401(k) Consulting for Business Owners

  • • Reduce compliance risk and personal liability
  • • Lower hidden fees and administrative costs
  • • Improve participation and employee satisfaction

Where We Help Most

Operational Support for Every 401(k) Touchpoint
We handle onboarding, payroll sync, eligibility tracking, notices, and filings. Your plan runs smoothly while you stay focused on your business.
Reduce Personal Liability

ERISA puts responsibility on you. We help protect your role and reputation.

Stay IRS & DOL Compliant Without Stress

Our team helps you stay current with key IRS and DOL requirements. You won’t miss deadlines or be caught off guard by regulatory changes.

Know What You’re Paying — and Why
We analyze your plan costs and compare them to market benchmarks. You get better value and eliminate unnecessary expenses.
Boost Participation with Employee Education
We offer clear, engaging education that helps employees understand your 401(k) plan and take action. When people know how the plan works and what’s in it for them, they’re more likely to enroll, contribute, and stay.
Protect Your Own 401(k) as the Plan Sponsor
If the owner’s own retirement savings are in the plan, this is personal. Positioning this risk makes the pain real and urgent, especially for owners over 45.
Streamlined Audits and Year-End Prep
From documentation to deadlines, we keep your plan organized and ready for audits or Form 5500. No surprises, no scrambling.
Attract and Keep Key People with 401(k) Incentives
We help you structure your 401(k) with features that reward key employees, including profit sharing, safe harbor contributions, and custom eligibility rules. These tools give your most valuable people a reason to stay.

Find the Right Plan for Your Business

Cut hidden costs, reduce fiduciary risk, and build a retirement plan your team will value.

Business owner and financial advisor discussing 401(k) retirement plan documents in a modern office with coffee and charts on the table

Traditional 401(k)

A flexible retirement plan for growing businesses that want control over plan design, investment choices, and contribution formula.

Learn More…

Fully Managed Retirement Plan

Fully Managed Retirement Plan

We handle compliance, record-keeping, and fiduciary oversight—so you don’t have to.so you don’t have to.

Learn More…

Electrician business owner on the phone smiling in his workshop, exploring 401(k) Pooled Employer Plan (PEP) options.

Pooled Employer Plan (PEP)

Join a group retirement plan designed to lower costs, reduce liability, and simplify administration.

Learn More…

Professional virtual meeting between an employer and retirement plan educators on a desktop screen, with a 401(k) platform visible on a nearby tablet. Bright office setting with large windows and natural light.

Solo 401(k)

A powerful option for owner-only businesses with no W-2 employees (except a spouse). (except a spouse).(except a spouse).

Learn More…

Financial advisor explaining advanced 401(k) plan design to business owners during a strategy meeting

SIMPLE IRA

A starter retirement plan for small businesses with fewer than 100 employees. businesses with fewer than 100 employees.businesses 

 Learn More…

Pooled Employer Plan (PEP)

It’s built for busy business owners who want less hassle, lower costs, and stronger compliance — without managing it all themselves.

PEPs (Pooled Employer Plans) are modern 401(k) alternatives that reduce risk and shift liability off your plate.

  • Join a professionally managed group plan that takes day-to-day administration off your plate
  • Cut plan fees by 30–50% compared to traditional standalone 401(k)s
  • Offload most fiduciary liability—we handle compliance and oversight
  • Retain control over investments
  • Ideal for growing businesses that want a modern, hands-off solution

Need clarity on your 401(k) options? We’re here to help.


Get Expert Support

🔒 Fully confidential. No cost & no obligation.

A group of business owners including an electrician, nurse, and office worker standing together after a successful 401(k) plan review

This is the smarter, simpler way to handle your company’s retirement plan.

Retirement plan advisor reviewing 401(k) benchmarking results on a tablet in a modern office

Traditional 401(k) plans offer powerful flexibility but also come with more responsibility. We’ll help you stay in control without getting buried in admin and compliance.

Traditional 401(k)

A Traditional 401(k) gives you full control over your retirement plan, including plan design, service providers, and investment options. It’s a flexible option if you want to tailor every detail, but it also comes with more moving parts to manage.

