Defined Contribution Plan Services

Plan Design Review and Recommendations

The Plan Document and Summary Plan Description will be reviewed to ensure the current plan design meets both the participants’ and sponsoring organization’s needs.

Recommendations will be provided to plan sponsors to ensure any potential compliance issues are resolved.

Investment Analysis

The Plan will be analyzed to ensure that plan sponsors offer a diversified group of core investment categories representing a wide range of risk/return characteristics.  

The investment alternatives will undergo both quantitative and qualitative reviews; namely

  • Risk/return analysis relative to both benchmark index and peer group
  • Availability of the fund’s management team to satisfy their value proposition
  • Organizational stability
  • Style consistency

An Investment Policy Statement will be created/updated to ensure it includes criteria for the initial selection and ongoing monitoring of the investment alternatives under the Plan.

Plan Fee Analysis

The Department of Labor has introduced new fee disclosure rules.  As defined contribution plan sponsors continue to receive heightened scrutiny regarding fees, your Plan will be reviewed to ensure the following expenses and fees are reasonable and properly disclosed:

  • Plan related information with an explanation of administrative and individual expenses
  • Performance data for variable and fixed return investment options versus benchmarks
  • The expense ratio for each investment option expressed as a percentage and a dollar amount
  • The amount and description of any shareholder-type fees charged directly against a participant’s account
  • “All-In Cost” to operate the Plan will be compared to industry benchmarks from leading industry vendors

Participant Education

Plan participants must be provided with sufficient information to make informed investment decisions.  We can assist you in designing and delivering education programs containing both retirement planning information and clear investment instructions for plan participants.

We will also review the effectiveness of the participant education programs by analyzing participant account activity after programs are delivered.

Fiduciary and Compliance Review

Plan fiduciaries must act solely in the interest of plan participants and beneficiaries and carry out their duties prudently.  We will assist you in identifying all fiduciaries and review your records to ensure that all plan decisions are based on research and merit and are for the exclusive benefit of the participants.

A compliance review will also ensure that fiduciary standards are maintained in the following areas:

  • Summary Plan Description
  • Investment Policy Statement
  • Quantitative and qualitative fund analysis
  • Employee communications required under Section 404 (c)
  • Employee education programs
  • Participant disclosures
  • Completeness of fiduciary records including plan documents, legal correspondence, participant communications, investment offerings and investment committee actions

© Kamp Consulting Solutions, LLC, 34 Third Street, Midland Park, NJ 07432  Tel: 973-509-4616  Fax: 201-670-4454.

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