For growing South Carolina employers ready to add a retirement plan — without inheriting someone else's template.
There is no single right size. But a few patterns suggest a plan is worth exploring:
Before choosing a provider, we get clear on what the plan is supposed to do for the business. The answer changes the design.
Choosing the recordkeeper is one decision. Getting the whole stack — recordkeeper, TPA, custodian, payroll integration — to work as a unit is the real work. We evaluate providers against your census, payroll platform, expected growth, and the way you want employees to experience the plan.
Bundled and unbundled arrangements each have trade-offs. Bundled is simpler and often cheaper below a certain plan size. Unbundled gives more flexibility for complex plan design. Neither is universally better — the right answer depends on the plan.
The match formula shapes participation more than almost any other design choice. Common structures include Safe Harbor match, Safe Harbor non-elective, and discretionary match with an ADP/ACP test. Each has cash-flow, testing, and retention implications.
Vesting schedules (immediate, cliff, graded) balance employee retention against the goodwill of employees who leave early.
For plans established after December 29, 2022, SECURE Act 2.0 generally requires automatic enrollment starting in 2025 — with important exceptions for small and new businesses. Auto-enrollment materially raises participation and is worth designing intentionally, not defaulting to.
Both Roth and pretax deferrals should be available. Employee education helps participants pick the right one for their tax situation.
Payroll integration is where most plan errors start. We coordinate with your payroll provider on file feeds, deferral change handling, loan repayments, and termination handling from day one — not after the first correction.
SECURE Act 2.0 expanded the tax credits available to eligible small employers starting a new plan. Depending on employee count and other factors, credits may cover startup administrative costs and a portion of employer contributions in the plan’s early years.
The credit math is meaningful, but eligibility rules are specific. We coordinate with your CPA to confirm what actually applies to your business.
Tax credits described are subject to eligibility rules and may change. This site does not provide tax or legal advice. Consult your tax advisor.
A new plan lands with employees the way you introduce it. We build an employee communication plan (email, meetings, one-on-one office hours) that treats employees like adults making a real financial decision — because they are.
After launch, the plan needs the same rhythms an existing plan needs — quarterly investment review, annual plan review, employee education on a set schedule, audit prep, fiduciary support.
Goals, census, payroll platform, budget. Confirm the plan is a fit.
Match, vesting, Safe Harbor election, auto-enrollment, eligibility. Draft plan document with the TPA.
Evaluate recordkeeper/TPA options against your specifics. Written comparison.
Contracts, plan document adoption, payroll file setup, portal access.
Communication, enrollment meetings, one-on-one office hours.
Quarterly investment reviews, first annual plan review, tax-credit filing coordination with your CPA.
Ninety days is a reasonable working assumption, though faster is possible. Payroll integration setup and TPA plan document drafting are the two most common gating items.
Ongoing costs include recordkeeper/TPA fees (paid by the plan or the employer depending on the arrangement), advisor fees, and any employer contributions. All fees are disclosed in writing before the plan is established.
The employee deferral limit is set by the IRS annually. Total contribution limits (including employer match/profit-sharing) are higher and vary by plan design. Age-50 catch-up is also available.
Not required, but common. Safe Harbor plans require a specific match or non-elective contribution formula in exchange for exemption from certain nondiscrimination tests.
Send the basics below. Austin will follow up within one business day to schedule a thirty-minute intro conversation. An introductory conversation does not create an advisory relationship.