What You’ll Get with a Traditional 401(k) Setup:

  • Customized eligibility, vesting, and employer match options
  • Freedom to choose your own recordkeeper, TPA, and fund lineup
  • Compliance testing (ADP/ACP, top-heavy, etc.) handled for you
  • IRS Form 5500 filing, participant notices, and disclosures
  • Optional fiduciary oversight (3(16), 3(21), or 3(38)) if needed

Whether you’re starting from scratch or upgrading an outdated plan, we’ll guide you through every step, from design to compliance.


Get Expert Support

🔒 Fully confidential. No cost & no obligation.

Solo 401(k)

A Solo 401(k) is a high-contribution retirement plan built specifically for self-employed professionals and owner-only businesses. You get the same powerful benefits of a corporate 401(k) without the complexity or cost of a group plan.

It’s one of the most flexible ways to reduce taxes and accelerate retirement savings if you have no W-2 employees (other than a spouse).

What You’ll Get with a Solo 401(k) Setup:

  • High contribution limits — up to $70,000 (or $77,500 if 50+) in 2025
  • Pre-tax or Roth salary deferrals + profit-sharing contributions
  • IRS Form 5500-EZ filing and annual compliance
  • Spouse inclusion for added savings
  • Optional loan features and roll-in of old retirement accounts

Whether you’re just starting out or already earning six figures, we’ll help you set up the right plan structure, stay compliant, and make the most of every dollar.


Get Expert Support

🔒 Fully confidential. No cost & no obligation.

Small business owners reviewing 401(k) plan paperwork in their office, smiling

Many Solo 401(k) plans miss the opportunity to include a spouse for added savings. We help you structure the plan to maximize tax advantages and keep things simple.

 

Two retirement plan advisors reviewing 401(k) benchmarking results on a tablet in a modern office

More employers are outsourcing plan operations to reduce liability and regain focus. Fully managed plans are no longer a luxury, they’re smart risk management.

Fully Managed Retirement Plan

You stay in control — we manage the operations, compliance, and deadlines behind the scenes, all through one team and one point of contact.

What’s Included:

  • Day-to-day plan administration and reporting
  • Fiduciary oversight (3(16), 3(38), or 3(21) roles)
  • Payroll integration and data sync
  • Compliance monitoring and vendor coordination
  • Participant communication and notices

Fully managed plans aren’t for everyone — but they’re a smart move for many. Find out if it’s the right fit for your goals.


Get Expert Support

🔒 Fully confidential. No cost & no obligation.

SIMPLE IRA

A low-cost retirement plan designed for small businesses with fewer than 100 employees.

A SIMPLE IRA is one of the easiest ways for eligible businesses to start offering retirement benefits without the complexity or cost of a 401(k).

What You’ll Get with a SIMPLE IRA Setup:

  • Straightforward setup and employee onboarding
  • Lower administrative costs than a 401(k)
  • No IRS Form 5500 or annual compliance filings
  • Required employer contributions: either 2% of salary or up to 3% match
  • Employee deferrals up to $16,000 per year in 2025 (plus $3,500 catch-up if age 50+)

We’ll help you weigh the pros and cons of a SIMPLE IRA, compare it to other options like a SEP IRA or low-cost 401(k), and guide you through setup, compliance, and employee education.


Get Expert Support

🔒 Fully confidential. No cost & no obligation.

Blonde woman in beige dress checking retirement plan on iPhone in bright modern office

Most small businesses don’t realize how affordable it is to offer retirement benefits.

Woman presenting advanced 401(k) design options to business team in a modern office setting

Well-structured plans do more than comply — they reward owners, retain talent, and reduce future risks.

Advanced 401(k) Plan Design

Go beyond basic. Layered plan options that align with business goals — from tax efficiency to employee retention.

What’s Included:

  • Custom plan architecture based on workforce demographics and goals
  • Integrated profit-sharing and Safe Harbor designs
  • Cross-tested and new comparability formulas
  • Executive carve-outs and tiered benefit structures
  • Tax-advantaged contribution strategies for owners and partners

Not every plan needs advanced features,but if yours does, a quick review will make it clear.


Complimentary Plan Review

🔒 Fully confidential. No cost & no obligation.

Why Palm Beach Private Wealth Management?

