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401(k)ase Study


During times of uncertainly, adding benefit programs sounds counterintuitive. However, in this case study you will learn how a local small business took the initiative to bring a new solution to the table for their employees.


  • As a small business, retirement plans have a reputation of being overly expensive and complex.
  • The State of Connecticut continues to move forward with a mandatory IRA program that will apply to businesses of this size.
  • The staff of 5 ranges in age from 19 to 60, includes full and part-timers and has varying degrees of financial knowledge. 


This business owner recognized the opportunity that presented itself through the confluence of Federal Tax Credits, leadership by the local Chamber of Commerce, and a local independent financial advisor. 

The business owners recognized they could use a 401(k) and financial wellness program to show their staff they continue to add value as an employer.


Implementation of an efficiently run 401(k) program. This program exempts the business from the State of Connecticut mandate.

By working with a local advisor to the employees have an option of virtual or in-person enrollment and financial wellness sessions. The business partnered with a fiduciary advisor. This ensures the advisor will work in the best interest of the employees and the business.


One of the main reasons there are 40 Million Americans without workplace retirement accounts is the perceived complexity and time commitment for the employer. 

This setup process consisted of a 30-minute meeting with owners to discuss plan design options. This initial meeting was followed up by a 30 minute in-person employee group enrollment meeting. One-on-one individual meetings were made available.


Recordkeeping and administration costs are offset entirely by IRS Tax Credits for the first 3-4 years.

Investment options are the lowest cost share classes available and are on far with the very largest 401(k) plans.


Business owners who are interesting in doing what is right for their employees are attracted to programs like this. It's a solution that supports provides significant value to employees with very little time or financial commitment by the employer.