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Plan Design is a big deal

Chess is not a game that I ever played a lot or was ever good at it, but it’s a fascinating game because every move can change the course of the game.


I see sometimes plan design as similar to the game of chess because a good approach to it could increase the retirement savings and tax deductions for employers and individuals.


I’m still amazed at how many financial advisors, attorneys, and accountants, give short shrift to plan design, a third party administrator (TPA) is more important than just being a price point. They’re not a commodity, they are a service provider that can help employers say hundreds of thousands of dollars and even millions down the road by implementing a plan design or augmenting with a cash balance or defined benefit plan to help plan sponsors and participants to maximize retirement savings, which maximizes tax deductions.


Plan design is a big deal and hiring a good TPA that can do the job.

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