Providing Insightful Retirement Planning

401(k)Fit Solo

401(k)/New Comparability Profit Sharing Plan Contribution

For the Plan Year 1/1/2021 through 12/31/2021

401kfit-solo

Roles & Responsibilities

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Plan Sponsor– The employer decides to establish a plan and selects plan design and vendors

Financial Advisor – Individual who will advise and otherwise assist the plan sponsor and plan fiduciaries in structuring retirement plan investments and in obtaining the types of products and services necessary for the plan’s operation.

Recordkeeper/Vendors – The plan’s investment platform which provides employers and employees access to plan information and the custodian of the plan’s assets. Often times the term “vendor” may be used for this role as well.

CPA/Auditor – A financial experts retained in order to minimize tax payable while remaining compliant with the law in various financial situations.

The Ryding Company (TPA) – A THIRD PARTY ADMINISTRATOR, also known as a TPA, works on 401(k), 403(b), Defined Benefit, and Cash Balance plans to achieve a Plan Sponsor’s qualified retirement plan objectives and goals.