In the past several years various legislation, namely EGTRRA and the GUST amendments, have passed which have enhanced the plan design options available to plan sponsors. Some of the new design options can provide dramatic improvements to existing plans.

For plan sponsors with plans that are 3 years old or older, it probably makes sense to take advantage of our no cost, no obligation review (described below).

Our review process will uncover plan design alternatives that may not have been available when the current plan was established.

:: Five Step Process

1. Identify Client Goals and Objectives
   
   During the initial consultation we will identify the plan sponsor’s primary goals as well as any key areas of concern. In other words, we work with the plan sponsor to develop a “wish list” of features and benefits to be included in the plan. The “list” will then become the foundation of our exclusive review process as described in Step #2.
   
   A few of the most common objectives we hear from plan sponsors are:

   Providing new opportunities for owners and highly compensated employees to contribute more money to the plan.
   Improving the quality of service and/or reducing the costs related to the administration of the plan.
   Maximizing participation in the plan among rank and file employees.
   Maximizing the tax savings generated by the plan for the business.
   Improving investment selection and performance opportunities.
   Ensuring that the client (i.e. plan sponsor) has satisfied their duties as trustee and fiduciary of the plan.

   It is also imperative during this stage that we develop and in-depth understanding of the nature of our client’s business as well as its ownership structure.

2. The No Cost, No Obligation Review
   Our comprehensive review process is the backbone of the RetireAmerica approach.
   
   With the permission of the plan sponsor, we will review the current retirement plan from both a plan design and product comparison perspective. Our goal in the review process is to help the plan sponsor determine if their current plan is meeting or exceeding the goals set forth in Step #1.
   
   Each review handled on a completely confidential basis.
   
   During the review process we will take into consideration a broad array of plan design elements such as:

   Plan Type: Traditional vs. Safe Harbor vs. Profit Sharing, etc.
   Classification of different employee groups within the organization.
   Design of Profit Sharing and/or Employer Matching Contributions.
   Loan and Withdrawal Provisions.
   Eligibility Requirements.
   Vesting Schedules.

   Areas that we look at with respect to the plan provider include:

   Investment Selection and Performance Opportunities
   Online Account Access for Participants
   Monitoring, Reporting and Fiduciary Tools for Plan Sponsors
   Fees and Expenses
   Level of Service

3. Observations and Recommendations
   If we identify any areas for improvement then we will share them with the client. On the other hand, we only recommend changes where appropriate when considered from a cost vs. benefit standpoint.
   
   Additional comparisons of the most appropriate plan design options and product providers will occur during this stage.
   
   From this point, the client makes the final selection and we move on to Step #4.
   
   
4. Implementation
   The process of implementing a group retirement plan can be a daunting experience for any business if it is not handled appropriately. Nobody appreciates the need to make the implementation process as “painless” as possible more than the professionals at RetireAmerica.
   
   To that end we have developed an extremely efficient and thorough implementation system that requires as little time as possible from the plan sponsor.
   
   
5. Service and Support
   The ability to provide outstanding service before and after the plan has been implemented is the key a successful client relationship.
   
   Each RetireAmerica consultant makes a commitment to provide outstanding service to every client they work with. Services offered include:

   Complete Implementation Support
   Initial and Ongoing Enrollment Meetings
   Annual Plan Design Review Meetings
   Fiduciary Review (i.e. 404(c) Compliance) Meetings
   Educational Seminars or Classes for Participants
   Investment Review and Due Diligence
   Tax & Regulatory Updates