Excessive fees damage employees’ savings and create significant potential liability for plan sponsors. And, while 2012 legislation was meant to create more transparent fee disclosure, it’s still a challenge to make informed cost comparisons and clearly define what qualifies as a “reasonable” expense.
The Rockbridge Remedy: As a complimentary, no-obligation service, we’ll review your current disclosure statements, and help you benchmark them against industry standards as well as our own service offering (if appropriate for your needs). We’ll tell you what we see plainly and directly, to help you cut through any smoke-and-mirror confusion.
401(k) plan’s costs and selections are coming under increased scrutiny by the Department of Labor as well as by plan participants. You can be held personally liable for any shortcomings.
The Rockbridge Remedy: Rockbridge offers a multifaceted defense against fiduciary risks. As your ERISA 3(38) fiduciary Registered Investment Advisor ally, we take on your fiduciary liability related to fund choice selection, monitoring and related liabilities – in unambiguous writing. We’ll also offer our guidance on remaining obligations,based on our solid experience managing 401(k) plans since 1991.
You want to do more than simply avoid liabilities; you want to provide your employees with a good plan … without requiring them or you to become financial gurus to succeed.
The Rockbridge Remedy: Armed with essential understanding, backed by smart, simple choices, your employees can be on their way to a solid retirement plan experience. Employees can invest broadly and deeply by making a single choice from among our professionally managed model portfolios, built from low-cost index funds like Vanguard’s. If a model portfolio isn’t ideal, participants can also target particular asset classes as needed through individual fund choices. We also include caring, personal advice, upfront and ongoing.
When evaluating new 401(k) services, recordkeeping and related administrative services are a critical consideration. Preparation before and during the transition is key, but even so, hiccups happen. For ongoing administration, it’s a mistake to assume that one TPA will be largely the same as the next.
The Rockbridge Remedy: Having managed 401(k) plans for many years, we’ve seen the good, the bad and the ugly sides of plan administration. Just as we can’t eliminate market uncertainty, neither can we guarantee obstacle-free plan administration. But we can offer you our solid experience, to effectively prepare you for the kinds of challenges that may arise, and to stand by your side to help you resolve those that do.