Corporate Retirement Plans
Theres no one-size-fits-all approach because objectives are different for you. We deliver corporate retirement plans to encourage saving practices, acquire financial planning knowledge, and identify the available resources to achieve profitability.
Advantages & Importance of Corporate Retirement Plans
We are fiduciary asset managers acting in your best interest. We believe that our value is second-to-none, but the fee for that value needs to be capped. We know keeping our fees and all the plan fees reasonable is the best way to serve your plan participants.
Defines Long-term Goals
The retirement plan is the gauge that tells an employee if they can retire or not. It is the main long-term goal planner for employees.
The tools on the plan websites and the tools we give them at the advisor help employees start to understand finances. We help them create budgets and understand their cash flow.
Improves Operational Efficiency
Having a plan that runs the way it should, helps improve operational efficiency. We help show how retirement plans are the driver for payroll, healthcare, and workers’ compensation. All these benefits need to be looked at together and not in a vacuum. The retirement plan will help keep all these costs in check as the employee base ages.
Encourages Better Decision-Making
The retirement plan gives an employee somewhere to put their money before they get their hands on it. Most employees recognize they need to be saving and the plan helps with that decision.
Prevents Ambiguity (fees)
Too many articles have been written about the hidden fees in retirement plans not to address them with employees. I find the more transparent the fees are, the more the employees understand and trust the reason to save.
As advisors on the plan, we constantly benchmark our progress to make sure we are moving the needle towards a better retirement for the plan participants.
THE PATH TOWARD A CORPORATE RETIREMENT PLAN
THE PATH TOWARD A CORPORATE RETIREMENT PLAN
Call or email to discuss your retirement plan and what isn’t working. Often, it’s just the advisor, but sometimes a provider change is necessary. We are a plan fiduciary that will work in your best interest.
Strategic Path reviews your corporate retirement plan’s potential pitfalls. Our report includes data from the Form 5500 and other sources. This is a good starting point just to see what current information is out there about your plan.
Review the current document and funds, formalize a retirement committee with documents, and finalize all paperwork and the fiduciary status for the plan.
Meet with all employees to discuss the retirement plan and address retirement, Medicare/Social Security, debt/credit, personal investing, and our complimentary consultations.
Enable access to a secure fiduciary vault that holds all plan documents, quarterly investment reviews, educational material, investment policy statements, fee benchmarking, and our transparent advisor fee analysis.
Corporate Retirement Plan Services
With a thoughtful and comprehensive approach to assisting with corporate retirement plan design, we bring decades of knowledge and experience that have guided organizations of every size.
One of the areas we often help our clients is with their plan audits. The fiduciary vault is our secure, password-protected portal where all the relevant retirement information is stored. The virtual vault will help your committee manage meeting minutes, educational materials, fund analysis, fees, and documents.
Committee Level Formalization Assistance
We spearhead the process of forming a retirement committee. We formally do this by signing paperwork that establishes By-Laws, Conflicts of Interest, Fiduciary Acknowledgement, and Assignment of Officers.
Investment Monitoring / Investment Policy Statement (IPS) Assistance
We use a third party to analyze all the plan investments. This scoring system ties directly to the Investment Policy Statement that we have signed as a committee. We have the process of putting funds on a watch list and eventually replacing them if needed.
Participant Education and Advocacy
We get our hands dirty in areas that other advisors do not want to go. We help with student debt, help with credit, work on getting overall debt in order, discuss college savings, emergency funds, social security, and offer complimentary consultations. We have a website, focusonfinanceliteracy.org, dedicated to our mission of helping people understand money.
Plan Design Assistance
Getting the plan document correct is one of the most important parts of the plan process. We work with many plans and see many different options. We help guide you to develop the plan that is right for your employees.. We will make sure the document is an extension of your vision of the perfect plan.
We always hear that the fees have to be reasonable in light of the services offered. As plan fiduciaries, we make sure that our fees are always in line. We will discuss those fees at all committee meetings, and we will cap our fees once our hourly rate is met. We do not keep making more money based on increased plan assets.
Capped Advisory Fee based on plan assets
What do capped fees mean? It means that we have an amount per plan that we need to make to be profitable. As soon as we reach that amount, we cap our fee so that no more is charged beyond that fee. We have all the fees spelled out to show our committee members. We are plan fiduciaries, and we take that role very seriously.
Key Man/ Buy Sell/Deferred Comp
We not only help plan participants retire, but we help company owners transition to retirement. Sometimes that transition can take on many different forms. We help guide those conversations for “what’s next”. View Key Man Definition
Provider Selection Assistance
We do not sell any product, so we do not have any specific provider that we must use. We look at your plan, your interests, and our knowledge to help guide the committee to the best provider option. Sometimes the plan can stay right where it is and just make some adjustments, but sometimes a change is needed. We work with you to decide which is best for your situation.
The financial future doesn’t have to be complicated
Strategic Path offers Literacy Programs for better retirement planning and strategies for your team. These topics help employers and employees feel more confident about their retirement planning process.
Planning for your financial future with effective Corporate Retirement Planners doesn’t have to be complicated. An owner or CFO of a mid-size business, human resource director of a large corporation, or executive director of a non-profit, your business and its employees have unique needs. Not only are you planning for the future of your business, but you are also planning for your employee’s future.
Your employees are the reason for your success.
- Understanding 401K Plans – IRA’s –Pensions
- Budgeting is a Necessity
- Get Credit Right
- Financial Literacy 1-2-3
- Financial Planning Basics
- First Time Home Buying
- Understanding Credit Reports & Scores
- Transitioning into Retirement
- Optimizing Social Security
- A Non-Financial Look at Retirement (Where is your time spent?)
Take The First Step to a better corporate Retirement plan
Let’s gather some basic information about your company. It’s simple, and there’s no obligation after your complimentary consultation.