So let's take a few minutes and review some of the more important aspects of this question. A retirement plan TPA can assist the business owner in addressing the complex problems and opportunities in retirement plan design and continuing administration.
Consultation is much like kicking the tires of a prospective new automobile.
The TPA can help the business owner identify business and personal needs for tax-deferred plans, employee retirement and savings benefits, as well as additional needs like meeting competition in your industry. The Design phase is where we give this potential plan a test drive. After the initial consultation is completed, the TPA will crunch some numbers specific to your business, and make a series of alternatives available for your review. You may also wish to consult your attorney, tax and financial advisors regarding these alternatives. Reviewing the options is important so that you don't wind up with the wrong vehicle for your needs.