We deliver a custom fiduciary strategy to retirement plan sponsors for both
Defined Contribution and Defined Benefit Plans.
Our goal is to engage with you to understand your objectives so that our advice and strategies are tailored to best fit your needs. We will partner with you to manage Plan risk, document a process for prudently monitoring your investments, benchmark the Plan’s service providers, stay abreast of compliance and regulatory changes and educate your employees.
To do so, we will lead a team of professionals dedicated to serving your needs.
• Oversees the plan and selects providers
• Legally must act in the best interest of the plan participants and their beneficiaries
• Follows the plan documents
• Selects, or hires someone qualified to select, the plan investments
• Pays only reasonable plan expenses
• Performs Due Diligence & Oversight
• Provides plan-level investment advisory services
• Provides objective and unbiased investment advisory and investment services to plan participants
• Conduct annual fiduciary review
• 3(21) Investment advisers offer investment advice on limited fiduciary protection
• 3(38) Investment manager makes investment decisions and takes liability for them
Typical Fee Arrangement
• Flat fee charged to the Plan Sponsor (employer) on a quarterly basis
or
• Paid by the Record Keeper as a percentage of plan assets. Fee is charged across the board to each participant with an account balance
• Plan Design / Drafting legal plan documents
• Perform annual compliance testing (if required)
• Prepare and file annual Form 5500
• Record Keeper provides monthly statement and website access
Typical Fee Arrangement
• TPA typically charges a one time, flat fee to establish the plan.
• On an ongoing basis, TPA typically charges an annual baseline fee, plus a per participant fee, and ancillary fees for ad hoc services.
• Record Keeper will charge a separate fee for providing asset custodial services, typically as a percentage of the amount in each participants account, charged to each participant.
Additional vendors may be available - contact us for additional information
Additional vendors may be available - contact us for additional information
Data is entered and automatically flows in one direction — either from Record Keeper system to payroll system, or from payroll system to the Record Keeper.
Select List of Vendors
Paycom
PrimePay
Ceridian
Payroll Network
Payroll 1
Balance Point Payroll
Coastal Payroll
PayPro Corporation
IPS Integrated Payroll Services
Data automatically flows between Record Keeper of your choice and payroll system in both directions — from record keeper into payroll system, and from payroll system into record keeper system.
Select List of Vendors
Paylocity
Paycor
KTBS Payroll
ADP*
UltiPro / Ultimate Software
Workday*
*Some exceptions or approvals may app
achou@woodburyfinancial.net | 888-548-5891