Every plan sponsor has unique goals and objectives. As your retirement plan consultant, we will work with you to customize plan design features and plan investment options that are right for you and your employees, including an ongoing service plan specific to your needs.  We work in partnership with you to reduce your administrative burden and to provide tailored investment options, technical guidance and participant communication/education.

 

We begin by identifying your retirement plan goals and conducting a Benchmarking Analysis to determine your plan’s competitiveness with respect to costs, services and investments to identify ways to improve your plan’s operational efficiency. We also perform an analysis of your service provider to make sure that as a plan sponsor and decision-maker, you have made an informed decision about the selection of your provider. Then we work with you to conduct investment due diligence to make sure you have appropriate investment options at a competitive price. 

 

Once the right provider is on board and the appropriate investments are selected, we’ll work with you to do an in-depth plan design review.  We oversee plan implementation, including development of a high-touch employee education/communication program to help ensure your employees are working toward their retirement goals. We provide consistent, ongoing monitoring of all aspects of your plan throughout the plan year to ensure operational efficiency and minimize fiduciary liability.

 

 

Ongoing and Annual Plan Review – We will conduct an in-depth annual review of your plan features and expenses, and make recommendations to help ensure your 401(k) plan meets your needs and is competitive in the marketplace. We will provide ongoing monitoring to ensure efficient and effective operation of your retirement plan. 

 

Plan Design, Compliance & Legislative Support – We act as a liaison with your service provider to oversee many aspects of plan design. We also keep you informed of any legislative changes that may impact your plan.

 

Investment Analysis and Services – We will conduct a thorough analysis of your plan’s investment portfolio and implement a comprehensive process to select, monitor and, if necessary, replace investments to meet the needs and risk tolerance of you and your employees.   Some plan sponsors select plans that include professionally managed participant accounts.

 

Fee Benchmarking Analysis, Provider Search & Negotiations - Transitioning to another 401(k) provider can help reduce your costs or increase the level of service you receive, but the process can often be confusing, time-consuming and burdensome. We determine bid specifications and conduct in-depth provider searches, then review and analyze proposals to provide you a detailed vendor fee and service comparison. Once a provider is selected, we serve as your advocate in ongoing negotiations to identify opportunities for improved service, technology and expenses.  

 

Employee Communications & Education – We will develop an education program to assist your employees with investment decisions to help them reach their individual retirement goals, including one-on-one meetings and a variety of educational seminars. Our goal is to maximize the number of participants in your plan to ensure the success of your plan and increase the value of your investment.

 

Additional Value-Added Services – We oversee installation of new plans and coordination of the conversion process for existing plans, including transfer of assets and all plan and participant records. We develop a customized Service Agreement so that you know what to expect from us as we work together, and we will work with your human resources team to facilitate seamless day-to-day operations of your plan.

 

Please contact us for a complimentary assessment of your retirement plan at (888) 552-2800 or Inquiry@TheSourceFinancial.com.  Our analyses examine total plan costs and provide detailed comparison of administration, recordkeeping, compliance, investment management and employee communications costs and services.