OUR PROCESS

A Process, not a Transaction

Plan fiduciaries are expected to have a prudent process in place to run an effective and compliant retirement plan.  This is an area where many plan sponsors need assistance.  Every business is different, retirement plans can have varying levels of complexity and we work with our clients to develop a process that fits each unique situation.

Once we’ve worked to determine the right plan design, service providers and investment arrangement the real work begins.  All too often in the 401(k) market advisors and service providers set up a plan and you never hear from them again.  This is why we say running retirement plans is a process, not a transaction.  We hope to maintain a relationship with our clients for years or decades to come and want to help you create a process that works for you long term, which may include the following:

Administrative Support

  • Reviewing objectives and options available through the Plan
  • Plan participant education
  • Development / maintenance of fiduciary audit file
  • Full Third Party Administrative service (see below for details)

Service Provider Support

  • Assist fiduciaries with a process to select and monitor service providers
  • Assist fiduciaries with fee benchmarking
  • Coordinate and assist with service provider replacement

Investment Monitoring Support

  • Periodic review of investment policy and Plan objectives
  • Assist the Plan committee with monitoring investment results

Participant Services

  • Facilitate group enrollment meetings and coordinate investment education
  • Assist Plan participants with financial wellness education

Third Party Administrative (TPA) Support

Our administration services can also be customized to your particular needs. This may include some or all of the following:

Plan Installation Services

  • Preparation of required IRS and DOL Plan Documents and Notices
  • Assistance with setup of record keeper or service provider
  • Required end of year compliance testing
  • Record-keeper conversions
  • Coordinating Plan participant disclosures
  • Enrollment of Plan participants

Ongoing Administrative Services

  • Annual report to Plan sponsor
  • Form 5500 and related schedules
  • Assistance with processing termination / hardship / loan / QDRO / withdrawal transactions
  • Calculating eligibility and vesting

We look forward to helping you build the right process for your company!  Please contact us to begin the conversation.

Call us at (619) 942-4510  to learn more or set up a consultation.

Contact Us

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