Retention Strategies to Maximize 401k Plans

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Attracting talented people in today’s job market is a challenging exercise, and key employee retention requires a thoughtful approach to corporate plan benefits. Aside from the traditional salary, there are many critical factors that help to build a comprehensive corporate benefits package. Today’s job market has seen a drastic overhaul in the necessity of work-from-home applications, and remote work is the tip of the iceberg for voluntary and fringe benefits. Voluntary benefits are additional advantages that companies use to attract and keep the best employees. A 401(k) plan is a hallmark benefit that employees pinpoint to set a business apart, and is a tax-advantaged vehicle for future financial health. Improving your company’s 401(k) plan might be the most impactful and cost-effective way of improving recruitment efforts and retention benefits. We support plan sponsors in understanding and addressing their fiduciary responsibilities to their plan, their employees, and their beneficiaries. The best part? Turning your 401(k) into a powerful recruiting and retention tool might be easier than you think.

Attract qualified employees with a strong and informed plan

Houghton Financial Partners will not only take the hassles off your desk, but we also strive to give you a plan aiming to control costs, streamline administration, and run an efficient, effective plan that prepares your employees for retirement. You’ll receive hands-on “boutique” service from an independent advisor backed by the scale, support, and industry clout earned by reliably serving the greater El Paso and Texas markets for decades. The goal is for everything to improve: service, employee participation, plan health, compliance. With our white-glove service standard, our team will provide seamless stewardship for your employees to get retirement-ready. We’ve spent over 45 years offering companies of all sizes the superior solutions and expertise they need to administer world-class retirement programs.

Crafting a retirement plan is a smart way to help level the professional playing field between your small business and larger companies. A good retirement plan can help you to retain valuable employees who want retirement options in their benefits package. In our experience, we’ve helped craft compelling retirement plan packages that have helped businesses to:

  • Attract talented people in today's challenging job market.
  • Retain valuable employees who want retirement options in their benefits package.
  • Enjoy tax advantages that may be available to you as an employer offering the plan.
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Effective Retirement Readiness

Defined contribution plans are recognized as the foundation of private retirement planning for the vast majority of working Americans. As an employer offering a defined contribution plan to your employees, you bear a fiduciary responsibility to ensure you are in compliance with constantly evolving regulatory guidelines under ERISA law. Equally important, you want to make sure you are providing the best suitable plan possible for your employees because they contribute sustained value leading to the success of the business.

401(k) plans are a powerful tool in promoting financial independence during retirement years. As a type of employer-sponsored retirement savings plan offered to employees of public or private for-profit companies, a 401(k)-qualified plan may offer a number of benefits to both employers and employees with their beneficiaries. A well-designed plan can help attract and retain talented staff, and provide employees the opportunity to accumulate a retirement nest egg. It can also provide tax benefits to both employers and plan participants: employers are typically allowed to receive a tax deduction for plan contributions, while employees may be able to defer paying taxes on a portion of their compensation until retirement.

Retirement plan design and implementation are some of the pillars on which Houghton Financial Partners was built. Being a great steward is not about checking a box. It’s about doing the right thing day in and day out for those who rely on you. We’re relentlessly focused on delivering value. Our goal is to provide the expertise so you can support your employees’ long-term goals and win the battle for talent.

 

Flexible Expertise and Planning Advantages

Houghton Financial Partners understands the importance of the commitment you have made on behalf of your employees. Our dedicated focus and depth of expertise in the corporate retirement plan field can help you design, select, and manage both your plan, investments and risk as plan fiduciaries, while simultaneously helping to ensure that you and your workforce are able to fully understand and maximize the potential of this very important benefit.

A lot has changed in the retirement plan space in the past couple of years. Have you kept up? Is your plan design optimized? How about fee structure? Investment choices? Participation rates? Your advisor work should hand in hand with you to help ensure all of the above align with your company’s retirement objectives. We help customize your goals around participation, deferrals, and asset allocation and provide real-time reporting to track your plan health over time. 

 

Since 1976 we have come to work every day to tackle some of the biggest challenges faced in financial services. How do we deliver the most exceptional products and services to our clients, manage our client’s costs and risks, without compromising our core values? We began with a mission to help plan sponsors and individual investors meet and exceed their retirement plan needs and obligations, and to do it with the utmost professionalism and uncompromising integrity. Houghton Financial Partners is an independent retirement plan consulting services firm that advises on plans representing the retirement aspirations of thousands of employees.

At Houghton Financial Partners, we start by listening to your goals and objectives, and then apply our unique process by building out your portfolio, directly overseeing every detail and then use our unique abilities, research-fueled strategies, drive your portfolio’s performance. With over 45 years of experience, we have established a fiduciary track record providing objective advice from your dedicated portfolio manager with complete independence to invest in your best interests. 

Let me help answer your financial futures questions.

Michael Houghton - Partner, Senior Consultant

Securities and Investment Advisory Services Offered Through M Holdings Securities, Inc., a Registered Broker/Dealer and Investment Adviser, Member FINRA/SIPC. Houghton Financial Partners is independently owned and operated. #3067489.1

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