Operational Support for Every 401(k) Touchpoint
We handle onboarding, payroll sync, eligibility tracking, notices, and filings. Your plan runs smoothly while you stay focused on your business.
Avoid Personal Liability with Fiduciary Protection
Most business owners don’t realize they can be held personally liable for 401(k) mistakes. We help reduce that risk through clear documentation, ongoing oversight, and fiduciary best practices. Lead with confidence and stay protected.
Stay IRS & DOL Compliant Without Stress

Our team helps you stay current with key IRS and DOL requirements. You won’t miss deadlines or be caught off guard by regulatory changes.

Know What You’re Paying — and Why
We analyze your plan costs and compare them to market benchmarks. You get better value and eliminate unnecessary expenses.
Boost Participation with Employee Education
We offer clear, engaging education that helps employees understand your 401(k) plan and take action. When people know how the plan works and what’s in it for them, they’re more likely to enroll, contribute, and stay.
Protect Your Own 401(k) as the Plan Sponsor
If the owner’s own retirement savings are in the plan, this is personal. Positioning this risk makes the pain real and urgent, especially for owners over 45.
Streamlined Audits and Year-End Prep
From documentation to deadlines, we keep your plan organized and ready for audits or Form 5500. No surprises, no scrambling.
Attract and Keep Key People with 401(k) Incentives
We help you structure your 401(k) with features that reward key employees, including profit sharing, safe harbor contributions, and custom eligibility rules. These tools give your most valuable people a reason to stay.

Full-Service 401(k) Solutions in One Place

With expert guidance and unified support, managing your 401(k) becomes simpler and less time-consuming. From plan design to compliance, we handle the moving parts while you stay focused on growing your business.

Retirement Plans FAQ

Can I personally be held liable for mistakes in our 401(k)?

Yes. If you’re listed as a fiduciary or are making decisions about the plan, you can be personally liable, even if the mistake was made by a third-party provider. That’s why it’s critical to understand your responsibilities and consider fiduciary protection options.

Many plans that appear “free” actually include hidden costs inside investment funds or participant-level charges. A professional review can help uncover those fees and benchmark your plan against others in your industry, so you know if you’re truly getting a fair deal.

Your 401(k) may be paying multiple providers, including recordkeepers, advisors, fund managers, and administrators. Each may be compensated through direct fees or embedded costs. We help break down exactly who gets paid, how much, and whether that’s reasonable for the value they’re providing.

You could face financial penalties from the IRS or the Department of Labor, and these violations are publicly visible. Fixing issues quickly and proactively can help you avoid reputational damage and reduce the risk of audits or additional fines.

Not at all.
In fact, many of the businesses we help have 20–100 employees and are exactly the ones most at risk of overpaying or missing compliance steps, because they’re too small for HR to stay on top of everything, but too big for simple solutions to work.

We scale with your size and complexity, and Pooled Employer Plans (PEPs) allow small and mid-size businesses to access institutional pricing and fiduciary protections that used to be reserved for large employers.

No, and that’s a key difference in working with us.
PEPs are not always the right fit. In some cases, a customized standalone plan or a prototype structure with the right fiduciary layers makes more sense.

We run the analysis based on your current plan, your employee population, your goals, and what you want to outsource. If a PEP is a better fit, we’ll show you why. If not, we’ll explain the tradeoffs—and help you optimize what you already have.

It depends on how your plan is set up, but with the right support, you can dramatically reduce your involvement. We regularly help employers cut their workload in half or more by taking over administrative tasks, provider coordination, and employee communication.

Participation often improves with clear communication, auto-enrollment, and regular employee education and training. When your team understands the value of the plan and how to use it, they’re far more likely to contribute.

That’s absolutely fine.
We’re flexible and collaborative—we can either work alongside your current providers or help you transition if that’s the better path.
In many cases, we act as an overlay, bringing in benchmarking, plan optimization, and fiduciary protections while keeping familiar relationships in place.

Our goal is not to blow things up. It’s to upgrade what’s not working and protect what is.

Yes. We can perform a full behind-the-scenes review using publicly available filings and internal plan documents. You stay in control, and your current provider won’t be contacted unless you decide to make a change.

We look at your fees, providers, plan design, compliance, and employee outcomes. Then we deliver a simple, honest summary, highlighting any risks, opportunities, or savings, with no pressure to switch providers or buy anything.

