Retirement Plan Advisory Services

100% Focused on Employer-Sponsored Retirement Plans

401k Consulting

We're 100% Focused on Employer-Sponsored Retirement Plans

Born from an increased demand from our clients, BHS Financial Services and our professionals have a singular focus on employer sponsored retirement plans – so you can be assured you are partnering with specialists, not one of the many generalists out there that only dabbles in retirement plan advisory services.

With a competitive retirement plan designed to provide your people with financial security, you have the potential to make your workforce happier, more focused, and more productive. Better yet, it’s a way to attract – and keep – the talent your company’s success depends on.


What do retirement plan services include?

Retirement plan services encompass a range of offerings designed to assist individuals or organizations in planning, managing, and administering retirement savings and benefits. These services typically include guidance and support in selecting and setting up retirement plans, such as 401(k) plans or IRAs (Individual Retirement Accounts). They may also involve investment management, asset allocation strategies, participant education and communication, compliance monitoring, recordkeeping, and assistance with regulatory requirements. Retirement plan services aim to help individuals and businesses effectively prepare for retirement and maximize their savings and investment opportunities.

What is the difference between a 401k and retirement services?

The main difference between a 401(k) and retirement services is that a 401(k) refers to a specific type of retirement plan, while retirement services encompass a broader range of offerings related to retirement planning and management. A 401(k) is a tax-advantaged retirement savings plan offered by employers to their employees. It allows individuals to contribute a portion of their salary to the plan on a pre-tax basis, and the funds grow tax-deferred until withdrawal during retirement. On the other hand, retirement services can include various services and support related to retirement planning, investment management, compliance, and administration, which can be provided by financial institutions, retirement plan providers, or specialized advisors.

What is 401k and how does it work?

A 401(k) is a retirement savings plan that allows employees to contribute a portion of their salary on a pre-tax basis, meaning the contributions are deducted from their taxable income. These contributions are invested in various financial instruments such as stocks, bonds, or mutual funds, depending on the options available in the plan. The funds grow tax-deferred, meaning individuals do not pay taxes on the investment gains until they withdraw the funds during retirement. Employers may also offer matching contributions, where they contribute a certain percentage of the employee's salary to the 401(k) plan. 401(k) plans are typically administered by financial institutions or retirement plan providers.

What are the pros and cons of a 401k?

The pros of a 401(k) include tax advantages, as contributions are made on a pre-tax basis, reducing taxable income, and investment gains are tax-deferred. Additionally, many employers offer matching contributions, which is essentially free money added to the employee's retirement savings. 401(k) plans also offer flexibility in terms of contribution amounts and investment choices, allowing individuals to customize their retirement savings strategy. However, there are some cons to consider. Withdrawing funds before age 59 ½ may result in penalties and taxes. Investment options in a 401(k) plan may be limited compared to other investment vehicles, and administrative fees may apply. Additionally, market fluctuations can impact the value of investments, leading to potential losses. It's important to carefully evaluate the fees, investment options, and terms of a 401(k) plan before participating.

Why Partner With BHS?

Proprietary Investment Analysis

Simplified Compliance

Co-Fiduciary to Reduce Liability

High-Impact Plan Design

Don't settle for a generalist to manage your 401K. Talk to one of our specialists.

Client

Problem

The NEMSCA retirement plan needed large-scale improvements so it could set its participants up for a successful retirement.

Solution

BHS's expertise in 401k success allowed them to rework NEMSCA's retirement plan from the ground up, resulting in massive value increases and incredible participant engagement.

Investment advisory services offered through Global Retirement Partners, LLC dba BHS Financial Services, an SEC registered investment advisor.


Check the background of this firm on FINRA’s BrokerCheck or the SIPC website.

Learn Why Employers Choose BHS for Retirement