Business Retirement Plan Services in Charlotte, NC

Offering a competitive business retirement plan today is far more than just an employee perk; it’s a vital strategic tool for attracting top talent, keeping your most valuable employees, and unlocking significant tax advantages for your business. For many business owners, the company retirement plan represents one of the most powerful vehicles available for accumulating substantial personal retirement savings on a tax-advantaged basis.

At Portus Wealth Advisors, we specialize in designing, implementing, and providing ongoing objective, fiduciary guidance for corporate retirement plans. We work closely with businesses here in Charlotte, NC, tailoring solutions to meet their unique goals and employee demographics.

Our aim is to help you establish and manage a retirement plan that not only serves as a compelling employee benefit but also aligns effectively with your company’s financial objectives and supports your own long-term financial security as the owner.

Why Offer a Corporate Retirement Plan?

Implementing and maintaining a business retirement plan is far more than an operational expense; it’s a powerful strategic investment that delivers significant advantages to your business, your valued employees, and importantly, to you as the business owner. Establishing the right plan provides benefits on multiple fronts:

Benefits for Your Business and Employees

Attract & Retain Top Talent: In today’s competitive job market, a high-quality retirement plan is often a key factor in attracting and retaining skilled employees. It signals stability and a genuine investment in your workforce’s future financial well-being, boosting morale and loyalty.
Significant Business Tax Advantages: Contributions made by the company to employee accounts, such as matching contributions or profit-sharing allocations, are tax-deductible business expenses. Most costs associated with setting up and administering the plan are also deductible, helping to lower the company’s overall taxable income.

Benefits for You as the Business Owner

Accelerated Personal Savings Power: For many owners, the company retirement plan offers the potential for much higher annual contribution limits compared to personal IRAs alone. This allows you to save substantially more for your own retirement on a tax-advantaged basis, accelerating your path towards financial independence. Plans incorporating features like profit sharing or advanced designs like cash balance plans can further maximize owner savings potential.
Tax-Advantaged Growth: Contributions made to the plan (both employer and employee, depending on the type) and the investment earnings generated within the plan grow tax-deferred. This means your retirement savings can compound more rapidly over time, shielded from annual taxation until withdrawal in retirement. Options for Roth contributions within certain plans can also provide for tax-free withdrawals later.
Alignment with Personal Goals: A well-structured company plan becomes a cornerstone supporting your own long-term financial objectives, integrating with the retirement and wealth accumulation goals established in your personal financial plan.

The Portus Advantage: Fiduciary Guidance for Your Plan

Choosing, implementing, and managing a business retirement plan carries significant fiduciary responsibilities for you as the business owner and designated plan sponsor. Partnering with Portus Wealth Advisors provides the objective expertise and strategic guidance necessary to help you meet these obligations confidently while maximizing the plan’s value for your company, your employees, and your own financial future. Our distinct advantages for Charlotte businesses include:

Objective Fiduciary Partnership: As ERISA fiduciaries providing advice on your company’s retirement plan, our primary legal and ethical commitment is to act solely in the best interests of the plan and its participants. We provide completely unbiased advice regarding plan design, investment selection, and service provider choices because we are independent and do not receive commissions, revenue sharing, or other hidden compensation from specific fund families or record keepers.
Experience with Business Retirement Plans: We specialize in designing, implementing, and advising on retirement plans tailored for the needs of privately held businesses and their owners here in Charlotte. We understand the nuances and options available (like profit sharing or cash balance plans) that go beyond standard offerings, allowing us to customize strategies that fit your company’s goals, size, and employee demographics.
Dual Focus on Owner & Participant Success: We strive to help you structure a plan that serves two vital purposes: acting as a powerful tool for attracting and retaining talented employees, and serving as an optimal vehicle for maximizing your own tax-advantaged retirement savings as the business owner, all within regulatory guidelines.
Integrated Planning Perspective: We view your corporate retirement plan not in isolation, but as a key component integrated with your overall business financial strategy and, crucially, with your personal financial plan. Portus considers all choices regarding contribution levels, plan features, and investment choices, taking into account your broader business objectives and personal retirement goals.
Independent Investment Oversight: A core fiduciary duty is prudent investment selection and monitoring. We apply a disciplined, objective process to help you curate and oversee a diversified, cost-effective investment menu for your plan participants, fulfilling this critical responsibility.
Dedicated Charlotte Expertise: You receive ongoing support and strategic guidance from our experienced team based right here in Charlotte. We provide local understanding and personalized partnership alongside sophisticated retirement plan advisory services.

