This article walks you through how to set up a client’s 401(k) account, add employer match details, save settings, and review contribution breakdowns in Voyant.
Click the (+) from the dashboard and select Retirement Plan.
Enter The Basic Details of your client's 401(k) Account (example below)
Contribution Type Options
Under Contribution Type, you can select one of the following:
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Amount – Enter a fixed dollar amount.
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Amount with Inflation – Enter a fixed dollar amount that will increase annually with inflation.
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% – Enter a percentage of income.
Note:
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The software automatically enforces IRS contribution limits, which are updated annually to reflect legislative changes.
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It also considers the client’s age to determine eligibility for catch-up contributions.
Employer 401(k) Match Setup Instructions
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Employer Contributions
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Select “Yes” if the employer offers contributions. No, if they do not.
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Employer Contribution Type
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Choose “Matching” if the employer offers matching contributions.
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Matching Contribution (%)
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Enter the percentage of contributions the employer matches.
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Example: If the employer matches 100% of employee contributions (up to a limit), enter 100 here.
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Matching Income (%)
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Enter the maximum percentage of employee income eligible for the match.
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Example: If the employer matches 100% of contributions up to 4% of income, enter 4 here.
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Saving Employer Match Settings
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Click Save.
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The software will automatically assume the client stops contributing to their 401(k) at age 65 or at their scheduled retirement age, whichever comes first.
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Important Note:
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If the client isn’t contributing enough to take full advantage of their employer’s match, this can be a great opportunity to highlight during a presentation.
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Use “What If” plans to show how maximizing contributions could help if they are facing a retirement shortfall.
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Click Done to finalize your changes.
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You will be returned to the dashboard screen.
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The 401(k) will now appear in the Retirement section, where you can view and access it.
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(See example below.)
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Viewing Employee vs. Employer Contributions
To see a breakdown of contributions made by the client and their employer:
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Go to Year View > Retirement.
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Select the 401(k) account from the list of retirement accounts.
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Open the Contributions section from the drop-down menu.
Here, you’ll see a detailed breakdown of employee contributions versus employer contributions.
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Tip: If your client changes their retirement age, contribution assumptions will update automatically.
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Tip: Use “What If” plans to illustrate the long-term impact of maximizing contributions.
You’ve now successfully set up a client’s 401(k) in Voyant. From here, you can continue building out their retirement plan or run “What If” scenarios to explore different contribution strategies.