Blue Ocean has been managing 401(k) plans for local small businesses for over 15 years. With our partners, we provide the full range of services you need to put a retirement plan in your business that will make economic sense for you the owner and future success for your employees in reaching their retirement goals.
All of the following services are all fee only.
- Meeting with the owner or owners to explore and then choose which retirement plan is the best fit for you and your company. Not every 401(k) plan is the same. We can help you design a plan that fits you and your company to maximize benefits to participants and minimize the costs to you.
- Preparing an ERISA approved plan document. There are many features a plan can include and, while customized to you, needs the approval of the oversight body for retirement plans, ERISA. We get that approval for you.
- Designing and implementing the right investment funds for employees to choose from initial enrollment meetings. 401(k) plans offer investment choices for participants to choose the investment mix that fits them individually. We have researched the best funds to use in 401(k) plans that are consistent performers in their investment category and offer downside protection.
- Ongoing 6-month interval group and individual education meetings at your place of business. Part of your Fiduciary duty as a plan sponsor is to educate your employees on the need for retirement savings and the investment choices offered in the plan. We handle the education requirement for you on a semi-annual basis so you can spend your time at what you do best; running your business.
- All testing, reporting and filing requirement. ERISA has rules to make sure your employees are being treated fairly. We handle the testing and filings required and also the reporting to each participant of their individual account balances and performance.