They combine transparent pricing, strong participation, easy administration, and low fiduciary risk. We’ll show you what top-performing plans include — and how yours could be upgraded if needed.

What We Hear After the First Real Fix

  • ✔“I finally stopped worrying about whether we were compliant.”
  • ✔“Our employees actually understood their plan for the first time.”
  • ✔“We eliminated constant admin issues. I have time to focus on growth again.”
  • ✔“I thought we were doing okay — now I know we’re doing it right.”

There’s zero risk and a lot to gain.


Complimentary Plan Review

🔒 Fully confidential. No cost & no obligation.

Four business owners — a professional, a construction worker, a doctor, and a mechanic — confident after improving their 401(k) plans

Just a quick note.

We know you’re busy. Probably skeptical. Maybe even tired of all the sales noise.

That’s not what this is.

We’re here to be useful, earn your trust, and hopefully win your business.

Direct Support From a Real Advisor. Not a Salesperson.

When you reach out, you’ll connect with Elena Samofalova — one of the lead advisors on a seasoned team of retirement strategists, compliance specialists, plan administrators, and investment professionals with over 30 years of combined experience.

You’re not getting routed to a sales rep or call center. Just professional guidance from someone who understands the challenges business owners face.

📞 Call or Text Elena
+1 (954) 400-3038
(Texting is often easiest — Elena will reply personally.)
📧 Email
elena@palmbeachpwm.com
📍 Office Address
103 SE 3rd Avenue, 10th Floor
Fort Lauderdale, Florida 33394

Contact Me Today

Elena Samofalova – Retirement Planning Specialist

Elena Samofalova

Investment Advisor / Retirement Strategist
CEO, Palm Beach Private Wealth Management

Helping small and mid-sized businesses reduce 401(k) risk, simplify compliance, and support their team with real guidance.

Retirement Income News and Articles

Retirement Income News and Articles

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401(k) Consulting & Retirement Planning for Employers and Their Teams

Run your plan with less risk, cost, and stress. Start with an annual plan review (Recommended).

🔒 Fully confidential. No cost & no commitment.

Investment advisor smiling while reviewing 401(k) plan on the phone in a modern office

401(k) Consulting & Retirement Planning for Companies of All Sizes

Reduce fiduciary liability. Improve plan performance. Help your team retire without stress.

Fully Managed Retirement Plan

From record-keeping and compliance to fiduciary oversight and administration, we manage your plan so you don’t have to.

More employers are outsourcing plan operations to reduce liability and regain focus. Fully managed plans are no longer a luxury — they’re smart risk management.

More details   →

Compliance & Fiduciary Liability Protection

Avoid DOL audits, fines, and lawsuits with built-in fiduciary oversight and full compliance support.

Plans with 3(38) and 3(16) fiduciary roles in place face significantly lower risk of audit findings and fines.

More details   →

Fee Benchmarking & Cost Optimization

We benchmark your plan fees, renegotiate vendor contracts, and restructure your plan to reduce costs and cut hidden fees.

Most employers save 20–40% in annual costs after our review.

More details   →

Modern Employee Engagement & Education

Make retirement easy to join, easy to understand, and easy to manage for both employees and HR.

Plans with strong communication strategies see up to 70% higher participation rates. (Source: Vanguard, 2023 Defined Contribution Survey)

More details   →

Advanced 401(k) Plan Design

We restructure your plan to better align with your tax, nondiscrimination testing, and retention goals, so it works for your business – not against you.

Well-structured plans do more than comply — they reward owners, retain talent, and reduce future risks.

More details   →

A group of business owners including an electrician, nurse, and office worker standing together after a successful 401(k) plan review

New-Level Plan Design: Is a PEP Right for You?

If your current 401(k) is expensive, hard to manage, or failing compliance testing, it might be time for a better structure. PEPs (Pooled Employer Plans) are modern 401(k) alternatives that reduce risk, lower costs, and shift liability off your plate.

  • Avoid fiduciary liability
  • Eliminate separate filings
  • Simplify compliance
  • Retain control over investments

See how transitioning to a PEP could simplify your 401(k) and protect your business. Start with your current plan review.

