Consulting and Advisory
Services for Your Financial Future
Retirement Plan Advisory Services
The Herbst Group offers retirement plan advisory services, designed to assist Plan Sponsors in meeting their fiduciary obligations to a Plan and its participants. Each engagement is customized to the needs of the Plan and Plan Sponsor.
Vendor Analysis
Plan Participant Enrollment & Education Tracking
401(k) & 401(b) IPS Design & Monitoring
401(k) and 403(b) Investment Policy Statement (“IPS”) Design & Monitoring
Investment Oversight Services
(ERISA3(21) services)
Investment Management Services
(ERISA 3(38) services)
Performance Reporting
Ongoing Investment Recommendation & Assistance
ERISA 404(c) Assistance
Ready to Get Started?
2023 Retirement Contribution Limits
Contribution Limits
| Traditional IRA and Roth IRA limit | $6,500 |
| Traditional IRA and Roth IRA limit (age 50 or older) | $7,500 |
Deferral Limits
| 401(k), 457(b), or 403(b) plan | $22,500 |
| SIMPLE 401(k) plan or SIMPLE IRA | $15,500 |
Catch-up Contributions
| 401(k) plan (age 50 or older) | $7,500 |
| SIMPLE 401(k) plan or SIMPLE IRA (age 50 or older) | $3,500 |
| Simplified Employee Pension (SEP) IRA | $66,000 or 25% of the employee’s compensation |
| Grandfathered Salary Reduction Simplified Employee Pension (SARSEP) IRA (age 50 or older) | $7,500 |
Fee Transparency
Fees for retirement plan advisory services are generally paid monthly in arrears, based on the market value of assets under management at the end of each month. Fees depend on the size and complexity of the plan. Accounts are generally included in the Advisor’s Wrap Fee Program, whereby the Advisor absorbs a custodial fee and transaction costs are included in the Client’s overall asset-based fee. All fees paid to the Advisor are separate and distinct from expenses charged by mutual funds, ETFs, and ADRs (American Depository Receipts) to their shareholders, if applicable.
Additionally, securities transaction fees for client-directed or expedited settlement trades may be charged back to the Client.As a matter of policy, the Advisor does not bill 401k or educational accounts (529) directly. Rather, fees will be deducted from a separate client account that is managed by the Advisor and held at the Advisor’s custodian.
Happiness all around.
Key to Customer Happiness? Happy Employers and Employees.
Let’s build a plan that’ll spread happiness all around.
