Employer Plans
FIDUCIARY GUIDANCE
As an employer offering a retirement plan, you are a plan fiduciary with the legal responsibility to evaluate your company’s retirement plan. Since plan fiduciaries are personally liable for plan actions, we always act in the best interest of your plan and participants.
THREE SPHERES OF FIDUCIARY GUIDANCE
SERVICE PROVIDER SELECTION & BENCHMARKING ASSISTANCE
PLAN DESIGN, ANALYSIS & SUPPORT
INVESTMENT MONITORING
SERVICE PROVIDER & BENCHMARKING ASSISTANCE
It can be difficult to know which plan service providers are a good fit for your company. Each offering is different, therefore partnering with quality service providers can have an impact on the efficiency of your plan. Understanding the complex fee structures in your retirement plan can be difficult and the lowest cost provider may be the easy choice, it is important to consider cost vs. value. That is why we begin by discussing your current service providers and benchmarking their offerings to learn if they are meeting your needs.
PLAN DESIGN & SUPPORT
An effective plan design will align with your company’s goals and is the framework of a successful retirement plan. By designing a structure that matches your company’s retirement plan objectives, employers can seek to recruit, retain, and reward key employees. Only after a plan design analysis is in place can an employer really learn how many ways the company’s retirement plan can benefit the company. As advisors, we take an active role in plan design. We act as a liaison between you and your recordkeeper and Third Party Administrators (TPA) to discuss options and present possible enhancements.
INVESTMENT MONITORING
As a fiduciary to your company’s retirement plan, it is important to establish a prudent process, one that regularly reviews, monitors and assesses all aspects of the plan to confirm that the offering is in the best interest of the plan participants and beneficiaries. Part of this responsibility includes evaluating and monitoring plan investments. We will work as your investment fiduciary advisor to provide real advice on how to review your plan investments. We can support your set-up of an Investment Policy Statement (IPS), score investment funds, place funds on watch lists, help remove underperforming funds, and seek to find new investments that meet the IPS search criteria at our direction. All the while, we will work as an investment fiduciary advisor to help you make informed and actionable decisions.