As an employer and sponsor of a retirement plan, your company shoulders a major responsibility. You must consider the needs of your employees and then select the appropriate service provider(s), determine the optimal plan design provisions, choose and monitor investments keep up with legislative changes, ensure your plan is administered properly, and educate and inform plan participants – all at a reasonable cost. All of this can result in a plan that makes it easier for your employees to reach their retirement goals, while helping you recruit and retain valuable employees.
Unless your company has professionals with retirement plan expertise who are solely dedicated to managing your employee retirement plan, you should consider hiring a retirement plan advisor who can assist with various aspects of maintaining your company’s retirement plan.
A dedicated retirement plan advisor can provide services designed to meet the unique needs of plan sponsors and their companies, including plan design expertise, employee education, and fiduciary investment advice. In addition, a retirement plan advisor can be crucial to designing and implementing an effective retirement plan.