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Retirement Plan Consulting

Employee Benefits Group, Inc. specializes in managing and evaluating employer-sponsored retirement plans.

We are an independent advocate for our clients and our job is to help our clients meet their essential responsibilities that are not provided for adequately by either traditional plan vendors or intermediaries.

As an independent qualified retirement plan consulting firm we help to protect plan fiduciaries from possible personal and corporate financial liability by evaluating and mitigating the risks. We bring our clients unbiased investment advice, innovative designs, sophisticated solutions, fiduciary risk management and experience-backed recommendations, all with the aim of helping our clients improve their plans. Our services are designed to save time, and implement the procedures and processes to potentially reduce fiduciary liability exposure and address both IRS and Department of Labor compliance requirements.

Through our value-added services and professional consulting expertise, our mission is to create ongoing successful retirement plan experiences for employers and employees. Through our philosophy and mission statement to address the three areas of plan governance, plan effectiveness and investment selection and monitoring, we strive to help you address several key components of a successful retirement plan.

Plan Governance:

    • Fiduciary Role – EBG assists plan sponsors with meeting their fiduciary duties. Our Total Plan Management approach is designed to guide fiduciaries through the matrix of retirement plan committee training, investment selection and monitoring, plan governance, and provider monitoring. We assist you with reviewing compliance in both ERISA section 404(c) and 408 (b) 2.

 

    • Plan Operations and Compliance – We will also assist with ongoing compliance support in ways including, but not limited to: document review; interpretation and verification testing results; merger and acquisition analysis; facilitation of Voluntary Correction Procedures (VCP) and Preparation for Department of Labor (DOL) audits.

 

  • Plan Design – Through periodic and ongoing review, EBG can help determine when plan design changes may be beneficial. In addition to considering typical design changes, such as employer contribution strategies, we will also assess new design features as they develop. . We perform on going benchmarking to ensure plan stays competitive in both the qualitative and quantitative areas of design.

Plan Effectiveness:

    • Communication and Education – EBG understands the importance of the development of an effective communication program and how it varies greatly based on employer locations. We create an appropriate Education Policy Statement and implement the program for their particular employee population.

 

  • Plan Metrics – EBG reviews several measures with clients annually such as, participation, deferral percentages, retirement readiness, call center and web usage, as well as participant education feedback. We benchmarking your plan’s statistics against national, regional, and industry specific data helps put your plan’s results in perspective.

Plan Investment and Monitoring:

  • Investment Selection and Monitoring – EBG provides plan sponsors with a comprehensive and systematic process to analyze, select, monitor and, when necessary, replace investments. We utilize several of the best, most robust analytical tools available in the industry today to assist you with plan expense reduction and plan investment analysis.

We function as true independent consultants, as we are both vendor and investment neutral.

No investment strategy can guarantee a profit or protect against loss. In choosing an investment product, investors should carefully consider the amount they plan to invest; their investment objectives; their comfort level in understanding the product and/or strategy; their ability to handle market fluctuations and loss of principal, the investment objectives, risks, charges and expenses before investing. Other important information is contained in the product materials and disclosures, which can be obtained from a financial professional and should be read carefully before investing. Investor education is very important before any funds are committed. An educational resource for investors is provided by FINRA at http://www.finra.org/investors.