Business Services Options & Package Pricing for ERISA
Business Services Options for ERISA Assistance to Employees
WWA has worked with hundreds of individuals in dozens of different businesses including all types of qualified plans. We can help with the RFP(Request for Proposal), evaluate the most suitable plan format for a given situation and prepare an appropriate Investment Policy Statement. We review mutual funds constantly and are uniquely equipped to evaluate those offered among the plan�s choices. Our investment advice is based on a rigorous financial planning process and takes age and potential time-to-retirement into account in shifting assets to less volatile classes. As we have studied ERISA, we have come to believe that plan trustees may face potential liability if participants do not receive unbiased recommendations regarding their investments, even in light of 404(c). We offer a series of reviews, educational meetings & specific employee advice aimed at reducing such risks and allowing all employees to achieve as comfortable a retirement as is possible. All of our plans are completely customizable for your company's particular needs, however, here are a few suggested plans we offer:
Plan A � Employee Meetings:
Warren Ward Associates (WWA) will do an in-depth review and become familiar with the details of the plan your company offers, then hold orientation meetings with groups of your employees at your location during the shift(s) of your choosing. WWA will answer questions posed during the meeting and will stay as long as employees have questions. Answers will include specific investment suggestions based on plan options, employee age and investment experience.
WWA will answer brief follow-up questions from the employees attending, via phone or email, at no additional charge.
WWA will not administer individual risk tolerance evaluations and will not explore specific employee situations. WWA will not provide a written report to any employee WWA meets in a group setting.
To ensure the process, WWA will have employees sign in at each meeting and this list will be provided to the employer.
Cost � $250 per meeting, up to 25 employees per meeting; billed after each session.
Plan B � Individual Meetings:
WWA will leverage its knowledge of your company�s plan by providing one-on-one meetings with your employees at our office. Typically, these will last one hour.
WWA will ask that certain documents be brought to the meeting. A spouse or partner is welcome to attend. WWA will do a more personal evaluation and may administer a risk tolerance questionnaire if WWA feels it is appropriate. WWA will attempt to put your company�s plan into the context of the employee�s total financial situation and will factor in other investments, financial experience and a partner�s retirement plan options.
WWA will answer brief follow-up questions from the employee or partner, via phone or email, at no additional charge.
WWA will not provide a written report to the employee, nor will WWA address detailed questions on other issues, such as budgeting, mortgage re-financing options, risk management, college funding options and retirement & estate planning.
To ensure the process, WWA will keep notes from the discussions and copies of any evaluations done. These notes will not be available to the company.
Cost � $100 per employee (usual fee is $120 per hour), with a minimum of 5 employees enrolled; billed after each meeting. More detailed financial planning services will be available at the employees� own expense.
Plan C � Financial Check-Up:
WWA will gather substantial information about the financial lives of your employees, typically requiring more than one meeting at our office. WWA will consider more complex financial planning issues such as budgeting, mortgage re-financing options, risk management, college funding options and retirement & estate planning. WWA will administer a risk tolerance questionnaire to the employee and partner.
Following the meetings, WWA will provide a written report to the employee, typically several pages in length. WWA will answer follow-up questions from the employee or partner, via phone or email, at no additional charge.
To ensure the process, WWA will keep notes from the meetings, copies of the risk tolerance evaluations and the written report. None of this information will be available to the company.
Cost � $400 (usual cost is $495) per employee per year, billed quarterly in advance, based on the number of employees covered by the program.
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