Broker Check

Plan & Vendor Evaluation/Presentation Services

Retirement Plan Needs Assessment

Has your plan kept pace with the needs of your business and the speed of technology? Are statements going out in a timely manner? Are you satisfied that you have all the necessary requirements in place for 404(c) compliance? Is your plan a benefit worth talking about? If you worry that your plan is falling short in the services you receive, or the technology, plan features and investment options it offers, it may be time for a change. We can help you to evaluate your existing plan(s), plan provider(s), plan features, and investment options to ensure that your company is providing a valuable and competitive benefit for your employees.

Thorough Vendor Search

Do you have the time, resources, and experience to conduct a diligent search process? The landscape of service providers is rapidly changing and evolving. In addition, technology has greatly altered some of the features available in some 401(k) offerings. We are in frequent communication with service providers and can help you objectively evaluate each program’s strengths and weaknesses. Armed with knowledge and experience as well as an understanding of your employees and company’s needs, we can often save you time and avoid costly mistakes in the vendor search and selection process. During the vendor search, we can provide the following services:

Solicit proposals and help evaluate each option based upon agreed criteria
Assist in identifying those service providers whose solutions match your company’s need
Invite a select few service providers to present their program in more detail

Plan Type Selection & Plan Design Support

Are you comfortable selecting and designing your company’s retirement plan without any assistance? When selecting and designing a retirement plan, a plan sponsor must consider such issues as employee demographics, the goals and challenges of the company, and the financial implications of offering a plan. Some plan design decisions and provisions are irrevocable, meaning they can only be changed by terminating the plan. Other changes may require plan document amendment and filing with the Internal Revenue Service. The process can be overwhelming. We can work closely with your company’s various stakeholders to sort through the different options. This assistance can be invaluable in matching your company’s needs with service providers’ programs and features.

Support on Finalist Presentation and Vendor Selection

When you evaluate your final choices, how can you be sure that you are asking the right questions and not being misled? For starters, we can present service providers with solutions that address your identified needs. We will be your advocate as you invite sales professionals to present their programs. You can gain the advantage of our experience in these meetings as we raise important questions and provide illustrations as you come to a final decision. Once you are comfortable that you have done your due diligence, we can support you in taking the next steps to implement your plan.