Let our team of independent retirement plan experts help you assess the compliance, regulatory and performance health of your plan. Please contact us to schedule a complimentary Plan Profiler.

WHAT IS WORKING IN YOUR PLAN?

• Plan design – Employer match is creating an incentive for employees to save
• Plan audit – You have received a clean opinion
• Plan documents – Are updated according to current laws and regulations
• Bonds and insurance – Have a fidelity bond and fiduciary liability insurance
  

WHAT IS NOT WORKING IN YOUR PLAN?

• Fiduciary responsibility:
  • Remittance of employee contributions not made timely
  • Investment Committee minutes are not being recorded
  • Investment Policy Statement not monitored and updated regularly
  • Education Policy Statement is not in place
• Investment options:
  • No independent analysis of plan investments
  • Higher mutual fund fees than industry average
  • Large percentage of assets in default investment or money market funds
• Compliance testing – Failing non-discrimination tests; refunding contributions
• 404(c) ERISA compliance – No evidence of meeting all 404(c) requirements
• Plan education – Employees are not adequately educated about Plan features
  and investment options
• Plan design – Not achieving Plan goals because using a Prototype document
• Website – Participant site not user friendly; offers no sponsor website