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COVID-19 Update

Alliant Wealth Advisors is an "essential business" under Virginia state law and we remain fully operational during the COVID-19 crisis.

To keep our clients, staff and colleagues safe we are currently holding all meetings via video conferencing. And we are alternating a small number of staff in our office while the majority serve you from their home.

Speaking of our office. Our headquarters in Prince William will relocate to the Signal Hill Professional Center at 9161 Liberia Avenue, Suite 100, Manassas, VA 20110 effective Monday, April 20, 2020.

Whether we are virtual or in person, we are here for you. Please keep safe.

Best Regards,

John Frisch, CPA/PFS, CFP®, AIF®, PPC®

President

A Better
401(k) Solution

  401(k) and 403(b) Plans Made Simple  


Secure Retirement by Design

Alliant Qualified Plans provides a consultative process backed by an ultra-high level of service and state-of-the-art technology. Learn More

Better Plans

We offer better 401(k) and 403(b) plans to help retirement plan sponsors improve their employees’ ability to build toward retirement, reduce the potential personal liability of their plan fiduciaries, and simplify plan compliance and administration.

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Our Differentiators

Better Plan Investments

We access the low-fee funds offered by institutional money managers.

Better Participant Experience

Better funds along with our professional investment management, broad financial education and mobile account tools result in more engaged, better invested, better prepared employees.

Reduced Liability for Plan Sponsor Fiduciaries

We accept delegation – and liability – for investment selection and monitoring under ERISA 3(38).

 

TOP 9 COMMON MISTAKES OF PLAN SPONSORS

The most common mistakes made by well-meaning companies and business owners include a failure to:

  • 1. Establish and follow written investment policies and procedures

  • 2. Understand sponsor fiduciary duties and potential personal liability

  • 3. Apply innovative plan design strategies to achieve employer/employee goals

  • 4. Monitor and replace poor investment options

  • 5. Understand and evaluate plan fees

  • 6. Administer the plan correctly, monitor periodically

  • 7. Identify conflicts of interest

  • 8. Provide employees the retirement tools they need

  • 9. Take action

  • Let’s start the conversation.


Going the extra mile

avatar The retirement-plan business is a competitive one. We deliver an “above-and-beyond” level of service that we believe all businesses should demand.

Joe Walsh heads Alliant Qualified Plans. His passion is working with employers to design and manage innovative 401(k) and 403(b) plans that meet organizational goals and employee needs. Joe’s expertise as a professional retirement plan consultant is backed by 30 years’ experience with money center banks providing clients with 401(k), investment management, pension, custody, and trustee services. This combination makes him a uniquely qualified advocate and partner for Alliant’s clients.

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  • CONFLICT FREE | Your Fiduciary

    CONFLICT FREE | Your Fiduciary

    Objectivity is the hallmark of our services and advice – we’re conflict free today and we’ll continue to be so, just as we’ve always been. As a retirement plan sponsor, you need to have absolute confidence that your provider is impervious to the influences of third-party financial institutions.

  • PEOPLE | Commitment to You, Your Employees

    PEOPLE | Commitment to You, Your Employees

    The ability of many Americans to retire has been questioned by the news media and government leaders, as well as individuals. It is with those concerns in mind that Alliant has developed a slate of distinctive retirement plans, each with its own unique set of qualities.

  • OUR BEST | We Do Things Right

    OUR BEST | We Do Things Right

    Beginning with your goals, we help you strategically design both 401(k) and 403(b) plans to benefit your organization and your employees.

  • A LEGACY OF TRUST | Your Needs are Important to Us

    A LEGACY OF TRUST | Your Needs are Important to Us

    For more than a quarter of a century, Alliant Wealth Advisors has built a proud tradition of integrity, trust and financial excellence.

Latest News

Seizing the Advantage with Plan Restatements

The numbers have been released and they are big! The U.S. Department of Labor disclosed that 67 percent of the private employee benefits plans that its Employee Benefits Security Administration (EBSA) investigated in fiscal year 2020 resulted in significant monetary awards, mandatory new plan procedures, removal of plan fiduciaries, and even indictments.

The monetary recoveries alone – which included plan repayments, fines and penalties – totaled more than $3.1 billion!

Employers appreciate that offering a 401(k) plan creates advantages for employees, their company and owners. They also know sponsoring a plan involves complexities and risk, including potential personal liability for those who act as fiduciaries. Individuals who are responsible for plan decisions and management or serve as owners or officers of a company are considered fiduciaries. They have had fines or penalties assessed against their personal finances and have been held personally responsible for the decisions they make as they manage their plans.

My blogs focus on prudent decision-making and best practices for plan sponsors. Employers who put the interests of plan participants first, develop and follow prudent plan policies, and document their compliant actions may believe they are unlikely to be a target for investigations such as those conducted by EBSA or lawsuits.

Unfortunately, in today’s world, investigations are launched and lawsuits filed despite operational diligence. The impetus for such challenges can be an unhappy current or former employee, a beneficiary of a plan participant, or an honest mistake in a required regulatory filing. Prudent fiduciaries may be in a good position to defend themselves, but such a defense can be time-consuming and costly.

This is where fiduciary liability insurance comes in.

Fiduciary liability insurance differs from the ERISA or fidelity bond that all 401(k) plans must purchase. The ERISA bond is mandatory and protects plan assets on behalf of participants. Fiduciary liability insurance is optional and can help plan sponsors with the cost of defending themselves.

Employers will want to consult with their commercial insurance carriers as fiduciary liability coverage varies by provider. Some policies pay only for defense in the case of lawsuits, and others reimburse costs associated with a regulatory investigation.

Employers also will want to be mindful of the potential risk of cyber fraud. Today there are increased instances of criminals fraudulently – and successfully – taking large distributions from 401(k) plans. Recent lawsuits have been filed against recordkeepers whose security procedures failed to prevent such breaches as well as the plan sponsors who have hired them.

Once again, a consultation with a commercial insurance agent is in order. It may be that the fiduciary liability coverage offered by your agent will cover defense against charges that you did not adequately protect plan data or ensure that plan service providers would do so. Or it may be that your agent will suggest mitigating 401(k) risk by including it with other insurance coverages you purchase – such as errors and omissions or directors and officers – in a management liability package.

A 401(k) plan provides great advantages to employees, companies and owners. Strategically designed and prudently managed, it can attract workplace talent and help individuals build toward a secure financial future. Adding fiduciary liability insurance – as well as cybersecurity coverage – can allow employers to operate more confidently, knowing that they will have assistance defending their prudent actions if ever needed.

This blog is written to help make the lives of plan sponsors easier in the process of meeting legal requirements under ERISA for their defined contribution plans. Please understand that reading this blog should not alone take the place of a one-on-one consultation regarding the needs of your specific plan, and hence cannot be a guarantee against fiduciary breaches.

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Better 401k and 403b plans