Retirement plan design involves crafting a structured framework for employer-sponsored retirement plans, such as 401(k)s, pension plans, or cash balance plans, to meet the needs of both employers and employees. Strategic plan design allows businesses to optimize contributions, vesting schedules, and investment options to support employees in building a secure financial future while aligning with the company’s goals.
Employee education in retirement plans is crucial as it equips individuals with the knowledge and tools to make well-informed decisions about their financial future. Informed employees are better equipped to take full advantage of their retirement benefits, ensuring a more secure and comfortable retirement while also reducing the administrative burden on employers.