More and more Plan Sponsors are being forced to “fit the box” of their provider. Our services are either all-encompassing or offered on an a’la carte basis. We utilize a personalized approach to help clients manage all aspects of their retirement Plan. First, we benchmark your current Plan to determine its competitiveness from an administrative, investment and cost effective standpoint. Next we establish a due diligence process to Plan and document fiduciary control activities and responsibilities. Finally, we recommend the appropriate investment selection(s) to optimize asset allocation. And, as part of this process, we develop an investment education program for your Participants as we are in the communication business. Employee communication is perhaps one of our greatest strengths.Retirement Plan Services include:
The world of qualified retirement Plans has changed, and continues to quickly change as a result of new legislation and compliance related issues. Sponsors, Trustees, Committee Members, CEO's CFO's and Human Resources are dedicated to following ERISA and doing their jobs as effectively as possible, yet cannot possibly make it their "full time job" to keep up with these rapid changes. However, the DOL and SEC state that it is a Sponsor's fiduciary responsibility to do so.
We at EPIC work in conjunction with ERISA attorneys and with your Provider, facilitating access to the compliance services designed to help protect you, the Plan Sponsor, to manage liability. To that end we provide:
Keeping Plans current and competitive are key components in attracting and retaining talent. Plan Sponsors are often concerned about how their Plan compares to others in the marketplace. We benchmark your current Plan to determine its competitiveness from a design, administrative, investment and cost effective standpoint.
EPIC takes a personalized approach when benchmarking. In addition to utilizing industry benchmarking services, we gather information from Providers which includes existing, real-time services and fees. In addition, we continually conduct on-site due diligence visits on the Provider level, verifying their operation and services and speaking with upper and middle management along with their service representatives.
The DOL expects Plan Sponsors to know how much their Qualified Retirement Plan is "truly costing" in terms of both direct and indirect costs. EPIC Retirement Services Consulting will provide you with an analysis of your Plan's total fees and analyze the effects of distribution and revenue sharing in terms of pricing and flexibility. Our review typically includes:
Fees and expenses are an important component in managing your retirement Plan. The DOL, more than ever, expects Plan Sponsors to pay attention to costs, analyzing and understanding them, and ensuring their reasonableness.
EPIC Retirement Services Consulting also specializes in Defined Benefit Investment and Advisory Services. The following are services we offer.Financial Oversight
Plan Sponsors often need guidance regarding Plan fees and expenses – what they are and how they are paid. EPIC Retirement Services Consulting can provide that guidance in the following areas:1. Plan Forfeitures: The Internal Revenue Code (IRC) generally does not allow for forfeitures to be held in suspense accounts beyond the Plan year in which they arise. And, the IRC and relevant IRS guidance provide that forfeitures may be used to reduce employer contributions and/or pay Plan “reasonable and necessary expenses that benefit Participants.” While EPIC cannot provide legal or tax advice, we can provide information to help you determine expenses that may and may not be paid from Plan Forfeitures and best practices to ensure that outstanding balances in the forfeiture accounts are being used timely.
During an M&A deal, companies generally perform due diligence across all areas of the target company to identify issues that need to be addressed. If employee benefit Plans are not included in this due diligence, an acquiring company can discover that it has inadvertently become the owner of significant employee benefits Plan problems.
We at EPIC Retirement Services Consulting strongly encourage you to conduct your benefit Plan due diligence prior to completion of the merger or acquisition. Having said that, whether during the negotiation stage or after the merger/acquisition is completed, EPIC can be your trusted source for detailed analysis and insights on issues affecting pension and retirement Plans.
EPIC Retirement Services Consulting, LLC has over 14 years of experience with plan merger & acquisition activity. Our involvement and expertise helps ensure that proper due diligence is conducted with respect to the acquired 401k Plan as well as a comprehensive review of all Plans that will be subject to change due to any M&A activity. This also holds true for Pension Plans and Executive Compensation Plans.
Non-qualified plans are designed to meet specialized retirement needs for key executives and other select employees. These can be any type of tax-deferred, employer-sponsored retirement plan that falls outside of ERISA guidelines and are exempt from the discriminatory and top-heavy testing that qualified plans are subject to. Generally non-qualified plans fall into four major types: