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The Importance of Plan Governance

A 401(k) or other qualified retirement plan is a necessity for many companies who wish to remain competitive and improve employee satisfaction and retirement readiness. Yet because of a business owner’s many other needs and tasks, managing and improving a plan is often pushed off. However, as the plan sponsor, their fiduciary responsibility demands authority and a high level of responsibility that can’t be neglected. This is where the help of a retirement plan consulting firm comes in, providing plan governance to consistently manage the retirement plan to keep it running efficiently and effectively.

Retirement Plan Consultant Checklist

As a plan sponsor, you know the importance of providing a well-managed retirement plan for your employees. You are also aware of how much time and energy it takes to organize and administrate such a plan, not to mention the fiduciary responsibility that goes along with it. As a result, you may turn to a retirement plan consultant to provide expertise, objective guidance, and service. Your business and your employees are a high priority, so you don’t want to choose just any consultant. How do you know if your consultant is the best fit for your business? Is there a way to ensure they are doing their job and improving your plan? Use our retirement plan consultant checklist below.

PlanPILOT Offering OCIO Search Services

If your company or non-profit is looking to outsource Chief Investment Officer services, you aren’t alone. Demand for Outsourced Chief Investment Officer (OCIO) services has skyrocketed, particularly among non-profits, driven largely by a strong desire by asset owners to increase returns. According to a 2016 Outsourced-Chief Investment Officer Survey, 41% of respondents currently outsource or plan to outsource in the next 12 months, and 70% of OCIOs granted full discretion over manager selection, compared to just 39% last year. PlanPILOT now offers OCIO search services to help you find the right provider.

The question is, why are OCIO services in greater demand than ever?

How to Select Target Date Funds for Your Retirement Plan

Target date funds are popular options for employer-sponsored retirement plans. As the name suggests, target date funds are chosen based on the estimated year you plan to retire. For example, an employee who is about 14 years away from retirement would choose a 2030 target date fund. In this type of fund, the investment strategy is tailored to be more aggressive the further you are from retirement and become more conservative as you get closer to your “target date”.

Five Steps to Ensure Financial Wellness for Your Employees

You’ve probably heard the term “financial wellness” being thrown around in business circles, as a way for individuals to describe a sense of financial security, of understanding their financial options, and building a monetary foundation in order to pursue future goals. But what ways can you, as plan sponsors, ensure financial wellness for your employees?