401(k) Plan Setup & Management

Launch a simple to use, smart tech enabled, fiduciary administered, compliant and low-cost 401(k) your team will use and appreciate.

At Thoughtful Advisors, we deliver a simple to set up 401(k) plan Space Coast business owners can use to attract, retain and reward employees. We provide fiduciary management and administer the plan helping reduce risk, control fees and educate employees.

Schedule your free 401(k) plan consultation

Why a 401(k) Matters (and Where Plans Go Wrong)

A strong 401(k) plan setup signals you take care of your people, and it’s a must-have benefit across Space Coast industries like aerospace, tech, tourism, manufacturing, and healthcare.

Common pain points we remove

Compliance, filings & notices:

ERISA duties, Form 5500, fee reasonableness.

Testing & design:

Safe harbor vs. traditional, eligibility, vesting, match/non-elective formulas.

Fee opacity:

What you pay for recordkeeping vs. investments, and whether it’s reasonable.

Admin friction:

Payroll integration, timely deposits, distributions, and loans.

What’s at stake:

audits, corrective filings, penalties, and frustrated employees. DOL/IRS expects prudent oversight, reasonable fees, and on-time filings.

We make those expectations manageable.

Our retirement plan administration services centralize the moving parts so sponsors stay compliant and confident.

Our Five-Phase Process

1. Intro Conversation:

Discuss goals, headcount, payroll, timeline, and pain points.

2. Clarify & Organize:

Define eligibility, gather payroll data, and finalize plan design.

3. Thoughtful Plan Design:

Model different scenarios and incorporate SECURE 2.0 credits.

4. Fund & Launch:

Integrate payroll, hold enrollment meetings, and go live (30–45 days for new plans; 60–65 days for conversions).

5. Ongoing Support & Advice:

Annual reviews, fee benchmarking, investment monitoring, and more.

Benefits of Working With Us

For Employers / HR

  • Reduce administrative time with coordinated services.
  • Lower costs through independent fee benchmarking.
  • Pass tests with a sensible plan design.
  • Local support in Brevard County when needed.

For Employees

  • Clear enrollment and education with continued assistance.
  • Monitored investment menus to keep them on track.
  • Confidence from transparent fees and timely deposits.

Who We’re Best For

Small–mid businesses (10–500 employees) in Brevard County / Space Coast launching a new 401(k) or overhauling an underperforming plan.

Owner-only / Solo(k) today with plans to scale benefits.

Talent-competitive industries (aerospace, manufacturing, technology, healthcare, tourism) and employers prepping for exit or seeking better tax efficiency.

Objective check-up seekers: Owners/HR who want a third-party 401(k) audit/benchmark for fees, design, and fiduciary process.

FAQ

Traditional vs. Safe Harbor—what’s the difference?
Both allow employee deferrals and employer contributions. Safe harbor requires a fully vested employer match or nonelective contribution and generally bypasses annual nondiscrimination testing, letting highly compensated employees defer what they intend.
What does it cost to set up and run a 401(k)?
Fees vary by provider and plan size. SECURE 2.0 can cover startup costs for eligible employers (≤50 employees) and provide credits for contributions. We’ll include this in your proposal.
How long does launch take?
~30–45 days for new plans; ~60–65 days for conversions, largely dependent on prior provider data releases. We’ll give you a precise timeline at kickoff.
What are our ongoing responsibilities as the sponsor?
Timely deposit of deferrals, monitoring providers, maintaining plan documents, distributing required notices, and filing Form 5500 annually. With §3(16)/§3(38) coordination, we’ll offload and organize most of the work while keeping you in control.
Can you switch or upgrade our existing plan?
Yes. We manage the conversion timeline, vendor coordination, payroll mapping, and participant communications to reduce disruption.
What if we miss something or fail a test?
Most issues can be corrected through the IRS EPCRS or DOL VFCP programs (e.g., late deposits, operational errors). The key is to identify and correct quickly. We’ll guide you.

Next Step

Ready to make your plan simpler, safer, and more valuable for your team? If you’re looking for “401(k) plan setup near me”, let’s talk.

Book a free consultation
Prefer to talk now? Call 813-251-2600