Governing your plan

It's difficult enough to plan for the future when the stakes are as low as where to take the family on vacation or even what's for dinner this evening. But when we're talking about navigating the ever-shifting landscape of legislation, regulations and investments surrounding your organization's retirement plan, the challenge can seem overwhelming.

Fortunately you're not in this alone. Our team of consultants can help you with your retirement governance, offering tailored solutions on everything from compliance to administration to investment decisions. You have a unique set of challenges to overcome, and we promise to provide you with the answers right for you and not just any client.

How we can help with your retirement plan governance

Our DC assessment is a combined service offered by Segal and Segal Marco Advisors, our SEC-registered investment consulting affiliate, that addresses the implications of new and emerging plan requirements, helps you develop an action plan for enhancing current processes and procedures and assists with ongoing plan compliance.

This combined service offering includes a review of the four key aspects of DC plan management: administration, compliance, communication and investment, helping you meet your fiduciary responsibilities now and in the future.

The issue

A self-administered multi-employer fund retained us to assess its compliance status, including adherence to the requirements of recent regulations. After meetings with fund representatives to understand and prioritize the fund’s needs, it became clear that a restructuring of administrative and technology systems had to be considered to implement any compliance solution. In addition, to meet certain compliance deadlines, the acquisition and implementation of new technology had to be completed within nine months instead of the usual 12 to 18 months.

Our solution

Our team completed thorough assessments of requirements under the legislation and regulations. The latest technology in benefits administration was installed at the fund, which will soon have a web presence and Internet capabilities. Phase 3 projects are currently underway.

The result

In a short time, the client achieved its most important goal: the identification of compliance gaps and installation of new technologies and systems to close those gaps.

The fund is very pleased with our tailored solutions and ability to accelerate the process in the face of tight deadlines. In addition to ensuring adherence to compliance rules and regulations, the new technology will improve productivity and benefit fund membership and staff.