We provide comprehensive employee benefit plan offerings, including health, welfare, analysis, plan design, vendor selection, negotiation, communication, implementation and continuing support. We provide best in class products and service.
Enhanced services and client resources:
For the employer, our role is to help them understand their fiduciary obligations as plan sponsors and assist them by implementing procedures for successful stewardship of these plans.
Both employers and employees have needs that go beyond retirement plans. We provide a team of specialists to provide additional financial resources as needed. This includes employee benefits, voluntary benefits, financial planning, education funding, legacy planning, life insurance, and more in order to provide holistic and comprehensive planning to help them work toward their financial goals. Our goal is to provide a positive and helpful resource for the valued employees.
Lowering Plan Costs:
Third party administrative services, record keeping platforms, plan audits when required, investment costs and advisor services are expenses associated with the operation of 401 (k) and ERISA 403 (b) plans. Having participants bear or share the cost of these is allowed provided they are reasonable considering the services provided. An understanding of any of the above that are assessed against the plan assets, and therefore the participants, is a fiduciary duty. It is not necessary to have the lowest cost but to evaluate the cost/value relationship of each component. Using benchmarking tools and our knowledge of the marketplace, we work with the plan sponsor to identify and weigh all costs. Armed with this information we are frequently able to make recommendations that reduce expenses while providing enhanced value to the plan and its participants.
The menu of investment options is at the core of 401(k) and ERISA 401(b) Plans. After all, plan participants will be choosing their own personalized mix of these investments. A major benefit of these “self-directed” retirement plans is to allow each participant to do so in a way that is consistent with their investment time horizon, financial goals, and tolerance for account balance fluctuations along the way. We believe that sufficient choices need to be available to handle the unique needs of different participants. Both actively managed options and passively managed options should be available to accommodate different preferences. Our specialists adhere to a well-defined process of picking, monitoring and replacing investment options for the plan. This exercise is carried out with the assistance of a technological solution that employs quantitative and qualitative metrics. The Plan's investments are monitored quarterly and the resulting reports are made available to the plan sponsor.