Corporate and Not-for-Profit Retirement Plan Advisory

Investing Process

We always want to begin with the investment basics – such as having an Investment Charter or Policy Statement, offering professionally managed asset allocation options, and engaging a prudent expert to serve as a investment fiduciary – are in order. We then document an appropriate Qualified Default Investment Alternative (“QDIA”) selection process, especially when the recordkeeper and QDIA product manufacturer are one and the same. Stable Value is one of the most unique offerings in qualified retirement plans and we offer plan sponsors a 10-point measurement of the most critical evaluation criteria specific to the asset class. Lastly, cost matters! Do you have the proper share classes and fees commensurate with your Plan’s purchasing power? This is an ongoing exercise and we optimize active and passive implementation across a series of appropriate asset classes.

Plan Governance

In 2017, the Department of Labor (“DOL”) conducted 1,707 investigations with 65% resulting in violations. More than $1.1 billion were collected by the DOL in fines and monetary recoveries. We conduct a 35-point assessment focused on Plan Governance. We begin with the fundamentals such as ensuring the Plan has a Fidelity Bond, timely Form 5500 IRS filings, and audited financials. We extend our assessment by reviewing the Plan’s forfeiture policy, identifying any prohibited transactions, and installing a training process for fiduciaries with plan governance responsibilities.

Participant Outcomes

Defined contribution plans [401(k) and 403(b) plans] have shifted from being supplemental retirement savings programs to the primary retirement savings vehicle for most Americans. Your employees’ outcomes should be measured for their progress and that requires a thorough review your Plan design and other settlor functions uniquely determined by the employer. This includes evaluating automatic plan features , catch up contributions and the Roth salary deferral designation. We help employers achieve optimal employee outcomes by incorporating customized Financial Planning at the worksite with professional financial coaching reinforcements. Our style of engaging employees is one focused on developing simple action plans for future success.