Building an Ideal Investment Fund Lineup

Building an Ideal Investment Fund Lineup

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Plan sponsors know that offering a retirement plan is important not only to attract and retain loyal employees, but to ensure they are retirement ready. There are many moving parts to the retirement plan, including enrollment, plan education efforts, building the investment fund lineup, staying compliant with the DOL and ERISA, and making distributions. Particularly, building an ideal investment fund lineup is a multi-stage process, and for many sponsors, the prospect of selecting the investments to be offered in a plan can seem overwhelming. With thousands of investment funds available to choose from, creating the right mix for your employees can be difficult.

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Why Plan Sponsors Need a Retirement Plan Consultant

Why Plan Sponsors Need a Retirement Plan Consultant

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Offering a thoughtful retirement plan can provide many benefits to an organization. It can have a significant impact on the hiring and retention of key employees as well as improving employees’ retirement readiness. However, the retirement plan space is complex. Trying to develop and manage a plan while complying with the constantly evolving legal and regulatory environment is not easy. Plan sponsors are held to a number of regulatory and fiduciary obligations, and failure to advocate on behalf of its plan members’ best interests can be subjected to hefty civil fines and penalties. Many sponsors lack the expertise to manage their retirement plan and fulfill their fiduciary obligations. This is where the need for a retirement plan consultant arises. Learn the key areas of service that retirement plan consultants can provide and why many organizations choose to hire one.

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The Increasing Growth of Fiduciary Advisors to Plan Sponsors

The Increasing Growth of Fiduciary Advisors to Plan Sponsors

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Employer-based retirement plans are a major benefit to employees, especially in today’s job economy where 401(k) or 403(b) plans make up the majority of employee retirement savings. A 2018 survey from the Plan Sponsor Council of America found that 70 percent of companies retain an independent retirement plan advisor, which was 66.8% in the prior year. There are several factors that lead to this growth, such as overseeing the delivery of investment advice to participants by way of registered investment advisors (30.8 percent), certified financial planners (28.8 percent) or third-party web-based providers (20.2 percent). Let’s look at why companies hire plan advisors, why they should care, and tips to find the right advisor.

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Why Your Retirement Consultant Matters

Why Your Retirement Consultant Matters

Posted on by Mark OlsenLeave a comment

The top financial concern for most Americans is not having enough money for retirement. This is a real worry for about ⅔ of workers. As a retirement plan sponsor, you can help combat those fears. Sponsoring a retirement plan is a big responsibility. Are you up to the task? Do you feel that you have the knowledge and expertise to design and run a plan that will maximize participant savings? Most plan sponsors don’t. So they hire a retirement consultant.

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The Key Services a Retirement Plan Consultant Should Provide

The Key Services a Retirement Plan Consultant Should Provide

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A retirement plan consultant plays an important role in your business, helping you follow fiduciary responsibilities, mitigate risk, and provide an appropriate plan based on cost parameters and employee needs. Businesses rely on consultants to provide objective and knowledgeable guidance, advice, and service.

The extent of services provided by retirement plan consultants can vary significantly; therefore, in searching for an advisor, it is best for you to look for the services most optimal for your plan’s specific needs.

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