Qualified Retirement Plans and IRAs
Qualified retirement plans (QRPs) and IRAs offer both short and long-term wealth accumulation benefits. OJM Group has reviewed or implemented qualified plan designs for numerous companies and professional practices throughout the country and we are well-versed in profit-sharing plans, 401(k)s, traditional pension and defined benefit plans, and all types of IRAs.
OJM can serve as a co-fiduciary for a QRP and remains independent of the plan’s third-party administrator (TPA) and recordkeeper.
Our team offers a complimentary QRP analysis through an independent benchmark study, providing a fundamental first step toward prudent QRP management and peace of mind for employers. The audit can alert business owners and plan administrators to issues within their QRPs, including:
- Overpayment of fees for recordkeeping, third-party administration and/or investment advisory services.
- Potential conflicts of interest between your TPA and in-house investment advisor.
- A fund lineup that is too expensive or lacks flexible options for participants.
- Absence of a co-fiduciary to share potential liability for plan management and performance.