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