🔒 Fully confidential. No cost & no commitment.

Business owner reviewing 401(k) plan results after receiving a personalized fiduciary analysis

Fee Benchmarking & Cost Optimization

We benchmark your plan costs, identify hidden fees, and help you renegotiate or restructure your plan to save money without sacrificing quality.

What’s Included:

  • Detailed vendor fee reviews and benchmarking
  • Side-by-side comparisons across major recordkeepers
  • RFP/RFI support if switching providers is warranted
  • Plan design recommendations to eliminate inefficiencies

Even well-run plans often hide unnecessary costs. Start with a side-by-side review of your current fees and potential savings.

🔒 Fully confidential. No cost & no commitment.

Business professional reviewing 401(k) plan dashboards with participant data, investment charts, and compliance indicators

Fully Managed Retirement Plan

You stay in control — we manage the operations, compliance, and deadlines behind the scenes, all through one team and one point of contact.

What’s Included:

  • Day-to-day plan administration and reporting
  • Fiduciary oversight (3(16), 3(38), or 3(21) roles)
  • Payroll integration and data sync
  • Compliance monitoring and vendor coordination
  • Participant communication and notices

Fully managed plans aren’t for everyone — but they’re a smart move for many. Find out if it’s the right fit for your goals with a short plan review.

🔒 Fully confidential. No cost & no commitment.

A small business owner reviewing 401(k) plan paperwork in their office, looking concerned

Compliance & Fiduciary Liability Protection

Protect your business from costly mistakes with built-in fiduciary support and full ERISA compliance oversight.

What’s Covered:

  • 3(16), 3(21), and 3(38) fiduciary role delegation
  • Annual compliance testing (ADP/ACP, top-heavy, 415 limits)
  • DOL/IRS audit support and filing assistance
  • Ongoing plan document maintenance and amendments

Full compliance isn’t about checking boxes— it’s about protecting your business. A plan review can help you uncover hidden risks before the DOL does.

🔒 Fully confidential. No cost & no commitment.

Blonde woman in beige dress checking retirement 401(k) plan on iPhone in bright modern office

Modern Employee Engagement & Education

Make retirement easy to join, easy to understand, and easy to stick with — for both employees and HR.

What’s Included:

  • Auto-enrollment and contribution escalation setup
  • On-demand tools for goal setting and retirement readiness
  • Bilingual education and one-on-one guidance
  • Interactive dashboards and personalized retirement insights
  • Participation and engagement tracking with monthly reports

Strong participation starts with smart communication. A quick plan review can uncover simple ways to boost engagement and reduce HR friction.

🔒 Fully confidential. No cost & no commitment.

Investment advisor presenting advanced 401(k) design options to business team in a modern office setting

Advanced 401(k) Plan Design

Go beyond basic. Layered plan options that align with business goals — from tax efficiency to employee retention.

What’s Included:

  • Custom plan architecture based on workforce demographics and goals
  • Integrated profit-sharing and Safe Harbor designs
  • Cross-tested and new comparability formulas
  • Executive carve-outs and tiered benefit structures
  • Tax-advantaged contribution strategies for owners and partners

Not every plan needs advanced features,but if yours does, a quick review will make it clear.

🔒 Fully confidential. No cost & no commitment.

FAQs: Questions We Often Hear From Business Owners

That’s a fair question—and the truth is, most advisory firms represent a handful of providers or have hidden sales incentives. We don’t. We’re not tied to any provider, platform, or recordkeeper.

We’re fully independent fiduciary advisors and don’t sell or push any particular 401(k) product. Instead, we evaluate all the major providers, know the strengths and weaknesses of each, and recommend only what truly fits your company’s size, goals, and workforce. What works well for one business could be a poor fit for another, and we tailor every solution accordingly.

Our team brings over 30+ years of combined experience in retirement plan design, compliance, and investment strategy. We actively monitor every aspect of your plan, help you negotiate fees, and represent your best interests during vendor selection or transitions. You’re not dealing with a broker—we act as a strategic partner protecting your outcomes, not pushing someone else’s quota.

