Ongoing Plan Servicing

Ongoing Plan Consulting

  1. Provide non-discretionary 3(21)(a)(ii) investment advice to the Company regarding asset classes and investment alternatives available for the Plan in accordance with the Plan’s investment policies and objectives.
  2. Assist the Company with the selection of a broad range of investment options consistent with ERISA section 404(c) and the regulations thereunder.
  3. Assist the Company in the development of an investment policy statement (IPS) or replacement IPS. 
  4. Assist in monitoring investment options by preparing periodic investment reports that document investment performance, consistency of fund management and conformance to the guidelines set forth in the IPS and assisting Company in making decisions to maintain, remove or replace investment options.
  5. Meet with Company’s committee’s and Sub Committees on a periodic basis to discuss the above reports and assist with investment recommendations.
  6. Provide non-discretionary investment advice assistance to the Plan Sponsor with respect to the selection of a qualified default investment alternative (“QDIA”) for participants who are automatically enrolled in the Plan or who otherwise fail to make an investment election. 
  7. Analyze and interpret ongoing reports from the Plan’s service providers and provide performance reporting. Company shall have the final decision-making authority regarding acting on any of the reports.
  8. Assist with review and due diligence of manager/fund selections, provide as requested monitoring of all fund/manager investment options in the Plan including Stable Value.  Company shall have the final decision-making authority regarding the selection, retention, removal and addition of investment options.
  9. Assist with investment fund mapping and analytical support as requested.

Plan Administration / Vendor Management

  1. Participation/coordination of preparatory calls/meetings relating to service upgrades.
  2. Plan document comparison and preparation support.
  3. Assist with communication/educational material and program design, implementation, monitoring and course correction support.
  4. Assist in plan enhancement implementation support (participating in calls, meetings, monitoring, etc..).
  5. Assist with monitoring and  support of record-keeper advice offerings and related planning services.

Monitoring and Supporting Governance

  1. Provide support to help you monitor vendor adherence to services per proposal and related fee schedules.
  2. Provide support to help you with oversight and enforcement of “At Risk Fees.”
  3. Help coordinate vendor implementation of new service enhancements and deliverables while reviewing the overall direction and progress of the Plan programs.
  4. Providing overall Plan project leadership.
  5. Support alignment of project, business strategies and other initiatives.
  6. Support Plan governance activities (e.g. steering committee meetings, status updates, etc..).
  7. Facilitate the escalation and identification of risks and any integration issues to Company.
  8. Support the Plan, the Committee and Institution  in understanding fiduciary responsibilities by assisting in the development of prudent decision making and documentation processes.
  9. Assist in determining whether the Plan’s current service provider arrangement is reasonable in respect to the price and quality of the services received in accordance with the fiduciary standards, unless not relevant in light of service provider replacement activities.

Participant Communication and Education

  1. Assist the Committee in ascertaining whether the Plan’s current employee communications program and disclosures concerning the Plan’s investment options are sufficient for the fiduciaries to meet ERISA Section 404(c) guidelines.
  2. Assist the Committee in developing specialized communications for specific employee groups such as pre-retirees, retirees, non-participants, etc...
  3. Assist as requested in coordinating group enrollment meetings with record-keeper with the goal of increasing retirement plan participation among employees and investment and financial understanding by the employees.
  4. Support communication initiatives that seek to Increase deferrals, Increase participation, Increase in prudent asset allocation using low cost investment alternatives, Encourage Larger account holders stay in plan with the goal of lowering costs to company and other plan participants.
  5. Assistance with advisory and participant education services that aim to enhance the probability of a financially secure retirement.

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