Retirement Plan Process

1. Discover

  • What is the purpose of your retirement plan?
  • How do you measure success of the plan?
  • What do your employees think about it?
  • Is it working? Can it be designed to achieve greater results?

2. Analyze

  • Benchmark your current plan
  • Evaluate vendors and plan programs
  • Determine opportunities for improvement

3. Implement

  • Develop plan Investment Policy
  • Construct appropriate Investment Menu
  • Design the plan and administrative procedures paying attention to the “Path of Least Resistance”
  • Update and execute plan documents and service agreements
  • Provide targeted employee education and enrollment

4. Manage

  • Assist with fiduciary responsibilities
  • Provide ongoing participant education
  • Offer continuous investment research
  • Plan program monitoring

Too often, companies sponsor a retirement plan that employees don’t understand or don’t appreciate. They may not know how to take full advantage of their options, or they don’t realize how valuable their plan is. As a result, a company and employees may end up paying for a plan that doesn’t benefit anyone.

We believe your retirement plan program should make your organization better. Through our process, we help you create a retirement plan uniquely suited to the needs of both your organization and your employees. Managing a retirement plan is not a one-time event; it is an ongoing strategic process that requires focus, expert guidance, and attention in order to transform a budget expense item into a highly valuable asset.

When the need arises, we take pride in our fair and equitable process in searching and monitoring for service provider partners. We begin by forming and training a representative committee. Following the creation of an effective request for proposal, we hold a qualitative review of responses and, if necessary, interview finalists. After negotiating transparent contracts, we select the investment managers. Once a plan is in place, we conduct targeted employee education and review administrator and investment manager performance on a regular basis.

Additionally, we continually measure the success of a plan. In defining success, we seek to measure the following qualities:

  • Are employees saving enough?
  • Are employees saving in quality investments?
  • Are employees’ investments properly diversified?
  • Is the employer paying reasonable fees for the plan?
  • Is the plan in compliance?
  • Does the plan have limited administrative burden?

Through our process, we aim to deliver:

  • Clear, powerful goals and an action plan to pursue them
  • Efficient and effective systems
  • Access to up-to-date information for progress assessment and plan refinement
  • Reduced liability
  • Happier employees who fully utilize and appreciate their retirement plan program
  • A more productive workforce

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The LPL Financial registered representative associated with this website may only discuss and/or securities transact business with residents of the following states: GA, FL, AL, AR.