Employer Retirement Plans

The type of plan you choose depends on your company and your employees' specific needs. Most often, organizations will have a 401(k) plan or a Savings Incentive Match Plan for Employees Individual Retirement Account, also known as SIMPLE IRA. 

While a retirement savings plan is beneficial to employees, employers can also benefit from it in a few ways:

• Attract and retain talent
• Tax credits for a new plan and/or a new automatic enrollment feature
• Employer contributions may be deductible (to the extent that they do not exceed limitations described in section 404 of the Internal Revenue Code)
• Potential tax deductions for paying 401(k) plan-related expenses
• Elective deferrals and investment gains are tax-deferred until distribution

Marsh McLennan Agency recognizes every business is different. Our team of specialists can help you establish a plan that fits your business’s specific retirement benefits needs. We’ll work alongside you to design a plan that provides meaningful options for your employees and offers you direct access to ongoing support.

Our services will allow you to leverage industry expertise, insights, and analytics. With in-house counsel specializing in laws governing eligible employee benefits plans, you’ll have access to the latest regulatory information and support to help ensure plan compliance. You'll be confident knowing we are committed to mitigating your fiduciary risk and improving participant outcomes for the life of your plan.

Our consulting services include:

• Employee communication
• Fiduciary process
• Financial well-being assistance
• Proprietary investment monitoring
• Risk mitigation

To establish a 401(k) plan for your company, follow these instructions:

1. Consider hiring a Marsh McLennan Agency advisor to help you understand the complex requirements associated with operating a workplace retirement plan.
2. Partner with a Third Party Administrator to adopt a written plan document that will govern how your plan is operated.
3. Get together with your plan fiduciaries to select a recordkeeper and asset custodian with the expertise, technology, and experience to deliver best-in-class services.
4. Work with your plan service providers to effectively communicate the company’s workplace retirement plan benefits to your employees.