401(k) Administration
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Converting an existing plan requires precise coordination and smooth execution. As your Advisor and primary contact, Rainstone Financial provides advocacy and assistance to you. Simply click select the area below to learn more about each process:
Investment Information
Your fiduciary responsibilities include selecting a broad range of investment options for your employees. Investment selection is one of the most important aspects of a plan, and it merits careful consideration and due diligence. As your financial advisor, We will help you:
- Analyze participants’ investment behavior in your current plan
- Help you establish an appropriately diversified range of investment options*
- Learn about the investments in your plan.
- Avoid overlapping exposure within investment options
- Stay aware of any new offerings from your provider
- Keep abreast of trends and news from the investment industry
- Avoid common mistakes that plan sponsors often make
- Provide ongoing information about the plan’s investment offerings
- Help you review your plan’s performance semiannually
- Create an investment policy statement for your plan
Development of an Education Policy Statement
A well-constructed education policy statement may help you meet certain 404(c) requirements, while encouraging participants to enroll in and get the most out of their retirement plan. Rainstone Financial customizes a strategy that:
- Helps employees understand the benefits of their plan
- Informs employees of the auto features, if any, included in the plan
- Seeks to maximize employee participation and increase their contributions, within limits
- Helps employees develop appropriate asset allocation strategies by providing sample asset allocation models and investment information on asset classes and asset subclasses
- Offers ongoing education about retirement planning
Coordinate / Conduct Enrollment Meetings
The success of your plan hinges upon employee participation. Enrollment meetings provide the opportunity to maximize participation. These meeting are designed to educate and raise awareness among employees about the plan and how they can use it to pursue their retirement saving goals. Rainstone Financial will focus on this effort by coordinating and conducting the enrollment meeting and if appropriate, securing the involvement of your service provider. I think the best employee education materials are:
- Personalized (based on certain information that you may provide)
- Aimed at improving participation, savings rates and asset allocation
- Designed to inform employees about current market trends
- Designed to help employees stick to a long-term savings plan and prepare for a comfortable retirement
Documentation of Investment Policy Statement
As a fiduciary, one of your responsibilities is to create an investment policy statement, which provides guidelines concerning certain investment management decisions. Rainstone Financial will work closely with you to help you prepare this statement.
Our job is to proactively ensure that your needs are communicated to the service provider’s representatives and other involved professionals, and that you remain fully informed throughout the implementation process.
Our Plan has Been Setup, Now What?
Once up and running, a successful retirement plan will reinforce your commitment to your employees and help you attract new talent.
After implementation, Rainstone Financial remains involved, providing a full range of services to support and expand the benefits of the plan for you and your employees with:
- With our help, the enrollment process for your employees may go faster and more smoothly.
- We can help you evaluate your plan’s performance and whether it is doing the best possible job helping participants prepare themselves financially for retirement.
- We can help you by providing investment information as you fulfill your fiduciary duties.
- We will communicate to you changes that may affect your plan and your employees.
- We will keep you up-to-date on the latest developments and trends to ensure you are offering the best possible plan for employees.
- We can be a valuable helping hand and source of support and information whenever you need us.
Additional Services
In addition to the above services, you can look to Rainstone Financial to provide support with on-site investment seminars and one-on-one financial planning for some or all of the following:
- Personal non-retirement investing
- Rollover and distribution options
- College planning
- Estate planning
- Life stage planning
At Rainstone Financial, we look forward to making your job as your company’s 401(k) plan administrator as easy and enjoyable as possible.
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