Employer Sponsored Retirement Plan Model
Supporting your fiduciary responsibilities
When you sponsor a retirement plan you assume certain fiduciary responsibilities. Our retirement plan advisors will help you fully understand these responsibilities to help your plan run in a compliant manner. We can also assist you with some of the more burdensome fiduciary obligations, allowing you to focus on your business.
The right platform
Once we have determined the goals of your plan, we put together a team of professionals who are best able to address these goals. The Levy Wealth Management Group team will help you choose the platform that provides a quality investment lineup, administrative process and participant services that are appropriate for you and your employees. In addition, we help you develop a process to monitor and review your Investment Policy Statement (IPS), and monitor your plan’s investment selections through ongoing analysis.
Outstanding client service
We will coordinate everything from enrollment meetings, investment recommendations, periodic review meetings and general support of your plan. Your advisor will periodically meet with the plan’s trustees and participants in an effort to ensure that the plan objectives are being met.
Full documentation through a respected third-party administrator
In situations where a Third-Party Administrator (TPA) is being utilized for plan design and compliance oversight, we will work with them as a liaison as they facilitate drafting plan documents, distribution processing, annual valuations and tax reporting. Our goal is to support the day to day operations of your retirement plan to ensure your goals and objectives are met.
Encouraging employee awareness
We will customize participant education to address your plan’s employee demographics in order to encourage participation in the plan. As a result, your communications plan will speak directly to your employees in their language, clearly demonstrating to them the benefits of retirement preparation, and motivating them to become “retirement ready.”
Fee Monitoring and Benchmarking
We completely explain all fees associated with your plan, and work hard to ensure that they are not only within industry standards, but provide maximum value. We will help facilitate the Request for Proposal (RFP) process for all appropriate vendors based on your unique profile.
We strive to remain fully up-to-date with industry, legislative and regulatory changes. In conjunction with the TPA and the investment platform, we will work together to help you ensure your plan is managed efficiently and effectively.
These provisions may include, among others:
- Entry dates
- Vesting procedures
- Timely distribution of required notices
- Timely contributions