Alford-Jungers Financial utilizes a strategic approach to help clients manage all aspects of their retirement plan. We first benchmark your current plan to determine its competitiveness from an administrative, investment and cost effective standpoint. We then establish a due diligence process to plan and document fiduciary control activities and responsibilities. After that, we determine the appropriate investment selection(s) to optimize asset allocation. As part of our plan implementation process, we develop an investment education program for your plan participants, treating education as a process rather than an event.
Specifically, we offer the following services to corporate sponsored retirement plans.
On-going Plan Review
- Review plan documents and help monitor for effective operation
- Review plan fees and costs annually
- Assist with monitoring of plan document for changes in the regulatory environment
- Review plan service provider administrative services
- Review plan design features for competitiveness within industry
- Provide benchmarking information as needed
Investment Review and Monitoring
- Evaluate investment options
- Compare investment options to benchmarks
- Review investment management expenses
- Analyze investment options for diversification
- Consider appropriateness of investment options
Investment Policy Statement
- Review and/or coordinate development of an Investment Policy Statement
- Monitor adherence to the Investment Policy Statement
- Consider changes to Investment Policy Statement, as needed
Participant Education and Communication
- Review education and communication plan with committee and service provider
- Suggest enhancements to participant education program and assist with implementation
- Monitor education/communication program for effectiveness and make necessary changes based on results
- Provide support with conducting employee meetings as necessary
- Provide individual question & answer sessions and/or retirement planning education sessions for participants if requested/authorized by client
Provider Search
- Appraise/review plan vendor and fees
- Develop bid specifications
- Prepare a Request for Proposal
- Conduct marketplace search
- Review and analyze proposals
- Provide vendor fee and service comparison
- Prepare written analysis of vendors
- Introduce alternative vendors, as needed
- Assist with finalist interviews
Implementation – Installation of new plan or execution of changes
- Consider plan enhancements
- Review plan document with plan sponsor and vendor
- Review employee communication and enrollment process
- Review and/or coordinate development of an Investment Policy Statement
- Coordinate conversion process
- Orchestrate transfer of assets, plan, and participant records
Additional Services
- Review roles and responsibilities of decision makers
- Attend 401(k) committee meetings as requested
- Help the committee facilitate their due diligence process, suggest enhancements and assist with documentation as requested
- Assist human resources with day-to-day operational issues and provide administrative and problem resolution support
- Provide pro-active client support via regular contact with plan administrator
- Review merger, acquisition and divestiture activities
- Provide annual plan review
- Suggest guidelines for effective plan operation
Compliance and Legislative Support
- Act as liaison with service provider and help plan sponsor with plan compliance procedures, i.e., non-discrimination testing, 5500 filings and plan amendments
- Keep plan sponsor informed by providing updates regarding legislative changes that may affect the plan
