Why Plan Sponsors Should Hire a Retirement Plan Consultant

Why Plan Sponsors Should Hire a Retirement Plan Consultant

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Many plan sponsors lack the expertise to effectively manage their retirement plan and fulfill their fiduciary obligations to plan participants without some outside assistance. This is where a retirement plan consultant can be invaluable. Plan sponsors rely on consultants to provide knowledge and expertise. No two plans are alike—and the same can be said of retirement plan consultants. Learn more about why plan sponsors choose to hire a retirement plan consultant, as well as a few of the questions you’ll want to ask if you’ve determined that you need one.

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What Plan Sponsors Should Know About the Plan Document

What Plan Sponsors Should Know About the Plan Document

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ERISA requires all retirement plan sponsors to have a written plan document to formalize how their unique plan will operate. Operating a retirement plan without this key document can open up your business to significant liability. Why is the plan document so important, and what elements should be included in your organization’s plan document?

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Evaluating Your Plan's Recordkeeper

Evaluating Your Plan’s Recordkeeper

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Your fiduciary responsibility to your plan participants includes periodically evaluating your plan’s recordkeeper to ensure their processes facilitate the correct execution and reporting of transactions, adherence to federal and state regulations, in addition to the reasonableness of fees in relation with the quality of services provided. With that said, it is important to periodically assess your current recordkeeper. Learn more about the role a plan recordkeeper plays and some of the factors plan sponsors should consider when choosing and evaluating a recordkeeper.

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Help Participants Stay On Course in Turbulent Times

Help Participants Stay On Course in Turbulent Times

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The recent stock market turbulence associated with the coronavirus disease (COVID-19) has been described as a crash, a “meltdown,” and a “disaster.” Even investors who are committed to staying the course can find it hard to overcome the uncertainty of what lies ahead. Plan sponsors can help participants to stay the course by reminding them that short-term market fluctuations, even unprecedented ones, should not affect their long-term investment goals. Learn more about what plan sponsors should do to calm jittery participants and help them stay on course.

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Securing Retirement Plans: Cybersecurity Best Practices

Securing Retirement Plans: Cybersecurity Best Practices

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Trillions of dollars are held in US retirement accounts, according to the Investment Company Institute. This tremendous value in assets is a tempting target for those seeking to compromise personal data or gain access to these accounts. And with plan participants becoming increasingly reliant on mobile apps and online platforms to access and monitor their retirement funds, it seems that more cyberattacks on retirement plans are inevitable in our digital world. Plan sponsors and their fiduciaries should consider taking proactive steps to protect their participants and their plan assets. We review retirement plans cybersecurity best practices that plan sponsors should consider to adhere to safeguard against cyberattacks.

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