RETIREMENT |
Plan Evaluation
Many companies find themselves at some time facing an important decision in regards to their retirement plan. This decision involves the support and representation of the plan they have in place. A dilemma occurs because the plan itself may very well be providing what is needed for the workforce; fund choices, fund performance, quarterly statements, internet access, etc. However, in today’s environment, these items are barely the minimum standard requirements, and none of them support an already stretched HR and Benefit staff. One option being chosen by organizations is to shift the representation of their plan to a new broker. This simple process gives authority to a new group to support your company and can avoid disruption in the plan management. Below is a short list of items that may lead a company to consider this change.
A plan sponsor has the ability to make a distinction between the plan provider and the intermediary servicing this plan. In today’s environment there is no reason to be short- changed in your plan support. Plan Sponsor Support
When we consult with you on your retirement plan needs we believe we set ourselves apart by taking a complex set of issues and decisions and delivering it in a simple format. The format summarizes all of your decisions into three categories: Cost, Performance, and Service. You determine the priority and weight you place on each area. Our goal is to become a partner of your employee benefits department. We are confident we can provide all of the related services necessary to give you personal, accurate, and flexible support.
As performance is overwhelmingly influenced by having the proper asset allocation, we seek for our clients to have a broad array of funds covering the major asset classes and then monitor them regularly. The annual investment review process would include:
Regularly reviewing the provider options is an important fiduciary responsibility. HantzGroup will assist your organization with a comprehensive evaluation of the current investment and record-keeping providers on a bi-annual basis or more frequently if warranted. In the event that you determine that an investment or record-keeping provider relationship should be replaced, HantzGroup will work with the plan sponsor and providers to achieve a seamless transition. Participant Support
As a core philosophy of our organization, we maintain a strong focus on participant education. We work with you to educate your employees during the enrollment process and throughout their time with your organization. A unique enrollment process is implemented that involves both a group session and one-to-one employee meetings with a financial consultant. We provide substantial instruction to help participants make sound choices towards their retirement planning objectives. It is clearly evident that an employee that understands the benefits offered is more productive and recruiting and retention initiatives of your organization are supported. Education & Enrollment Strategy HantzGroup will work with your organization to establish your annual participant communication goals and design a communication strategy that will positively impact your workforce. Components of the educational program would include:
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