The 401K Concierge Retirement Plan Solution
The 401k Concierge has developed a comprehensive six step solution to your retirement plan design and implementation.
Step One: Retirement Plan Evaluator
- Evaluate current plan design, expenses and adherence to policies and procedures
- Evaluate current enrollment and contribution levels
- Evaluate plan expenses
- Evaluate investment performance
- Benchmark plan against industry standards
Step Two: Retirement Plan Optimizer
- Research and develop comparability studies of current plan vs. market options to ensure best overall plan
- Systematic search process that examines all the industry has to offer based upon your plan’s needs.
- Manage RFP process to ensure that you receive information on products that fit your specific requirements.
Step Three: Fiduciary Shield
- Drafting of Investment Policy Statement
- Review Fiduciary checklist to ensure compliance with ERISA regulations
- Review 404C Fiduciary checklist to ensure compliance with 404C regulations
Step Four: Due Diligence
- Independent, unbiased investment selection
- Annual plan review of administration, fees, investment performance and testing requirements
- Review plan vs. objectives
- Independent quarterly fund performance monitoring using Morningstar
Step Five: Education/Enrollment
- Personalized enrollment and communication programs
- Customized group and individual educational meetings with participants and executives
- Access to Waterstone’s Exclusive “Financial Wellness Programs”
- Dedicated contact point to provide ongoing service to plan sponsor and participants
Step Six: Monitor/Update
- Systematic Reviews of plan based on clients needs (Quarterly, Semi-annual, Annually)
- Updates on industry regulations and trends
Retirement Plan Components
Investments
Results vs. Peer Group
Low expenses
Broad mix of asset classes
Quality Recordkeeping
Timely
Accurate
Efficient
Reasonable Fees
out of pocket
hidden expenses
Financial Education
Personalized
Increased participation
Retention of employees
fiduciary shield