Retirement Services

Administering retirement plans has been found to be one of the most challenging aspects of the financial industry.

The team at CenterCoast Private Wealth Management has worked diligently to develop a process that helps educate fiduciaries and participants as they save for retirement.

Best Practices

1. Each plan receives a file to consolidate files and create a process for:

Plan documents
Investment policy statement
Investment review
Fee review
Participant education
Documenting 404(c) compliance
Meeting minutes
Participant issues
Benchmarking
Form 5500 documents

2. Each plan satisfies a year-end fiduciary checklist to document compliance of 404(c) regulations

3. If the current plan is not a proper fit for the organization, we will perform the due diligence to evaluate a more appropriate plan

Moving the Needle: Practical Education

1. Most plan participants are in need of understandable education regarding:

Investment concepts to help preserve savings
Savings necessary to replace current income
Identifying unseen roadblocks of which to be aware

2. We will evaluate success measures to help improve retirement readiness:

Deferral rates
Employee participation
Average account balances
Fees