About ESOP Simple

Our goal at PHD. Retirement Consulting is to make Retirement Plans simple. Whether its a 401(k) or a 403(b) or an ESOP, the objective is to make the plan simple for the employer (the plan sponsor) and the employees (the plan participants).

To be clear, “ESOP Simple” is not some new kind of retirement plan (like a SIMPLE IRA*). It’s the same type of retirement plan that you’re already familiar with – an ESOP – but it’s just not as complicated as you’ve been led to believe.

There’s a variety of ways to make the plans simple

For Employers

  • Discharging the fiduciary duties helps to make it simple.
  • It helps the employer with ERISA compliance, making one less thing to worry about.
  • Shifting the administration to an ERISA 3(16) Administrative Fiduciary makes it simple.
  • Having an ERISA 402a ‘Named Fiduciary’ is simpler than being the named fiduciary yourself.
  • Discharging the investment liability to an ERISA 3(38) Investment Manager keeps it simple.
  • And engaging an ERISA 3(21) Co-Fiduciary to share the burden makes it even easier.
  • Plan Design that utilizes the lessons of Behavioral Finance from a Certified Behavioral Finance Analyst (CBFA®) helps to make it simple.
  • Eliminating expensive commissions and taking a Fee-only approach keeps it simple (and more affordable).
  • Utilizing a FLAT FEE$ (whether it’s a FLAT FEE for advisory services or a FLAT per head fee for recordkeeping) makes it simple to understand (and control) the cost.
  • Having an expert to quarterback both the ESOP and 401(k) Plan together keeps it simple and affordable.
  • Having a Certified Plan Fiduciary Advisor (CPFA®) to lighten the load for a Plan Fiduciary (the employer) makes it simple.
  • And our goal is to help employers sleep better at night.

For Employees

  • Coordinated education and advice for the employees across all benefits makes it simple.
  • Personal, one-on-one employee engagement helps everybody understand and participate.
  • Money Coaching and Financial Counseling offered to every employee (whether they participate in the plan or not) keeps it simple and benefits the whole team.
  • Financial Advice that’s offered for a Flat Fee$ (without a commission-based, insurance sales pitch) removes conflicts of interest and keeps it simple for the employees.
  • Retirement Plan Advice that leads with Financial Wellness is more holistic and beneficial. It’s much simpler to build Financial Security after gaining Financial Freedom, so we focus on budgeting and stewardship and eliminating debt before focusing on saving and investing.
  • When the employees are served by a Certified Financial Education Instructor (CFEI®) it produces better results.
  • And our goal is to help employees retire better.

Easy Button

401(k) simple

403(b) simple

ESOPs simple

That’s right, at PHD. Retirement Consulting, we even make Employee Stock Ownership plans simple.

*Ironically, we don’t do SIMPLE IRA plans. These are the much less sophisticated workplace retirement plans that some companies start out with before starting a 401(k). We can help you convert your SIMPLE IRA to a 401(k) once you outgrow it, but we don’t administer SIMPLE IRAs.

$A flat fee is always our goal, and a per head fee for recordkeeping is preferred, but some service providers need to use an asset-based fee if the plan is smaller. Under no circumstance, however, do we charge expensive commission fees for advisory services. We are the Fee Only 401k Advisors (link to the FeeOnly401kAdvisor website)