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Why Monterey Wealth?

What makes Monterey Wealth different from other 401(k) plan specialists?

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401(k) Plans Present Unique Exposure to Plan Sponsors & Administrators

  • You have accepted fiduciary responsibility for all plan participants (includes current employees and former employees with plan balances)
  • According to ERISA, being a fiduciary means you must act in the best interest of plan participants
  • ERISA was passed by Congress in 1974 and governs employee benefit plans including retirement plans

Your fiduciary liability includes, but is not limited to, the following:

  • Excessive fees
  • Lack of investment choices
  • Poor investment performance
  • Failure to execute plan operations
  • Cyber-security risk

How can you reduce your risk?

  • Hire an advisor who can be a co-fiduciary and shares in the risks with you
  • Eliminate exposure to unnecessary risks such as terminated employees with plan balances
  • Proactively work to encourage terminated employees to get off the plan

How can Monterey Wealth help you?

  • Delay or avoid an audit by educating terminated employees with balances to roll off the plan
  • Reclaim unvested employer contributions in terminated employee accounts
  • Improve plan investment performance
  • Reduce plan expenses
  • Ensure plan operations are working efficiently
  • Improve employee outcomes
  • Reduce fiduciary and cyber-security risk