Our team is available to answer questions from both employers and employees, and we offer personalized financial planning services to help participants optimize their retirement strategy. We also stay current with regulatory changes to ensure your plan remains compliant with all applicable laws.
How do you ensure plan fees remain competitive?
We maintain transparency in all fee structures and regularly benchmark your plan against industry standards to ensure costs remain competitive. Our investment platform emphasizes low-cost index funds and institutional share classes that typically have lower expense ratios than retail investment options. We also negotiate with service providers on your behalf to secure favorable pricing. As fiduciaries, we’re legally obligated to act in your best interest, which includes vigilance regarding plan costs.
Ready to Optimize Your Business’s Retirement Benefits?
Our team can help you design and implement a 401k plan that maximizes benefits for both your business and employees while minimizing administrative burden.