How We Help Employers Manage Their Retirement Plan For Employees

Aim to achieve better outcomes, navigate change and reduce your workload with World Investment Advisors

We offer full-service employer retirement plan consulting services focused on maximizing employer-sponsored retirement plan outcomes, protecting your plan, and removing work from your plate. Providing a robust retirement plan is one of the most impactful employee benefits you can offer, helping your team save for retirement and secure their financial future.

Our solutions comply with federal government regulations to ensure your plan operates efficiently and equitably.

Learn more about how we can support your retirement plan needs.

Retirement plan optimization

We review the design and operational features of your retirement plan for employees, matching them to your goals, objectives, and needs of your employees.

Employee financial wellness

Give your employees a personalized financial wellness experience that helps push them toward their goals. You can choose their level of support from financial education to one-on-one coaching.

Fiduciary Investment Services

You choose which fiduciary investment service model makes sense for you and your organization. You'll receive quarterly investment analysis and benchmarking reports to help ensure you are meeting your goals and responsibilities.

Compliance and ERISA Support

We aim to ensure you’re meeting your obligations and provide the education you need to do so. You can receive fiduciary best practices and training, ERISA §404(c) analysis and recommendations, a review of plan document provisions, and DOL and IRS audit support.

Executive Benefits

Retain and recruit top talent by rewarding executives and other key employees. Providing additional benefits beyond the 401(k) can be an investment for your organization.

Choosing the Right Employer-Sponsored Retirement Plan

Selecting an employer retirement plan goes beyond picking investment funds; it means aligning every feature with your organization’s culture, budget, and growth goals. Whether you’re starting a new employer sponsored retirement plan or improving existing employer retirement plans, focus on automatic enrollment, transparent fees, and robust employee education. These elements boost participation, reduce fiduciary risk, and support long-term financial wellness.

Designing an Engaging Retirement Plan for Employees

An engaging retirement plan for employees should offer diverse investment options, digital tools, and clear communications that make saving simple. Employer sponsored retirement plans can offer both Roth and traditional contribution options, automatic escalation, and matching formulas that reward consistency.

By tailoring plan design to your workforce’s demographics, you empower employees to visualize retirement success and strengthen their loyalty to your organization.

EMPLOYER RETIREMENT PLAN FAQS:

Why should we hire an advisor for our company’s retirement plan?

ERISA requires that plan sponsors make prudent decisions, solely in the best interest of participants, regarding the management and administration of retirement plans. If lacking expertise, ERISA necessitates hiring professional assistance.

To ensure you comply with your fiduciary duties, you should consider hiring a knowledgeable retirement plan advisor or consultant. These professionals aid in establishing and maintaining a streamlined process for prudent decision-making, managing fiduciary risk, and assisting in the selection, monitoring, and benchmarking of investments and service providers for the retirement plan.

When does our company need to run a retirement plan advisor search?

There are three broad scenarios when you should run a 401(k) advisor search.

If you don’t already have an advisor or 401(k) consultant on your plan.
If you are having problems with your current advisor and you would like to replace them.
If you are conducting a periodic benchmark for due diligence.

How can I run a retirement plan advisor request for proposal (RFP)?

When conducting a retirement plan advisor RFP, spend some time determining the needs of your plan and your plan committee under the three areas of fiduciary responsibility:

administration, service providers, and investments. Based on your needs assessment, prepare an RFP with appropriate questions - [If you need a sample, please contact us today] this should be unique to your organization and include information about your objectives.

Then comes evaluating responses, conducting interviews, and selecting the most suitable advisor based on your specific needs and preferences. Keep in mind, both qualitative and quantitative analysis is important. You do not need to go with the cheapest option, in fact, evaluating any service provider solely based on fees means you are not following a prudent process, per ERISA.

The key here is reasonable fees based on the value of services you receive that you deem important in the needs analysis. Do not forget to document every decision you make (or don’t make).

How often should I benchmark my employee’s retirement plan?

The Department of Labor (DOL) recommends benchmarking at least every three years. However, having a 401(k) advisor on your plan means you are likely doing this regularly. Benchmarking plan health metrics, fees, and predetermined plan goals can help guide the decisions the plan committee makes regarding investment selection, retirement plan design, service provider partners, employee services, and more.

How often should I be scoring our 401(k) investment lineup?

Plan sponsors, alongside their advisors, should evaluate the retirement plan investment lineup quarterly to assess the performance, risk, and fees of the investments. Selecting and monitoring investments for your plan is one of your primary responsibilities as a fiduciary. Unless you delegated your investment-related duties to a 3(38) investment manager, you should designate at least one person on the plan committee to work with an investment professional to ensure the investments are prudently selected, monitored, and if necessary, replaced.

Learn more about World Investment Advisors investment services here.

How Do Employer Contributions Work in Different Types of Retirement Plans?

Employer contributions vary depending on the type of retirement plan offered. In 401(k) plans, employers may match a percentage of employee contributions or make discretionary contributions. Profit-sharing plans allow employers to contribute a portion of company profits to employee accounts.

401(k) plans: Matching or non-elective contributions.
Profit-sharing plans: Contributions based on company profits.
Defined benefit pension plans: Employer-funded retirement income based on salary and years of service.
IRAs: Employer contributions are not required for traditional IRAs but may apply to SEP or SIMPLE IRAs.

Understanding the rules for employer contributions helps businesses maximize plan benefits and ensure compliance.

What do I do with our retirement plan for employees after our company is acquired?

There are many options when it comes to an employer-sponsored retirement plan after an acquisition. This may include merging the plans, maintaining separate plans, or terminating the acquired plan.

Consult with your retirement plan advisor and legal consultants to make informed decisions. Compliance with ERISA and other regulations is critical during this transition.

How can I evaluate my retirement plan after a turnover in leadership?

After a leadership turnover, assess the employer retirement plan's continuity and alignment with the company's new goals. Review the plan's performance, structure, and the roles of service providers.

Consider whether adjustments or changes are necessary to align with the new leadership's vision, but do not make changes without following a prudent process as per ERISA.