Retirement plan
benchmarking / plan design

Are your retirement plan
and its costs up to par?

Does your plan need a review?

In a plan review, AGH's employee benefits consultants analyze plan documents and investment information to determine the true costs of a retirement plan – both for the plan sponsor and the participants. Those costs are then compared to industry benchmarks and can be used as a negotiation tool. A review and benchmark study could potentially result in netting significant savings even after the study expense.

See how our retirement plan benchmarking service could help your organization.
Contact us to learn more.

Retirement plan benchmarking / plan design

Consider who benefits

Any company with a qualified retirement plan

Organizations uncertain of whether their retirement plan's fees are competitive or what fee levels are being charged

Organizations whose employees desire more investment options, better service or more access to retirement plan fund information

Consider the benefits

Help meet fiduciary responsibility requirements of providing a fair return with reasonable plan fees

Potentially reduce costs associated with providing employee retirement plans

Potentially increase employee satisfaction with retirement plan through better understanding of how to make investment decisions

How AGH's retirement plan benchmarking / plan design service can help your organization

Ensuring that retirement plans are cost-effective can be difficult, simply because plan costs are hard to discern. Some costs may be borne upfront by the plan sponsor. Others may be paid from investment earnings within the plan and, as a result, go unnoticed since the participant does not see an out-of-pocket expense.

It is both good business sense and a plan sponsor's fiduciary responsibility to make sure a retirement plan's costs are in line. Industry consultants are predicting an increase in litigation related to retirement plan management, so it is in the plan sponsor's best interests to ensure that employees are not penalized financially with returns lowered by high administrative and other fees (U.S. Supreme Court 2015 - Tibble v. Editson International).

If, after review, the plan's costs or structure are not aligned with the organization's needs and fiduciary responsibility, AGH can design a retirement plan around meeting those goals. For example, does the organization seek to create a plan that helps recruit and retain employees, maximizes shareholder return, or rewards long-term or highly compensated employees?

Our consultants look at the organization's existing employee benefit programs and develop a plan design that best complements them and will scale with an organization's potential growth or downsizing. Once an overall framework is established, our consultants outline a plan and work with the plan sponsor's ERISA counsel or a third-party counsel to create a formal plan document and implement it.

To execute, AGH can help the organization put the other three components of a retirement plan in place: recordkeeping, investment management and education. AGH and its affiliated entity have extensive experience in those areas. We also work with outside investment managers and other providers utilized by the organization.

Learn how AGH can help with your retirement plan benchmarking / plan design. Click to get started.

Brad Bechtel

Senior Vice President , Employee Benefit Services

Brad Bechtel leads AGH’s employee benefit services (EBS) division, which serves clients nationwide. EBS is one of the region's largest providers of retirement plan recordkeeping services for daily valuation plans. The division provides consulting services to clients on employee benefit plans, including plan design, implementation, operation, fiduciary due diligence, compliance, and through affiliate AGH Wealth Management, discretionary and non-discretionary investment fiduciary services, investment advisory services and employee education.

Bechtel is experienced in executive compensation, including non-qualified, phantom stock, top hat and excess benefit plans, as well as other deferred compensation approaches. He has consulted for numerous Fortune 500 corporations on investment management and fiduciary due diligence. He also provides search and selection due diligence consulting services for companies seeking new investment and recordkeeping providers for their qualified plans. Bechtel is a registered investment advisor who holds Series 7, 24 and 66 FINRA registrations, and he is a member of the American Society of Pension Professionals & Actuaries.