401k Plans

About Our 401k Services

M.C. Byrd Wealth Management’s 401k arm does business as The 401k Shop. Founded over a decade ago The 401k Shop gives independent retirement plan advice to the qualified plan market with a focus on service. We use Retirement Plan Advisory Group to screen more than 100 provider platforms on 400 data points, in addition to screening over 25,000 funds on a simple 10-point scoring system. For a brief introduction, watch our video:  

The 401k Shop's Process Focuses on Four Different Elements.

Catalyst

Proper investments are one of the catalysts to a successful retirement.

The 401(k) Shop partners with plan sponsors to provide the best possible retirement outcome for their participants. Here are some of the tools we bring to the table: 

  • Affiliated with the  CFA-led research team  at Retirement Plan Advisory Group, meaning our research is tailored to the retirement plan marketplace.
  • Transparent and easy-to-understand fee structure,  meaning you’ll never be confused about costs within your plan.
  • Open-architecture plans,  meaning we can offer best-in-class funds without restrictions
  • A straightforward zero to ten pass/fail criteria  to rate funds, fund managers and investment strategies, meaning you’ll never be confused about our recommendations.
  • 15 qualitative and quantitative metrics  are used to determine a coherent retirement strategy for participants of all ages, meaning the participant’s needs are put first.

Compliance

Compliance is always taxing, especially when you have so much on your plate.

We take the stress out of retirement plans by assisting the trustee in their responsibilities. Through our partnership with Retirement Plan Advisory Group, we offer a standardized fiduciary system and a 57 point compliance checklist, including issues like: 

  • Selecting and monitoring fiduciaries
  • Selecting and monitoring service providers
  • Understanding and documenting fees and expenses
  • Selecting and monitoring plan investments
  • Maintaining a fiduciary file
  • Legal and compliance update

Construction

Plan design is the foundation for a successful retirement plan.

As such, it should be reviewed on a periodic basis to make sure that the plan is in line with the goals of the company and the participants. Here’s how we help you evaluate your plan design: 

  • We partner with several of the largest retirement plan administrators in the country to bring you unique ideas
  • Analysis of auto-enrollment to drive participation
  • Analysis of auto-escalation to increase balances
  • Online enrollment options
  • New comparability studies

Communication

Are your participants retirement ready? If they don’t know, plan communication can be improved.

We use communication to educate participants on retirement readiness. Here’s how we help educate participants: 

  • Online videos
  • Literature from industry experts
  • In-house publications
  • Personal consultants

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