Services
PLAN DESIGN
Retirement Plans come in as many different varieties as the companies they serve. As you are probably aware, there is a wide assortment of plan types available today - from 401(k)’s to Profit Sharing Plans to Defined Benefit Plans.
Along with a well-crafted Investment Policy Statement*, additional common components constitute a well-designed plan, no matter what the type. Balanced asset class representation, appropriate investment choices with superior historical performance, maximized cost containment are elements designed into the plan upon inception.
Ongoing consideration is also given to:
*Investment Policy Statement (IPS)
An Investment Policy Statement is a critical document that outlines the general goals and objectives of the Retirement Plan. It clearly defines steps to be taken for management, review and monitoring of plan assets. It assists in the documentation of all investment decisions by providing written documentation of policies, procedures and practices for investment decisions. It will be one of the first documents requested in the event of an audit by the Department of Labor.
The financial universe is always changing. During periods of great market volatility, the IPS can serve to remind both plan sponsors and participants of the purpose of their chosen investment strategies and the inherent risk in the plan. This will bring confidence that the plan is diversified, well managed and still meeting the original objectives of the plan.