The foundation of employee retirement savings

As retirement planners, we at Main Effort Financial understand the importance of the employer sponsored plan, in particular, the 401k.  As our client base grew we recognized that the majority of our clients were either small business owners or employees of a small business.  We were determined to become experts on what could be the primary retirement income source for the majority of people we serve.  

Whether a business is looking for a 401k plan or has one they are currently using it is very common that owners don't understand how the plan works to include the total expense of the plan, how the plan works, their legal responsibilities to their employees and especially the full potential benefits of the 401k. 

We made it our mission to truly treat their 401k with the reverence and attention-to-detail that it demands.

Our Specialty

Our clients are companies between 1-200 employees who are looking for the following:

  • A solid plan that runs smoothly at a low cost
  • No ERISA or legal violations
  • Good investments and fiduciary advice on all investment operations
  • Happy employees with easy and simple web/mobile access
  • No distraction to normal business operations
  • The ability to maximize retirement savings
  • Our VISION PACKAGE™ (see below)

What our 401k plans include 

  • Comprehensive and customized plan that is managed and orchestrated for them at a competitive overall cost
  • To satisfy all ERISA requirements with respect to the plan in order to avoid any and all financial and legal issues involving the plan
  • Continuous fiduciary oversight and consulting services with respect to the investments and investment advice to participants within the plan
  • Easy and simple implementation, management and maintenance of the plan
  • Complete employee satisfaction with respect to both web and mobile access to their accounts as well as advisory services should they choose to participate
  • No distraction or interruption to business operations because of plan administration
  • The ability to take advantage of maximum savings and tax-saving opportunities as the employer
  • High participation of employees

How it works

A 401k plan has 4 primary pillars (listed below) which provide all of the service and administrative requirements of the plan.  At Main Effort we will "quarterback" the plan from the beginning and for as long as your company owns the plan.

Third Party Administrator (TPA)                                    (Writes the plan)

  • Designs plan and completes all IRS forms on annual basis
  • Compiles and provides census data to investment provider
  • Overseas recordkeeping services of investment provider
  • Coordinates with payroll services for procedure of moving monies into plan (includes record keeper and plan sponsor)
  • Overseas any loan actions taken from the plan
  • Conducts all annual census reviews and compliance testing

Investment Provider / Record keeper                        (Holds the assets)

  • Provides investment platform with all educational materials
  • Provides daily valuation of accounts
  • Creates and provides participant and sponsor statements
  • Executes and overseas all loan, distribution and withdrawal procedures to include tax documentation

Plan Sponsor (company)                                       (Company Owner)

  • Overall Fiduciary responsibility for the plan and the participants
  • Helps design plan and complete all information paperwork to implement plan
  • Provides plan contributions to investment provider electronically
  • Provides all TPA required information for testing
  • Files Form 5500
  • Overseas all loans and distributions


Financial Advisor (MEF advisory firm)            (Manages the plan)

  • Provides comprehensive coordination of entire employer sponsored plan through a dedicated plan manager
  • Fiduciary responsibility in designing, implementing and overseeing overall investment selection and investment plan
  • Selects plan appropriate investment options
  • Designs and implements participant education program
  • Conducts enrollment meetings and ongoing enrollment
  • Overseas plan contributions from sponsor
  • Provides ongoing fiduciary consulting to plan sponsor and participants on investment selections and planning
  • Create and update investment document



  • Vision statement of plan
  • TPA summary of plan type
  • Investment policy statement
  • vendor proposal summary with recommendation
  • Comprehensive cost sheet
  • Implementation and review calendar

Please call 508.893.9990 and speak directly to our 401k support team for more information or email Sharon Doherty-Clancy at sdclancy@maineffort.com to find out more.