Types of Retirement Plans We Advise On

Choosing the right retirement plan structure is crucial for meeting your specific business objectives, optimizing tax advantages, and providing meaningful benefits to your employees and yourself as the owner. The best choice depends on factors like your company size, profitability, employee demographics, and primary goals (e.g., maximizing owner savings vs. broad employee participation). Portus Wealth Advisors provides objective guidance on a range of plans suitable for closely held businesses in Charlotte, including:

401(k) Plans (including Safe Harbor & Roth options)

Highly popular and flexible, 401(k) plans allow employees to contribute pre-tax or Roth dollars through payroll deferrals. Employers can choose to make matching contributions or non-elective contributions. Adding a Safe Harbor design can simplify non-discrimination testing requirements and allow owners and highly compensated employees to maximize their own deferrals. These plans are excellent for encouraging employee participation and offering competitive benefits.

Profit Sharing Plans

Often added as a component to a 401(k) plan, or sometimes used standalone, profit-sharing plans allow the employer to make discretionary contributions to employee accounts. Contribution amounts can vary year-to-year based on business profitability, providing flexibility for the company while offering a powerful way to reward employees and significantly boost retirement savings, particularly for owners.

SEP IRA (Simplified Employee Pension)

A SEP IRA is easier and less costly to administer than a 401(k). As the employer, you make contributions as a percentage of compensation, directly into employees’ traditional IRAs. SEPs are often well-suited for self-employed individuals or small businesses with few employees, where the primary goal is maximizing tax-deductible contributions, especially for the owner.

SIMPLE IRA (Savings Incentive Match Plan for Employees)

Designed for smaller employers (typically fewer than 100 employees), SIMPLE IRAs allow for employee salary deferrals (at lower limits than 401(k)s) and require a mandatory employer contribution, either through a matching formula or a flat non-elective contribution. They offer relative administrative simplicity compared to 401(k) plans.

Defined Benefit / Cash Balance Plans

Unlike defined contribution plans (like 401(k)s or SEPs), defined benefit plans, including modern Cash Balance designs, focus on providing a specific, projected benefit at retirement. These plans can allow for very large, tax-deductible employer contributions, making them particularly attractive for highly profitable businesses where older owners want to accelerate their retirement savings. These plans are more complex and require ongoing actuarial support.

Portus Wealth Advisors Corporate Retirement Plan Advisory Services

Beyond helping you select the right type of plan, Portus Wealth Advisors provides ongoing, comprehensive advisory services designed to ensure your company’s retirement plan remains effective, compliant, and aligned with your objectives. Our key services include:

Plan Design & Consultation

Whether establishing a new plan or optimizing an existing one, we provide expert consultation on plan design. We help you structure features like eligibility, vesting schedules, contribution formulas (including matching and profit sharing), and loan/distribution provisions to best meet your business goals, budget constraints, and desire to benefit both owners and employees effectively.

Investment Policy Statement (IPS) Development

A formal IPS is a cornerstone of prudent fiduciary governance. We work with you, as the plan sponsor, to develop a comprehensive IPS specifically for the retirement plan. This document outlines the plan’s investment objectives, criteria for selecting and monitoring investment options, roles and responsibilities, and diversification guidelines, providing a clear roadmap for investment decisions.

