RETIREMENT & SAVINGS BENEFITS

Item # RAS1 - Employee Education to Put the 401(k) Savings Decision into Overall Financial Wellness (U.S-Only)                  

401(k) vendors communicate the advantages of saving and investing for retirement but they do not provide a larger contextual framework within which the employee can make an educated savings decision so as to help create a more financially stable employee overall. This vendor provides a series of live and/or web-delivered workshops that educate (not merely communicate facts and /or sell) employees on personal financial matters and retirement. Topics include Budgeting, Debt Management, Savings, Investing Basics, Retirement Planning, etc.

Item # RAS2 - Pre and Post-Retirement, Plan Asset Depletion and Other Post Retirement Risk Management Solutions for 401(k) Participants (U.S Only)                                                         

The Move from Defined Benefit to Defined Contribution Retirement Plans has shifted the Pre and Post-Retirement Investment Fluctuation Risks and the Mortality Risks over to Employees Arguably suggesting the need to Manage These Risks. The now Uncertain Future Income Streams further make the need for Mitigating Long Term Care and Post Age 64 Healthcare Risks for Employees even more Critical than before. This Consulting Approach assesses all Sources of Risk and Develops a Customized Risk Mitigation Solution tailored to the Employer’s Objectives so as to provide the Desired Security Options for Employees        

Item # RAS3 - Specialized in Stable Value Investments Only, Fee-Based Consultancy                                                                            

,

This Renowned Consultancy specializes in Providing Advice and Guidance around all Types of Stable Value / Low Volatility Investments. Services include evaluating Existing Stable Value Investments, conducting Investment Manager Search and Selection Studies and serving as an Expert Witness. Clients include Qualified Plan Sponsors, Investment Fund Managers, Law Firms and Others

Item # RAS4 - Little Known, Non Disability, Non Length-of-Service Related Pension Benefit for Low Income Veterans to Pay for Medical Expenses (U.S Only)                                                  

This is a Step -by-Step Guide purchasable by/ for those Qualifying Low Income US Veterans who a served at Least 90 days of Active Duty with at Least 1 Day during a War Period on how to qualify for a Monthly Pension Benefit. Monthly Maximums range from   $2,019 for a Married Veteran with Spouse to $1,094 for a Surviving Spouse. Monies must be used to Help Pay for Covered Out-of Pocket Medical Expenses such as Adult Day Services, Home Care, Family Caregivers, In-Home Safety Equipment, Assisted Living, Nursing Home Care, Medicare Premiums or Medical Co-Pays

Note: This servcie is no longer supported by the vendor but is left here on our website  as the valid informaion can be valuable for veteran employees. 

Item # RAS5 - Assessment of Feasibility of Using an ESOP as a Business Liquidity / Transfer Tool For Privately Held Companies (U.S Only)                                                                    

The Options Available to Private Company Shareholders seeking Liquidity for the Value of their Investment and / or wanting to Transition the Business in an Orderly Fashion are Complex and Riddled with Differing Consequences for the Various Parties Involved. This Highly Specialized Consulting Practice evaluates the Pros and Cons of using an Employee Stock Ownership Plan (ESOP) for Structuring the Sale of all or Portions of a Private Company’s Stock to an ESOP - including Financial, Tax and Fiduciary Considerations.  The Analysis explores the Range of Company Values plus the Options for Structuring the ESOP Transaction and the Varying Effects these can have on both Business Liquidity and Business Succession vis-à-vis other, Non-ESOP Business Restructuring Options

Item # RAS6 - Adjustable Benefits, Defined Benefit Plan with Low to No Volatility for the Plan Sponsor (U.S. Only)

Participants in DC Plans are saddled with Investment, Mortality and other Risks. Additionally, DC Plans do not offer any Type of Attraction and Retention Value for the Employer when trying to hire and retain Talent. This creates a “Lose/Lose” Proposition. This New Type of Defined Benefit Plan has little to no Contribution Volatility nor does it create any Unfunded Liabilities of Significance as the Participants’ Annual Benefit Accruals are adjusted as needed so as to create Financial Stability. The Plan can be funded with Employer Contribution Dollars that get redirected from an Existing DC Plan or from a Modified / Terminated Existing DB Plan. Surveys have shown Employees are attracted to and stay with Employers that offer some Form of True Retirement Income Security. This Plan thus creates a “Win/Win” Scenario    

 For more information click here 

 Item # RAS7 - Specialized Insurance Agency That Can Help with Annuitizing a DB Plan's Current Retiree Obligations so as to Improve the Investment Portfolio's Liquidity

