Due to the complex nature of ERISA law & lack of expertise in the industry many retirement plan providers will use cut-and-paste retirement plans & not put in the effort to design a plan tailored to your objectives. This often leads to lousy employee participation, failed testing & an increase in overall plan cost.
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Plan Features That Garner The Greatest Scrutiny
Retirement Plan Design
Plan Investment Lineup
Your retirement plan investment lineup is one of the most important responsibilities of the plan sponsor. If not properly managed and monitored, a breach of Fiduciary responsibility can lead to costly lawsuits. It is crucial to have a high-quality, low-fee and diversified set of funds for your employees to invest in.
Plan Fees & Expenses
Retirement plan fees have gotten a lot of scrutiny over the past several years, and rightly so. More people understand how much they pay for NetFlix than they do for their retirement plan. Plan fees are often hidden & substantially increase the more parties you have involved. With EIP’s technology and bundled services we would love to compete on cost for your plan.
Retirement Plan Adviser
ERISA requires a Plan Sponsor to maintain a prudent level of investment knowledge as it pertains to the retirement plan. When a Plan Sponsor lacks the technical expertise and experience to properly select and manage the plan investment line-up, ERISA may require a Plan Sponsor to hire a knowledgeable adviser to take on the plan’s investment responsibility.