Five essential steps to retirement plan success
Our team uses the following steps to help our clients meet the retirement plan needs of their participants and organization.
1. Plan design and coordination tools
Design and implement a plan that balances the needs of the employer and the participants. The goal is to provide a best-in-class 401(k) plan; one that reduces administrative burden and will provide the desired flexibility to produce the best participant outcomes.
2. Fiduciary consulting
Implement a fiduciary governance process that is aligned with best practices. Our service model provides §3(16) and §3(38) fiduciary services as well as a directed trustee. This approach delegates as much fiduciary risk to other parties as the law allows.
3. Investment consulting
Provide highly rated, low cost institutional asset class funds and broadly diversified risk-based model portfolios. We never use proprietary products and do not receive compensation from investment product providers.
4. Participant success
Help participants understand the importance of participating in the plan. Offering things like auto-enrollment, auto-escalation, qualified default options (QDIA) and auto-rebalancing are some of the available opportunities to lead them down the path of financial success.
5. Engaged participation education
Teach employees to make better and more confident decisions. Online retirement readiness education and calculators increase engagement and confidence. This approach often leads to better participant outcomes.