 Obligations for Current Retirees Can comprise 30-50+% of the typical Defined Benefit Pension Plan's Total Liabilities. The Carrying Cost of these Liabilities can run 4%-8% of Trust Assets Annually (depending on Demographics and Plan Rules). One Solution involves a Risk Transfer where under the Pension Plan Annuitizes its Current Retiree Population with a Highly-Rated, Well-Capitalized, Insurance Company. This Independent Insurance Agency Specializes in securing Annuities for Defined Benefit Plans, Post-Retirement Healthcare Programs and other Purposes. After Annuitization which settles this Part of the Benefit Obligation, the Investment Portfolio is no Longer subjected to the Liquidity needs of Current Pensioners and can thus Focus on Investing for Growth so as to Minimize the Costs of Future Pensioners    

 

Item # RAS8 - No-Cost-To-Employer, CSR-Supported, SaaS-Based Retirement Assistance System to Help Employees Move from Active Status to Retiree Status (U.S. Only) 

 

Most all retirement information services today help employees save for retirement but fall short of providing information on how to actually transition into retirement. This service fills the gap for pre-retirement age employees, current retirees and the aging family members. The service is delivered via a SaaS-based on-line educational portal supported by a US-based advisor center staffed by salaried, credentialed and licensed advisors plus robust insurance and investment exchanges to assis employees with executing institutional solutions. Users receive help in 5 major areas; 1) retirement lifestyle planning 2) pre- 65 and post -64 health insurance options 3) distribution rollover options / all asset investment guidance 4) income optimization / Social Security and 5) risk management related to longevity, morbidity and mortality. Services are provides at no cost to the employer as they are funded by fully transparent user-purchases

 

For more information click here 

 

Item # RAS9 – Outsourced ERISA Plan Administrator with Independent Annual Certification Supported by External Counsel's Legal Opinion Letter (U.S. Only)

 

ERISA Plan Sponsors may desire to focus more efforts on running their businesses and less on managing the efficiency and effectiveness requirements of the DOL that relate to qualified plans. Under this outsourced arrangement, the named Plan Administrator and the related ERISA Fiduciary responsibilities get delegated to a pioneering, well-capitalized and nationally chartered institutional partner. Prudency is assured via an annual Certification process conducted by an independent consultancy that is staffed by former DOL investigators. Certification is supplemented with a formal Legal Opinion Letter prepared by an unrelated and thus, independent law firm

 

Item # RAS10 – Automated Qualified Plan Fee Disclosure Management System and / or Optional Fee Reduction Negotiation Services (U.S.Only)

 

The complex fee disclosure regulations from DOL require ERISA qualified plan sponsors to independently and objectively determine the adequacy of service provider service and fee disclosures and to determine that all the services a plan receives are necessary and that the fees charged are reasonable. To help with these requirements, a group of former Department of Labor senior investigators and ERISA attorneys has developed a system to help make these determinations that includes benchmarking and/or RFI and RFP-type processes. This system identifies all of the plan sponsors' requirements, determines what the Plan Sponsor needs to do to make the required determinations and includes pricing comparisons. With or without application of this system, the consultants can work with the Plan Sponsor to negotiate significant tangible and intangible benefits whether through direct fee reductions and /or enhanced and improved services.

 

 

Item# - RAS11 - Calculator to Determine Lost 401(k) Contributions Caused by Employees Engaging in Unhealthy Behaviors  

 

Half of all Americans have less than $10,000 in savings, and yet they spend monies on unhealthy behaviors that could otherwise be saved the amount of which was undeterminable - until now.  This lifestyle risk and lost savings dollars calculator was developed in 2012 by a practitioner with 40+ years of benefits experience. At the intersection between Wellness Programs and 401(k) Savings Plans, this Calculator effectively communicates the ills of unhealthy behavior, the dollars currently being spent on such behaviors and the long term retirement accumulation value of redirecting such new-found monies over to savings plans . Employees enter their own information on wellness behaviors, the hard dollar cost (e.g. 1 latte / day  X  @ $4.00 each  X  5 days a week  X  52 weeks = $1,040/ year ) is calculated and an individualized “health-to-wealth” plan is developed. Results for the employer include an increase in both healthy behaviors and savings plan contributions by employees. 

 

For more information click here

 

Item# RAS12 - Retiree Outsourcing Model that Combines an Individual Policy Exchange with a Traditional Group Policy Approach for Medicare Supplement Coverage

 

Retiree Medical Outsourcing using only an individual insurance policy exchange can cause consternation for retirees with resultant PR problems for the employer as retirees lose their tried and true coverage under the prior group benefits plan. This vendor provides retirees with both an insurance exchange and a group plan both at the employees’ option. Multiple insurance carriers and Medicare Advantage plans are offered as options on the individual exchange side. A fully-insured, ERISA-exempt plan is offered by a carefully chosen reputable carrier as an option on the group side. Retaining the group plan allows the retiree to participate in a comparable retiree plan they have been used to or any other customized plan design as group coverage is not constrained by standardized plan designs A through N. Experience shows that between 60% and 70% of retirees will retain the group plan in year 1 with some eventual migration to the exchange side over time as comfort levels grow.