Starting a first plan
Small and growing companies weighing a SIMPLE IRA, SEP or 401(k), and wondering how much the SECURE 2.0 tax credits could offset in the first years.
See the plan types →Plan advisor services
What a retirement plan advisor can take on for your company.
Who we work with, the services a plan advisor typically provides, and how we work with employers step by step.
Employer-plan education with visible sources.IRS and U.S. Department of Labor sources checked October 8, 2026.How we review content →
Who this is for
Built for employers at three different starting points.
Reviewing the plan you have
Companies whose plan has grown, whose fund menu hasn’t had a formal review in a while, or whose fees haven’t been benchmarked since the plan was set up.
Is it time to review? →Comparing plan advisors
Owners and HR or finance leaders who want a clearly defined fiduciary role, a written investment process and more support for employees.
Questions to ask any advisor →There is no fixed plan minimum; scope is tailored to each employer and documented in the engagement.
What a plan advisor can do
Overseeing plan investments is a job. Here’s what it involves.
Under ERISA, choosing and monitoring a plan’s investments is a fiduciary duty, and the Department of Labor notes that a fiduciary who lacks investment expertise will want to hire someone who has it. Typical retirement plan advisor services include:
Investment Policy Statement
A written policy that explains how plan investments are chosen, measured and replaced. ERISA doesn’t require one, but it records the process fiduciaries are expected to follow.
Fund menu selection and monitoring
Building a diversified lineup across asset classes, then reviewing each option against the policy on a set schedule: cost, risk, manager changes and how it compares with peers.
Default investment (QDIA)
Choosing where money goes for employees who don’t pick their own investments. Department of Labor rules recognize target-date funds, balanced funds and managed accounts as qualified defaults.
Fee benchmarking
Comparing what the plan pays for recordkeeping, administration, investments and advice with similar plans, using the fee disclosures providers must give you under ERISA section 408(b)(2).
Recordkeeper and TPA search
Running a side-by-side request for proposals that gives every provider the same information, as the Department of Labor suggests, and documenting why one was chosen.
Fiduciary file and committee support
Agendas, review reports and meeting minutes kept in one place, so the plan’s decisions and the reasons behind them are written down.
Enrollment and education meetings
Group meetings and materials on saving, investing and using the plan’s features. General education is different from individual investment advice, and the two are treated differently under ERISA.
Employees nearing retirement
Planning conversations for employees ages 55–65 about Social Security timing, 401(k) choices at retirement, healthcare before Medicare and turning savings into income.
How we approach ages 55–65 →Plan design coordination
Working with your third-party administrator (TPA) and ERISA counsel on features such as automatic enrollment, the match formula, safe harbor status and eligibility rules.
Services Strong Tower provides. These are typical options an employer may evaluate, including investment selection and monitoring support, investment policy support, fee benchmarking, provider review, committee documentation, participant education, and provider 3(38) discretionary investment management and contracted 3(16) administration. They are industry examples, not a confirmation that every service is included in every engagement; the services in your engagement are set out in a written agreement.
How we work with employers
A documented process, from first review to ongoing oversight.
- GoalsYour goals for the plan, your workforce, budget, current providers and concerns. No employee census or account data is needed at this stage.
- Financial EvaluationPlan review and benchmark: a look at the plan document, fund menu, fees from your 408(b)(2) disclosures and participation, compared with similar plans.
- Financial Plan & RecommendationsWritten recommendations: a summary of findings and options for the investment menu, default fund, fees and providers, plus plan design ideas to discuss with your TPA.
- Financial SolutionsImplementation: an Investment Policy Statement, fund changes, any provider transition and the required participant notices, coordinated with your recordkeeper. Employee education: enrollment and education meetings, and retirement-transition planning for employees approaching their final working years.
- Monitor and ReviewOngoing monitoring: scheduled investment reviews against the policy, periodic fee checks and meeting minutes for your fiduciary file.
These are the same five steps Strong Tower uses with every client →
Process details. Scope and review cadence are tailored to each employer and documented in the engagement. We do not publish fixed plan minimums, standard report packages or a universal review schedule.
Employees nearing retirement
Help the people closest to retirement make the transition well.
Strong Tower’s individual practice focuses on ages 55–65: Social Security timing, what to do with a 401(k), healthcare before Medicare and retirement income. Your plan’s education program can point employees to the same questions.
Business inquiry
Have a question about your company’s plan?
Send a short business inquiry. No employee census or plan statements are needed to start.
Sources
- U.S. Department of Labor, EBSA: Meeting Your Fiduciary Responsibilities
- DOL fact sheet: Service provider disclosures under ERISA section 408(b)(2)
- DOL fact sheet: Qualified default investment alternatives
- SEC Investor.gov: Working with an investment professional
Important disclosures
This page is general education about employer-sponsored retirement plans. It is not legal, tax or ERISA compliance advice and does not recommend any plan type, investment or provider for a particular employer. Plan rules, contribution limits and tax credits change, and eligibility depends on your facts; consult your ERISA counsel, third-party administrator and tax adviser.
Investing involves risk, including possible loss of principal. A retirement plan advisor or investment manager cannot eliminate investment risk or a plan sponsor’s fiduciary responsibilities. Strong Tower Advisors is not affiliated with or endorsed by the U.S. Department of Labor or the IRS.
Employer-plan services disclosure. Investment advisory and fiduciary plan-advisor services are provided through TLG Advisors, Inc. (a Simplicity company), an SEC-registered investment adviser. Strong Tower Advisors and TLG Advisors are separate and unrelated companies. 3(38) investment management and 3(16) plan administration are typically provided by contracted plan providers, money managers and TPAs; specific roles are established through written agreements. Compensation, costs, who pays and conflicts of interest are disclosed in the applicable plan service-provider disclosures and engagement agreements; not all services are free.
Content review
Prepared by Strong Tower Advisors for general education about employer retirement plans. Rule-based content is linked to primary public sources (IRS, U.S. Department of Labor and Federal Register) and is reviewed periodically because plan limits and regulations change.
About Strong Tower Advisors · Editorial and sourcing standards · Last reviewed October 2026