Plan Implementation

Implementation, particularly when converting an existing plan, requires precise coordination and smooth execution. As your consultant and primary contact, Retirement Solutions provides advocacy and assistance to you. Our job is to proactively ensure that your needs are communicated to the investment provider's representatives and other involved professionals and that you remain fully informed throughout the implementation process.  The implementation process can include:

 

Investment Policy Statement

You bear certain responsibilities as a fiduciary. An Investment Policy Statement provides guidelines concerning your various types of investment management decisions.  Retirement Solutions works with you closely to help you prepare a formal Statement.

 

Development of Plan Documentation

Based on our assessment of your company’s needs, your retirement plan objective, and the demographics of your employees, Retirement Solutions will design a plan which dovetails with those parameters and objectives.  This includes preparation of Plan Documents, the Summary Plan Description and a Plan Administrators Guide to assist you in all areas of plan administration including enrollment, distributions, loan administration and government reporting.

 

Development of an Employee Communications Strategy

A well-constructed communication strategy can help you meet certain 404(c) requirements while encouraging participants to enroll in and get the most out of your retirement plan. Retirement Solutions customizes a strategy that:

  • Helps employees understand the benefits of their plan
  • Helps employees understand appropriate asset allocation strategies
  • Seeks to maximize employee participation and increase their contributions (within limits)
  • Offers ongoing education about retirement planning

 

Coordinate/Conduct Enrollment Meetings

The success of your plan hinges upon the level of employee participation. Enrollment meetings provide the opportunity to maximize participation by educating and raising the awareness of your employees about the plan and how they can use it to pursue their retirement investing goals. Retirement Solutions will focus on this effort by coordinating and conducting the enrollment meetings and, if appropriate, secure the involvement of your service provider


We focus our energy on designing and implementing a plan which meets or exceeds the Plan Sponsor's personal and business goals.