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Retirement Plans

Gibborim Financial works with all types of employer sponsored retirement plans or efforts, including defined contribution/benefit plans, SIMPLE or SEP individual retirement accounts (IRAs), non-qualified plans, and unconventional but regularly utilized strategies.

Some of the more frequent questions Gibborim Financial helps business owners or municipalities address include:

Client Centered
  1. Do we have the right type of retirement plan? How competitive are choices and fees?

  2. How well is a sponsor meeting its fiduciary requirements under ERISA or other federal law?

  3. Is it possible to better support participants with education and support without increasing fees?

  4. Should more money be used to grow the business, paydown debt, or save more?

  5. Can personal and business providers be consolidated without losing quality, competitiveness, and access?

  6. Is it riskier to have all investments with a single Advisor instead of with two, three, or more?

  7. How does our plan compare with peers?

  8. We like our current custodian they do not have local Advisor support – is it possible to obtain Advisor support (or change Advisor’s if service expectations are not being met)?
What should you do with your 401(k)?

What should you do with your 401(k)?

Every time you change jobs, you have some decisions to make about your old 401(k). In this ebook, we outline your four choices and explain the considerations of each.

Every business or municipality has a unique story and reflects the values, character, and aspirations of the owner(s)/founder(s)/residents. As a result, many of the solutions provided are customized to that organization and can be integrated with individual needs based on a number of factors relating to the owner(s)/founder(s)/residents.

However, categorically, there are broad themes that tend to recur when it comes to strategies and solutions utilized. Below are some representative examples of each.

Common Strategies Used

  • Defined Contribution Plans
  • Defined Benefit Plans
  • Executive Compensation Plans
  • Permitted Asset Valuation Discounting
  • Gifting and Charitable Planning
  • Installment Sale Planning
  • Focused Asset Protection Methodologies
  • Systems and Operations Improvement
  • Six Sigma, Lean, and Theory of Constraints
  • Business Financial Planning & Analysis

Representative Solutions Used

  • 401K, 403B, TSA plans
  • Family LLPs, Family LLCs, S-Corps, Series LLCs, Revocable Trusts, Irrevocable Trusts
  • Financial Consulting – Financial Analysis
  • Financial Consulting – Financial Management
  • Financial Consulting – Business Succession
  • Exchange Traded Funds, bonds
  • Brokerage accounts, Managed accounts
  • Private Placement Offerings
  • Real Estate Analysis

EXAMPLE: Retirement Plan Investment Management

Result: Increased participant amount and participation rate to retirement plan

Problem: Relatively limited investment selection and average employee participation

  • Defined contribution plan with one mutual fund family offering multiple fund options
  • Many employees highly skilled- self manage or use advisor and not excited about options
  • No other options to save additional funds or garner more benefits after maximizing 401K contribution
  • Mid-level and below employees did not get much decision making, fund selection, or contribution support, and did not have a high level of participation or enthusiasm for the plan

Solution: Change investment manager, add defined benefit plan, and include self-directed brokerage account option to plan

  • Spent time creating a new, robust, and current investment policy statement
  • Evaluated cost benefit options of adding a defined benefit plan and other executive plans
  • Evaluated defined contribution plan options, features, and providers
  • Amended the current 401K plan document to include self-directed brokerage accounts as options and a new profit-sharing component
  • Evaluated and changed providers to include best of class funds, index funds, and a self-directed brokerage account (for those who managed their own investments or had an advisor)
  • Added a defined benefit plan, and a section 79 executive compensation plan
  • Overall, increased investment options, amount contributed, and maintained approximate prior plan expenses

Questions?

If you have any questions or would like to explore potentially working together now or in the future, please contact Gibborim Financial at your convenience. Thank you.

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