401(k) Plans

Many employers offer 401(k) savings plans to enable their employees to save for retirement on a pre-tax basis through payroll deductions. 401(k) plans are often designed to include employer matching contributions to further encourage employees to save for retirement. Ice Miller offers a variety of plan design, consulting and legal services to assist employers in designing a plan that meets their objectives.

For instance, we (i) assist clients in the selection of vendors and administrators through an extensive RFP (request for proposal) process, offering objective selection advice, (ii) review and negotiate the terms of third-party administrator agreements, (iii) advise employers regarding the fiduciary obligations related to the plan, including the documentation of investment selection objectives through an investment policy statement, (iv) design, draft and review legal plan and trust documents, and (v) draft participant communication materials (including summary plan descriptions) and conduct enrollment meetings.

We also have extensive experience in designing plans that enable executives to maximize their ability to contribute to such plans. While many vendors can offer turn-key 401(k) plan products, Ice Miller’s professionals offer a broad range of experience and services that are designed to specifically tailor the plan design, keeping the employer’s specific needs and objectives in mind.