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Retirement Services and Health Savings Accounts

A robust benefits plan can give you the edge you need to build a phenomenal team. We'll help you build a benefits package that's efficient.

As a business owner, you understand the importance of providing a corporate retirement plan to attract and retain great employees and help them achieve retirement readiness. However, the idea of managing the compliance and legal requirements of a retirement plan can feel overwhelming to any business owner and their financial and HR executives.

At First Western Trust, we recognize that your time and your executives’ time is better spent focusing on building, growing, and managing your business. Our retirement consulting team partners with you to make sponsoring your retirement plan as hands free as possible.

Partnering with Our Retirement Consultants

We begin our process by reviewing your goals—what you want our retirement consultants to accomplish, any special needs your organization may have, and cost considerations. We understand that each organization has their own benefits budget and priorities, so we take a look at your objectives and structure a plan, around your company, your employees, and your executives.

Once the right corporate retirement plan design has been implemented, we provide you with the expertise of our retirement consulting team to stay in compliance with ERISA regulations. Through our flexibility and innovative problem solving we provide you with peace of mind that your plan is on the right track, and achieving your objectives.

Our Retirement Consultants offer creative corporate retirement plan design solutions for: Defined contribution plans such as 401(k), 401(a), 403(b), 457 and ESOP Plans and defined benefit pension plans.

As a named fiduciary on your plan, we offer the following services:

Fiduciary Liability Management

  • Investment Policy Statement management
  • Education to Plan Sponsors on fiduciary duties
  • Investment opportunity optimization
  • Investment Policy Statement
  • Investment options
  • Periodic review
  • Suggested replacements for underperforming funds
  • Managed models
  • ERISA 3(38) plan protection and benchmarking

Holistic Retirement Planning

  • Plan design and analysis
  • Vendor search
  • Cost and service analysis
  • Implementation coordination
  • Customized employee education
  • Monitoring and advising on DOL and IRS regulatory changes
  • Plan terminations
  • Compliance issue corrections

Our retirement consultants prepare quarterly reviews of marketplace trends (investments, administration, regulatory, and litigation) for your company and provide periodic plan benchmarking to validate fees and services provided to the plan. We also attend board and committee meetings and provide an annual fiduciary audit to help reduce your fiduciary risk.

Health Savings Accounts

With growing concerns about how to save for healthcare in retirement, Health Savings Accounts (HSA) are becoming increasingly popular vehicles to support both an individual’s long-term goals as well as a company’s.

In the past, HSAs have largely been held as simple savings accounts, but now, there are more options to invest these savings to help HSAs grow along with the market.

At First Western Trust, our experienced Retirement Consulting team partners with businesses and individuals to provide investment advice to help you achieve your goals.

How HSA’s Works

Our health savings accounts are held and administered by Health Savings Administrators. This company serves as the HSA administrator and manages the distribution of statements, disclosures, and debit cards.

Our Retirement Consulting team serves as the investment advisor for the HSAs. We charge an advisory fee and provide asset allocation strategies, evaluate the performance of the funds, and make changes as appropriate to support our clients’ financial goals.

The Difference Our Retirement Consultants Make

When you work with First Western Trust, you gain access to what we believe are some of the best minds in the retirement consulting business. In addition to our expertise, our retirement consulting team is supported by our Investment Policy Committee, which is made up of six leading investment professionals who support our retirement consultants in building and monitoring the investment models that we use to help you and your employees reach retirement readiness.

We serve as a 3(38) fiduciary. This means that we provide the highest level of fiduciary protection to our clients, helping to mitigate your risk as a business owner or executive named on the plan documents. By providing clear, documented processes and procedures, we give you innovative corporate retirement solutions, while protecting your company in case of audits.

Finally, our team is committed to providing superior employee education. While many companies offer only a certain number of educational events, we build our services around your needs, meeting with your employees as frequently as you would like so they are equipped with the knowledge, motivation, and tools needed to build a successful corporate retirement plan. We offer in-person presentations, webinars, one-on-one meetings to plan participants.

Customized Group Education Presentation Topics

  • Economic and Market Updates
  • Retirement planning
  • Understanding investments
  • Coping with volatile markets
  • Budgeting
  • Regulatory updates

Through our education services, fiduciary expertise, and investment knowledge, we deliver a unique platform that allows you to effectively and efficiently provide a compelling benefits package for your employees, while helping you manage your risks.

What Clients Say about Our Employee Benefits & Retirement Services

“First Western makes my job easier. I love working with you all. Thanks for all that you do for us.” – Blanca B.

What risks exist in your retirement plan? Get a custom analysis of your company’s retirement plan and find out which areas you should improve.