A Healthy Retirement Plan Means Peace of Mind for You and Your Employees
Your 401(k) plan should be a benefit that helps you attract and retain quality employees. As the plan sponsor and fiduciary, you have the task of providing this benefit in an efficient and effective manner for the company and its employees. As a 3(38) Advisor, our strategy for achieving this goal and superior plan health for your employees lies in our proprietary offering, FiduciaryPlus™. Each of these six focus areas is important to a healthy plan; otherwise, you will have gaps that can put your company and employees at unnecessary risk.
The resulting benefit for the company and you as the plan sponsor is a plan that is:
- Cost effective
- Valued by employees
- Less stressful on your professional workload
- Department of Labor audit ready
- Limiting of company and personal fiduciary liability
Every company is unique and so is every retirement plan. Creating a plan to meet the needs of your company and your employees is the basis for effective plan design.
A well-designed plan addresses key issues for business owners such as; maximizing tax-deferred contributions, selecting the appropriate type of plan, and ensuring employee costs remain reasonable. Learn more »
An often-overlooked component to the health of a retirement plan is the ability for your employees to retire on time and financially secure. One of the most cited reasons for a failing retirement plan is the lack of a clear savings and investment strategy for participants. In addition, ongoing personal advice and support for retirement is crucial. That is where RPS Retirement Plan Advisors comes in. Learn more »
ERISA takes your role as a plan fiduciary very seriously. There are compliance requirement that can be complicated and punitive if not followed properly. RPS provides peace of mind by ensuring you are meeting all of your duties as your plan’s fiduciary. Learn more »
Your duty to provide an effective retirement plan includes making sure the services provided by your vendors, like the record keeper and fund companies, are delivering real value to your participants. RPS has extensive experience in evaluating and monitoring vendor fees and services. We will help you select and manage your service providers to ensure you are fulfilling your fiduciary duty. Learn more »
Providing your employees with quality investment choices is critical to their ability to reach Retirement Readiness and a cornerstone of your fiduciary responsibility as a plan sponsor. If you do not have internal expertise in the selection and monitoring of investments specific to defined contribution plans, Department of Labor regulations require plan sponsors to seek the services of a qualified third party. Learn more »
Determining if your 401(k) plan is cost efficient for your employees and how it measures up from a competitive nature of delivering a valuable benefit to your employees is important. Fees aren’t the only consideration but they are important. And there is more to the total cost of a plan besides explicit, billable fees. Learn more »