Retirement Plan Consulting
Retirement plans should involve two sets of reviews:
Employees who review their investing progress
AND
Employers who review their retirement plan offerings
In Our Experience, Neither Happens As Often As It Should
As fiduciary guides, we provide comprehensive service to help evolve plans and support improved outcomes for everyone from the CEO to entry-level workers.
The design of your plan can make or break its success. Whether your goal is to improve participation, compliance issues or employee retention, we tailor our approach accordingly.
What You’ll Receive:
- Education and best practices to help improve retirement outcomes
- In-depth plan design recommendations and a roadmap for implementation
- Assurance that critical components, like automatic enrollment, employer contribution matches, eligibility and others align with your plan’s objectives
- Proactive design updates during Fiduciary Plan Reviews
The provider you chose, likely years ago, may not be the best fit for your plan — or company — today. We provide objective analysis to find the right fit.
What You’ll Receive:
- An initial review and benchmark of your existing provider
- Relationship management with your selected provider to resolve issues
- Plan provider evaluation through Requests for Proposal (RFPs) every 3-4 years
Investment oversight is a core fiduciary responsibility — one that affects employee engagement and can influence plan performance.
What You’ll Receive:
- Custom Investment Policy Statement (IPS) design
- Objective analysis of target date funds and Qualified Default Investment Alternatives (QDIAs)
- Behavioral psychology tactics to help minimize employee confusion while encouraging engagement
- Quarterly Investment Scorecards to promote consistency with your IPS and overall goals
Your senior execs, Human Resource professionals and retirement committee members often bear fiduciary standards. But many lack proper training that opens you to liability.
What You’ll Receive:
- Education on fiduciary roles and responsibilities
- Implementation of governance policies and procedures
- Deliverables to help strengthen documentation of all fiduciary decisions
- An annual (at minimum) Fiduciary Plan Review focused on evaluation of plan details and operational processes
- Fiduciary guidance under ERISA Section 3(21)
- Creation of an online “Fiduciary Safe” to access plan documentation for any reason
Administrative tasks associated with retirement plans can overwhelm payroll and Human Resource professionals, especially if employee engagement is high. We help lighten the load.
What You’ll Receive
- A comprehensive review of your existing processes and technology
- Recommendations to streamline your retirement plan’s administrative processes
- Education and training of administrative staff as needed
As fiduciaries, we take it upon ourselves to gain a full understanding of your retirement plan’s fees— and whether or not they’re reasonable for the services provided.
What You’ll Receive:
- A short and simple breakdown of your plan’s total annual fees, benchmarked against industry averages
- Fee negotiation with service providers to help deliver better value
- Cost-reduction measures to help maintain your plan’s quality
- Discussions with providers to enhance their service offerings
We believe a plan is only as successful as its participation. Our goal is to help your employees become more “retirement ready.”
What You’ll Receive
- Employee-focused education programs that aim to make them more confident about their future
- Virtual and in-person learning sessions at intervals of your choosing
- Clear, concise and effective materials explaining retirement plan details, meetings and education
- Periodic review of employee participation and engagement data, conducted as needed or in connection with an annual plan review, to inform education and plan design discussions
