The retirement plan industry is ever-evolving and keeping up with all the rules and regulations is time-consuming. What’s more, plan options and benefits, plus fiduciary responsibility and administrative oversight require specialized expertise. Yet, plan improvements can impact your bottom line in terms of time and cost savings, participant retirement readiness and overall employee satisfaction.
To help you realize the most from your plan, consider maximizing our partnership! A recent survey of 400 retirement plan sponsors shows “professional retirement plan advisors are central to the strategic direction, administration, and overall performance of the retirement plans they manage,” according to EACH Enterprise and Transamerica.
Remember, your plan is unique and it should address your needs and goals. Studies show that partnering with an advisor can benefit your entire 401(k) plan by identifying, acknowledging, shaping a solution that meets your parameters and helps your employees save for the future. Specifically, I can help you with the following:
- Retirement outcomes
- Plan design
- Understanding of fiduciary issues
- Confidence about fiduciary responsibilities
- Plan investment options
- Plan compliance
- Participant engagement
- Participant readiness
- Deferral rates
- Participant asset allocation
- Administrative fee evaluation
- Plan arrays
- Overall plan administration
As the EACH Enterprise and Transamerica study shows: “Professional retirement plan advisors are focused on improving outcomes for plan sponsors and their participants.
To this end, they implement a number of creative plan design adjustments such as changing employer match formulas, utilizing automatic enrollment, and increasing default deferral rates to achieve better plan results.”
Let’s talk about ways I can help improve your entire 401(k) retirement plan.