Corporate Retirement Plans
If you are like most plan sponsors, you know the value a corporate retirement plan provides to your business in attracting and retaining talent while also providing the opportunity for you and your employees to save and invest for retirement. But, do you know how to manage your dual responsibilities and risks of acting as both plan sponsor and plan fiduciary? Plan sponsors need help from a retirement partner they can trust; one who can provide the tools and resources necessary to help them fulfill their fiduciary responsibility.
Until recently, plan sponsors of smaller plans have not had the services and support that many large plan sponsors take for granted.
As your independent financial advisor and support contact, we will work closely with your plan’s trustee(s) and investment committee as a liaison between you, your employees, and the various independent partners on the plan such as your TPA, Record Keeper, and ERISA 3(38) Investment Manager to ensure your plan is successful, transparent, cost effective, and compliant.
Please contact us today to schedule a free consultation, plan review, and analysis.
Summary Highlights of the LPL Small Market Solutions Program
Financial Advisor Support:
- Education and support on the Plan and the Investment Options
- Regulatory and Market Updates
- Assistance with the selection of and ongoing relationship management of recordkeeper and other third-party vendors
- Plan Participant enrollment support and education
LPL’s Plan Support Services:
- Quarterly Fiduciary Investment Reporting Manager (FiRM) reports, delivered to you
- Investment Monitoring: notifying you each quarter of any plan investments that have been added to your watch list or removed from the line-up, as well as replacement funds and commentary
- Fee Analysis and Benchmarking: timely reports provided periodically, showing the total cost of your plan compared to your peer groups; helping you analyze the reasonableness of fees, rather than merely knowing what they are
- Periodic plan service reviews that help you manage the service provider RFP process
- Unbiased evaluation of plan investments using LPL’s proprietary 12-Point Scoring system, which weights investments based on five years of data covering key qualitative and quantitative aspects
3(38) Investment Fiduciary Service through LPL Financial:
- Dedicated team of over 50 research professionals including 12 CFAs and 17 masters degrees, with an average of 13 years of industry experience
- Unbiased Investment Insight - LPL does not offer proprietary investment products which means investment research is always objective
- Act with discretionary authority over plan investment selection and monitoring
- Accept ERISA 3(38) fiduciary responsibility for investment-related decisions
- Assist with the preparation of Investment Policy Statements (IPS)
Record Keeper:
- We partner with some of the best independent record keepers in the industry by AUM and/or number of plans who provide employers and employees best-in-class tools and resources
- Transparent and competitive pricing & no proprietary requirements. Annual Recordkeeping Fee/TPA/Testing based on number of participants and plan balance
- Expertise – Access to compliance team of attorneys, CPAs, and consultants for on-going administration questions and plan design
- Increased employee participation and smoother plan transition
- Provide guidance on legislative and regulatory issues; assist with plan documentation and design
Worksite Financial Solutions for your Participants:
- Employee Engagement Solution helps employees start out right with their retirement plan by helping them consolidate retirement assets in one place
- Employee Education Solution is a holistic financial wellness solution that includes tools and educational resources to inspire employees to take action toward saving for a healthy retirement
- Employee Advice Solution is a discretionary managed account option that offers employees personalized retirement advise to help them work toward their retirement goals. This managed account solution is optional and includes a separate advisory fee assessed on the participants account
- Employee Transition Solution helps employees keep their retirement planning on track during times of career transition, with early separation counseling, retirement counseling and rollover education and guidance