403(b) and 457 plans are deferred compensation retirement savings programs provided by non-traditional employers including local government agencies, public education institutions, certain non-profit organizations and church-related organizations. Dowd Wealth Management works with public managers and treasurers to oversee municipal retirement systems and institutional budgets and implement a successful 403(b) plan or 457 plan.

Implementing a 403(b) or 457 Plan

A municipality has to be the guardian of the retirement fund they offer, ensuring that public employees, retirees and beneficiaries receive the benefits they are legally entitled to. Not having the foresight to do so could lead to costly litigation. We pride ourselves as being completely independent and have no allegiance to any recordkeeper or investment provider. This allows us to successfully implement a tax-advantaged 403(b) or 457 retirement plan without any complications.

Through our extensive experience, we have found that combining robust design, fiduciary and education services will greatly enhance your employees’ outcome and reduce the liability and administrative burden for your organization.

A Wealth of Experience

We can serve as both an ERISA 3(21) and ERISA 3(38) fiduciary, depending on your specific needs. The biggest challenge we consistently see is that plan sponsors don’t have a single system to manage all aspects of a retirement system. We employ a customized software suite that allows us to organize all aspects of fiduciary responsibility, documentation and task management.

The experts at Dowd will work with you on your plan design, coordinating with other retirement plans, increasing participation rates and addressing non-discrimination testing risks.