An effective employer sponsored retirement plan is comprised of five important components. Any one part of the wheel functioning incorrectly can have negative consequences ranging from lack of participation and compliance, to fiduciary liability for those company personnel overseeing the plan. As licensed fiduciary advisors, we consult on every component in the wheel, assuring that your plan meets goals and expectations, checks compliance, and benefits employees.
- Plan Design – Our clients’ plan designs meet goals and objectives of specific corporate culture and remain current with regulations and changing laws. We provide unbiased solutions by comparing key plan attributes with those from industry and similar size peer groups
- Vendor – Our clients’ goals and best interests drive our vendor selection process. By utilizing our proprietary vendor comparison tool and industry benchmarking, we have the ability to present a side by side, comprehensive comparison of viable options. Our years of vendor relationship building allow us to negotiate the best possible outcomes for our clients and their participants as well.
- Investments – We develop an Investment Policy Statement (IPS) that ties directly to our quarterly investment monitoring reports to support the detection of portfolio changes. We meet regularly with your Investment Committee to review findings, assess participants needs and facilitate fund changes. FRS also provides meeting minutes to document the decision-making process.
- Fees – Fees matter! Plan sponsors have a fiduciary responsibility under ERISA to determine if the fees, paid by a plan to its service providers, are both reasonable and necessary. Our clients’ fees are disclosed, benchmarked and evaluated regularly to ensure compliance, value and impact.
- Education – Communication and education is critical to the success of any retirement plan. Target content, group seminars/webinars, customized videos and technology, as well as requested one-on-one advisor meetings allow us to deliver an education program tailored to your company demographics.
The Retirement Doctor is In
With decades of experience in every aspect of plan design, administration and investments, Mike Rogers offers wisdom and advice to fix any retirement matter. If you submit a question below, the doctor will be in touch with his diagnosis.