For years, we’ve recognized that quality retirement planning is the cornerstone for strengthening employee loyalty. Diversity of workforce is a critical component to the plan’s success, however the complex rules and regulations put forth by the various governmental agencies require constant attention. Although there are a lot of moving parts to a retirement plan, the two most critical functions are the role of the fiduciary and constant attention to plan expenses. At The Greensage Group, we offer game changing solutions, backed by highly competent professionals who allow you to focus on what is most important…your business.
Fiduciary
Fiduciary duties can be intimidating. That’s why the advisors at The Greensage Group can work in tandem with you and take on the role of a 3(21) or offer 3(38) fiduciary services through LPL, providing governance over plan investments. Due to our fiduciary obligations our team will review your plan quarterly to help ensure you are meeting the requirements set forth by ERISA codes 404(a) and 404(c).
Benchmarking
Do you know the “total cost” of your retirement plan? ERISA requires sponsors to maintain reasonable plan expenses, but what signifies “reasonable”? The DOL does not publish specific benchmarks, but they do generally recommend that plans look at outside bids anywhere from every 3 to 5 years to be sure plan expenses are still appropriate.
In simple terms, the areas of concern are:
- TPA Fees
- Advisor Fees
- Recordkeeping Fees
- Fund Manager Fees
Provided we are a fiduciary to your plan, we have access to an independent, third party patented process that compares your plan’s asset and participant sizes to those within your peer group. We do this as we onboard new assets, and once every two years, to help ensure “fee reasonableness” for all of our customers.
By utilizing our process, we keep you focused on what is important…your business.
Schedule a Consultation