Plan Management Roadmap
A path to positive outcomes
Through our consulting process and Plan Management Roadmap, we work with you on an ongoing basis to create a customized path for pursuing the results you expect: helping you establish sound fiduciary governance, enhance plan health and prepare participants for retirement.
Fiduciary governance
Plan health
Participant retirement readiness
Step 1: Review and analyze
- Review current fiduciary governance processes
- Determine current investment selection and review process
- Review current IPS
- Inventory plan fees and expenses
- Assess satisfaction with current plan provider services
- Review history of plan issues and concerns
- Evaluate plan demographics to understand participant needs
- Determine participant utilization
- Review plan features
- Review participant communications strategy
- Review plan provider education services
- Analyze plan demographics and participant educational needs
Step 2: Implement and act
- Educate plan fiduciaries and organize key plan documents with Fiduciary Kit
- Deliver regular insights on fiduciary issues
- Deliver investment advice as an ERISA fiduciary
- Analyze plan fees and expenses, and negotiate fees as appropriate
- Manage search for new retirement plan provider (if applicable)
- Educate on best practices in plan feature trends
- Introduce asset allocation strategies and QDIA (if applicable)
- Manage day-to-day relationship and plan enhancements with plan provider(s)
- Develop customized participant education strategy and coordinate with plan provider(s)
- Deliver in-person education through periodic meetings and seminars
- Provide participant educational materials (presentations, worksheets, etc.)
- Serve as an ongoing resource to provide financial education
- Available as a knowledgeable resource for general financial planning inquiries
Step 3: Assess and improve
- Review checklist for Fiduciary Kit
- Review IPS and investment selection and review process, recommend changes
- Review fee and expense information from service provider disclosures
- Review plan provider services and relationship
- Assess improvement in key indicators of plan health, including participation rates, deferral rates and diversification
- Identify additional plan feature enhancements
- Evaluate participant utilization of the plan
- Evaluate impact of new participant engagement strategies during the previous year