401(K)/Org Retirement Plans
401(K)/Org Retirement Plans
WhiteSpace Financial supports organizations with 401(k) and almost all other forms of employer-sponsored retirement plans. From plans for small and mid-size global firms to special opportunities for individuals with self-employment or other 1099-misc income, we can assess your current footprint and make recommendations to make the most of qualified and non-qualified plans. It is not enough to be experts on plan rules, we want to know what makes your footprint unique and find the right design for your company culture. We’ll help balance the needs of shareholders, key and highly compensated executives, and non-highly compensated employees in a way that is best for you. We're experienced at addressing challenges posed by Department of Labor Discrimination testing and can often help turn around failing plans and avoid future discrimination testing challenges.
SMALL AND MID-SIZE ORGANIZATIONS
We take a consultative approach and will act as a plan fiduciary, meaning we're like you, fully committed to plan success and regulatory compliance. Our role can be limited; we can consult on your plan, help establish it or transition it to a new vendor set, or review investment options and processes for best practice recommendations. Other plans' sponsors may want to work with WhiteSpace Financial as the plan financial advisor in a continuing engagement for both the organization decision makers as plan sponsor, and employees and team members as participants.
As Registered Investment Advisors, WhiteSpace Financial is “product agnostic” meaning we are not paid by anyone other than you. And we're completely flexible about who “you” are, too, often helping organizations decide whether costs should be borne by the company, the employees, or some of both. Regardless of how costs are paid, we work to make them transparent and as low as reasonable, given the needs of the company and the plan participants. In addition to our consultations with company decision makers, once WhiteSpace is engaged, we provide employees with electronic communications, online account access, and call-center support. Best of all, employees will receive significant one-on-one time with a WhiteSpace financial planner, who will help them make the decisions that will give them the best personal success with the plan.
You don’t have to be entirely self-employed to benefit from applying qualified plan rules to the benefit of you as an individual or small group (e.g. physicians’ group plan). Outside directors of publicly traded companies, for example, often receive their director’s compensation in the form of 1099-misc income, but fail to consider if there are ways to defer taxation on the income. Whatever your source of self-employment income, “everything counts” at WhiteSpace Financial and you can feel confident your opportunity costs of not knowing what is possible will be reduced. Welcome to our WhiteSpace.