Business Services

There are many different retirement plans and options available to you and your employees. To help cut through the clutter, we’re always on hand to meet with you and your staff to discuss the various defined contribution plans available, their pros and cons, and what might work best for you and your business. We offer services for Defined Contribution (401(k), 403, 457) to Defined Benefit (Cash Balance) plans.

For these plans, we also offer services including:

• Providing ongoing 3(21) fiduciary advisory services
• Meeting annually with the trustee to review the plan
• Investment policies and objectives
• Preparation of investment policy statement
• Investment recommendations and monitoring
• Selection of qualified default investment alternative
• Education services to fiduciary committee
• Reviewing performance reports
• Monitoring fees
• Participant education services
• Service provider recommendations

With financial literacy at an all-time low, we stand ready to work one-on-one with your employees, helping them understand the importance of saving for retirement or potential catastrophes. We also are happy to discuss other financial issues, like budgeting and the difference between “good” and “bad” debt.

As we help participants understand their financial options, we also offer the following services.

• Meeting with any newly eligible participants to explain the plan, rollover options, and plan investments
• Reviewing distribution and plan options with any terminated participants
• Provide ongoing participant meetings to answer all questions they have about the plan and their portfolio
• Individual retirement analysis
• Tax saving strategies
• Personalized investment strategies
• Review previous employer retirement accounts
• Review rollover pros and cons

Consider all available options, which include remaining with your current retirement plan, rolling over into a new employer's plan or IRA, or cashing out the account value. When deciding between an employer-sponsored plan and IRA, there may be important differences to consider - such as range of investment options, fees and expenses, availability of services, and distribution rules (including differences in applicable taxes and penalties). Depending on your plan's investment options, in some cases, the investment management fees associated with your plan's investment options may be lower than similar investment options offered outside the plan.

It seems as though more lawsuits are filed against companies, claiming a breach of fiduciary duties in connection with employee benefit plans under the Employee Retirement Income Security Act of 1974, or ERISA. We offer extensive fiduciary training to help your administrators and leadership understand ERISA compliance.

Comprehensive benefits can be very helpful when recruiting and retaining quality employees. Count on Pigott Financial professionals, and a broad product line of medical, dental, vision and other benefits, to build a desired and effective benefits package.