Investment Selection, Monitoring, and Fiduciary Oversight

Acting in a fiduciary capacity, we provide objective guidance on selecting a diversified, cost-effective, and appropriate menu of investment options for your plan participants. We conduct ongoing due diligence and monitoring of these investments against the criteria established in the IPS, providing recommendations for any necessary changes to maintain alignment and fulfill fiduciary duties.

Employee Education & Communication Support

We believe informed participants make better decisions. While the primary communication responsibility often lies with the employer and record keeper, we can provide valuable support by developing educational materials or conducting group sessions for your employees. Topics often include understanding plan benefits, basic investment principles, and the importance of saving for retirement, helping to increase appreciation and participation.

Coordination with TPAs & Record Keepers

Effective plan management requires seamless collaboration between advisors and service providers. We work closely with your chosen Third-Party Administrator (TPA) – who typically handles compliance testing and plan documents – and your record keeper – who manages participant accounts and the plan website. Our coordination helps ensure smooth plan operation, accurate data flow, and alignment between administrative functions and the plan’s investment strategy.

Our Process for Business Retirement Plans

Whether you are establishing a new retirement plan for your company or seeking to review and optimize an existing one, we follow a collaborative and disciplined process designed to ensure your plan effectively meets the needs of your business, your employees, and your own financial goals:

Step 1: Discovery & Plan Assessment

Our process begins with a thorough discovery phase to understand your specific objectives. We discuss your business goals for offering the plan (e.g., attracting talent, maximizing owner savings, tax efficiency), analyze your employee demographics, determine your budget for contributions and administration, and, if applicable, conduct a review of your current retirement plan’s documents, features, investments, and performance.

Step 2: Plan Design & Vendor Analysis/Coordination

Based on the discovery insights, we analyze various plan types and design features to recommend the structure best suited to your company’s unique circumstances. We provide objective analysis and education on the options. If selecting or reviewing service providers (like Third-Party Administrators or record keepers), we can help you evaluate proposals and coordinate with vendors, leveraging our independence to provide unbiased perspectives.

Step 3: Implementation Support & Coordination

Once you select a plan design and providers, we provide crucial support during the implementation phase. We work closely with your chosen TPA, record keeper, and payroll provider to facilitate a smooth setup or transition process. This includes coordinating the preparation of plan documents, assisting with the setup of administrative procedures, and supporting your initial employee enrollment and communication efforts.

Step 4: Investment Menu Selection & Management Setup

A key component of our role involves establishing and managing the plan’s investment lineup according to the Investment Policy Statement (IPS). We guide you through selecting an appropriate, diversified, and cost-effective menu of investment options, establish procedures for ongoing monitoring and due diligence, and set up the framework for providing fiduciary oversight of the plan’s investments.

Step 5: Ongoing Review & Fiduciary Support

A retirement plan requires continuous attention. Our ongoing service includes conducting periodic plan reviews to assess effectiveness, costs, and compliance considerations; providing regular investment monitoring and performance reporting; offering ongoing fiduciary support to help you meet your responsibilities as plan sponsor; and recommending plan adjustments as your business needs, regulations, or market conditions change.

A well-designed and diligently managed business retirement plan is far more than just a benefit – it’s a powerful strategic asset for your business and a cornerstone of long-term financial security for both you and your valued employees. Navigating the complexities of plan design, investment oversight, and crucial fiduciary responsibilities requires experienced, objective guidance focused purely on the best interests of the plan and its participants.

At Portus Wealth Advisors, we are dedicated to partnering with Charlotte business owners like you, helping you create, manage, and optimize retirement plans that truly deliver on their promise.

Whether you are considering establishing your company’s first retirement plan or seeking an independent, fiduciary review of your existing program to ensure it aligns with your current goals and regulatory requirements, we encourage you to take the next step.

Contact us today to schedule a confidential consultation to discuss your business’s unique retirement plan needs and objectives. Let’s explore how our specialized advisory services can benefit your company, your employees, and your own financial future.

Call Us: 704-936-0084