CBC Retirement
Comprehensive Benefit
Consultants
Comprehensive Retirement Plan Administrators supporting 401(k) and 403(b) Plan Design, Administration, Implementation, and Consultation
Why Offer a Retirement Plan
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Tax Optimization
Looking for a way to reduce your taxable business income using a 401(k) as a tax shelter but need to understand how much it will cost? Visit our tax strategies page where we review different methodologies of deferring income into a 401(k) Plan. We can even build a customized illustration for you!
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Hire & Retain Talent
Is a strong retirement benefit package key to hiring and retaining talented employees in your industry? We can help build a retirement plan that is competitive compared to similar companies and can help retain employees with tools such as vesting schedules. Contact us and we can help review options.
401(k) & 403(b) Consultatation & Administration
OUR role in YOUR 401(k)
A company sponsored retirement plan, widely recognized by its IRS code as a "401(k)" or a "403(b)", provides employers and employees with the ability to save money throughout their working careers and receive a tax benefit from federal & state tax agencies.
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401(k)'s and 403(b)'s are a combination of 3 Services​
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1) Your plan ADMINISTRATORS: This is the team that keeps your plan compliant with IRS rules and regulations. Our consultation includes understanding your goals for your retirement plan, offering advice & expertise on design options available to you, testing your plan to pass legal requirements, and completing your annual tax form 5500 for filing.
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2) Your plan ADVISOR: Traditionally responsible for choosing the investment funds that are available in your retirement plan, your advisor can help review plan expenses & options as well as help employees make education choices.
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3)Your plan RECORDKEEPER: Widely seen as the website & company that employees interact with on a day-to-day basis to make contribution and investment decisions.
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How we serve your retirement plan
Choose from various safeharbor plan design designations that fit within IRS matching parameters including QACA & EACA options or build your own plan with the guidance of our experts
Implement your Plan
Generate your 5500
Test your Plan
Each year your plan must pass ACP & ADP Top-Heavy Testing to make sure it is compliant with IRS Rules. CBC is responsible for doing these tests, making sure your plan passes or any refunds are distributed to fulfill IRS guidelines, then entering this accounting on your tax form 5500.
Once a design is chosen, our team will generate and file your plan documents. These include your adoption agreements, basic plan document, summary plan description, and trust account agreement.
Every 401(k) and 403(b) plan must file an annual 5500. This tax form notifies the IRS of your plan participant count throughout the year and the flow of assets into your plan either from employee or employer contributions
The CBC Difference
At Comprehensive Benefit Consultants, we believe in a comprehensive and holistic approach to your Retirement Plan. While the design might help you attract & retain talent or decrease your tax liability, it is UNDERSTANDING how and why you choose one design over another that is optimized for your business as it exists today. Our annual consultative reviews keep this plan design optimized for your business as it grows, develops, and expands. Additionally we understand that your retirement plan does not exist as a standalone system. It relies on other systems functioning such as your payroll and HR. At CBC, we don't stop at plan design, we ask you who does your payroll, how can we help streamline the administrative process, and what can WE do to make YOUR retirement plan a comprehensive retirement solution for you, your employees, and your business.