- Fiduciary Services and Investment Due Diligence
Focus 401(k) Group, LLC will serve as either an ERISA 3(21) investment fiduciary or 3(38) investment manager plan fiduciary for the plans that we serve.
The development of a consistent and rigorous investment due diligence process along with the supporting documentation is critical to maintaining a proper menu of investment options. This process is codified in an Investment Policy Statement (IPS) which is used as a guide to evaluate the investment options within the plan. Focus 401(k) Group, LLC will provide guidance to the Retirement Plan Committee in adopting, revising, and implementing the Investment Policy Statement to provide confidence and documentation to insure that the investment options are diversified, well managed, and meet the appropriate objectives.
Focus 401(k) Group, LLC provides consistent and comprehensive investment analysis utilizing robust analytical tools. Investment options are evaluated quarterly by a dozen objective analytical measurements including returns, risk assessments, correlations, and expense structure.
- Plan Design Services
Though many retirement plan features are mandated by rules and regulations, there are many selections that need to be made by the Plan Sponsor in the design of a retirement plan. These selections can be the difference between offering a fantastic retirement plan benefit or just another 401(k) Plan!
Focus 401(k) Group, LLC believes that plan design has to fit a Plan Sponsor’s goals, administrative capacity, employee base, and financial resources. As such, we work with each of our client’s to maximize the plan design for their Plan on an initial and ongoing basis, things do change. We believe that it is also important to understand that what works well for one company may not be the best fit for another.
- Plan Benchmarking and Provider Analysis
In addition to Investment Due Diligence, Plan Benchmarking and Provider Analysis is also an important fiduciary responsibility.
Our 401(k) benchmarking process not only gives employers a clear understanding of the fees associated with running and maintaining their plan, but also how those fees are charged. In addition to quantifying the plan fees and comparing them with other similar size plans, we also compare to the fees charged by other service providers. The in-depth benchmarking process determines whether the current plan fees are reasonable. The benchmarking process often enables employers to reduce their plan’s cost and potentially reduce their fiduciary exposure.
- Employee Education/Communication
An effective Participant education/communication program is critical to the success of a company’s retirement plan. Focus 401(k) Group, LLC understands that the development of this program can vary greatly from company to company and across different industries. We review the wide variety of options available with the Retirement Plan Committee and create the most appropriate educational program for their particular employee base.