x

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.

Download Brochure



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.

signature

photo
  • 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

How to Talk to Your Advisor about Financial Wellness

401k plan sponsors with a December 31 year-end date soon will be receiving their administrative plan testing results from Third Party Administrators. For employers who match participant deferrals throughout the year, TPAs will look to see that company matching contributions did not exceed promised levels. TPAs also will determine if sponsors may make true-up company contributions to participants whose total deferrals made them eligible to receive a higher match than they received due to the timing of their deferrals.

Some employers match participants’ deferrals after the end of the plan year, while others match those deferrals throughout the year. When matches are made each payroll, over and under contributions can result.

An excessive employer match is a compliance issue. Should this occur, the sponsor generally must remove any excessive contribution (adjusted for investment gains and losses). The sponsor should act as soon as the discrepancy is identified to ensure plan compliance. Should a participant who received an over-match terminate and take a distribution of their 401k plan assets, the sponsor could be considered out of compliance.

Employers should consult with their TPA to determine what may be done with excessive contributions after they are removed from participants’ accounts. Depending upon a plan’s design, these funds may be able to be deposited to a forfeiture account and used to offset future employer contributions or plan fees. It may also be possible to distribute those funds to all participants through a same-plan-year additional match or profit-sharing contribution.

When a participant is eligible for a full matching contribution but does not receive it, a true-up may be permitted by your plan at the employer’s discretion. A participant that doesn’t receive the full match can result when a participant chooses to defer at an inconsistent rate throughout the plan year. To explain, let’s take a plan that offers a dollar-for-dollar match to anyone who defers 4% of their salary. If a participant defers at an 8% rate for six months and 0% for the remainder of the year, he or she would receive less than a 4% match for the year because only 4% of each deferral would be eligible for matching. At the end of the year, it would be found that the six-month deferral of 8% resulted in a match that was equal to 2% of the participant’s total compensation.

Should the sponsor choose to make a true-up match, all participants who did not receive the full match for which they were eligible would have to receive the true-up contribution. The employer would need to make the contribution before filing the company’s tax return (including any filing extensions) to take the contribution as an expense in that year but would have until the end of the next plan year to make the true-up with the expense taken on the following year’s company tax return.

Matches, and any excessive match corrections or true-ups, depend on many factors as defined in each plan’s design. Employers should check with their Third Party Administrator to confirm their plan’s definition of compensation and the parameters surrounding the match. It’s also a good idea to check that all plan compensation is coded correctly on payroll files to ensure participant deferrals and matches are correctly calculated. Recordkeepers should also be consulted to learn what systems they have in place to help employers ensure all transactions are compliant.

It’s important to have a conversation with your plan’s TPA to help identify the possible actions and deadlines should excessive matches occur, as well as whether the plan allows for true-ups. Understanding the regulatory requirements and the options associated with matches in a 401(k) plan can help a sponsor better operate their plan to their organization’s benefit and the benefit of employees.

This blog is written to help makes the lives of plan sponsors easier in the process of meeting legal under ERISA and improving 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 brief.

Home Logo 01
Home Logo 03
Home Logo 04
v
b
d

  • Home Slideshow 01
  • Home Slideshow 02
  • Home Slideshow 03

Follow us

Stay in touch on...

white
Better 401k and 403b plans