A “fully managed” retirement plan means you’re not left juggling compliance, vendors, testing, participant notices, and filings on your own.
We bring in expert fiduciaries (3(16), 3(38), or 3(21)), integrate with payroll, coordinate vendors, and monitor your plan in real time. You still control the strategy and decisions—but we take over the operations, reducing errors, delays, and liability.

If your current provider only offers recordkeeping or basic admin, you’re probably carrying more risk than you realize.

“Low” doesn’t always mean fair or competitive.
We’ve seen plans that look inexpensive until you uncover revenue-sharing, wrap fees, or inflated advisory costs buried in outdated contracts.

Our benchmarking process is not just a rate check—it includes:

  • Comparing recordkeepers side-by-side

  • Analyzing every fee layer (TPA, investment, advisory, etc.)

  • Negotiating on your behalf or replacing overpriced vendors

It’s common for plans to save $25,000–$100,000+ annually after restructuring.

If you’re still acting as the plan fiduciary, you are.
Even if you have a TPA or advisor, liability doesn’t go away unless those roles are properly delegated.

We help you offload specific fiduciary duties to qualified 3(16), 3(38), or 3(21) providers and make sure those roles are clearly documented and compliant.
We also oversee the entire compliance ecosystem, from nondiscrimination testing to IRS filings, so surprises are avoided, not managed after the fact.

Not at all.

In fact, many of the businesses we help have 20–100 employees and are exactly the ones most at risk of overpaying or missing compliance steps, because they’re too small for HR to stay on top of everything, but too big for simple solutions to work.

We scale with your size and complexity, and Pooled Employer Plans (PEPs) allow small and mid-size businesses to access institutional pricing and fiduciary protections that used to be reserved for large employers.

No, and that’s a key difference in working with us.
PEPs are not always the right fit. In some cases, a customized standalone plan or a prototype structure with the right fiduciary layers makes more sense.

We run the analysis based on your current plan, your employee population, your goals, and what you want to outsource. If a PEP is a better fit, we’ll show you why. If not, we’ll explain the tradeoffs—and help you optimize what you already have.

Because the truth is, many plans are too simple on the surface and too risky underneath.
What feels “easy” often comes from years of default settings, ignored notices, and autopilot renewals.

We break that cycle by helping you:

  • See how your current plan is actually performing

  • Understand where risk, cost, or inefficiency is hiding

  • Simplify with structure—not shortcuts

Once the right system is in place, you’ll spend less time managing your plan—not more.

Yes, and that’s part of what sets us apart.
We don’t stop at compliance and cost—we help employees understand and use their plan. Our education programs are modern, concise, and tailored to the real questions employees ask:

“Am I on track to retire?”
“Where is my money invested?”
“How do I make decisions that fit my life?”

Better education means higher participation, more satisfaction, and fewer employee questions landing on your desk.

That’s absolutely fine.
We’re flexible and collaborative—we can either work alongside your current providers or help you transition if that’s the better path.
In many cases, we act as an overlay, bringing in benchmarking, plan optimization, and fiduciary protections while keeping familiar relationships in place.

Our goal is not to blow things up. It’s to upgrade what’s not working and protect what is.

You don’t need to do this yourself, or all at once.

We start with a simple conversation and review your plan documents in the background. From there, we handle the research, benchmarking, analysis, and transition roadmap.

Your total time commitment: about 1–2 hours total, across a few short meetings.
And the return? Lower fees. Less liability. Higher confidence.

What Business Owners Tell Us After We Step In

A group of smiling business owners including an electrician, nurse, and office worker standing together after a successful 401(k) plan review
  • ✔ “I finally stopped worrying about whether we were compliant.”
  • ✔ “Our employees actually understood their plan for the first time.”
  • ✔ “All those 401(k) admin headaches? Just gone.”
  • ✔ “I thought we were doing okay — now I know we’re doing it right.”

There’s zero risk and a lot to gain.

🔒 Fully confidential. No cost & no commitment.

Just a quick note.

We know you’re busy. Probably skeptical. Maybe even tired of all the sales noise.

That’s not what this is.
We’re here to be useful, earn your trust, and hopefully win your business.

Elena Samofalova

Elena Samofalova

Investment Advisor / Retirement Strategist

CEO, Palm Beach Private Wealth Management

Helping small and mid-sized businesses reduce 401(k) risk, simplify compliance, and support their team with real guidance.