Exclusively for chapters and eligible members
As a member of ABC, you may become a participating employer in the ABC Retirement & Savings Plan. As a participating employer, you no longer have the administrative and operational compliance responsibilities for managing a plan. It truly is as the tagline above states -- "Your Retirement Plan. Simplified!" Let us tell you more.
A key benefit to participating employers is the professional management of the plan by an Independent Fiduciary. Fiduciary Consulting Group provides compliance and oversight of the plan, the participating employers, and the service providers. FCG is not affiliated with any service provider which allows them to provide conflict-free management and oversight of the plan's service providers.
FCG submits to an annual certification audit by the Centre for Fiduciary Excellence (CEFEX). FCG is certified in serving as an ERISA 3(16) Named Plan Administrator and ERISA 402 Named Fiduciary.
Our plan welcomes employers with large plans, small plans, or no plan. The benefits vary but every employer benefits by joining with dozens of other employers to create real purchasing power as a group. In our opinion, the more assets a plan has the greater the negotiating power and enhancement to services by quality service providers with expertise in their respective fields.
Managing your own retirement plan can be complex and time consuming. Generally, it requires a huge time investment into gaining the compliance expertise needed for effective ongoing administration of the plan and oversight of internal controls and staff. In addition, it takes time to set up governance protocols, committee meeting procedures, appointment and oversight of fiduciaries, equipping of plan trustees, and the other required actions and decisions of an employer to see that the the plan and investments are appropriately managed on behalf of your employees.
Becoming a participating employer in our plan outsources your responsibilities in these areas and allows your employees to focus on what they were hired to do. This decision reduces the risk of non-compliance to the employer and eliminates the responsibilities and risk to your employees.
If you currently have a plan, hopefully it was deigned specifically for your company needs. In some cases, you may have an off-the-shelf product and never had a chance to speak with a plan design specialist. When you become a participating employer in our plan, you have access to speak with a professional consultant that will help you design a plan that meets your company objectives. From eligibility provisions to employer contributions, you have the flexibility to customize the plan benefits to meet your company's needs and objectives.
How do your investment choices measure up to your employees needs and their tolerance for risk? We believe that we have created a menu that not only provides your employees with great investments, but our professionals are focused on your employees having a successful experience in saving for retirement.
Our plan uses an "open architecture" platform allowing investment professionals to craft an investment menu from a virtually unlimited number of investment choices (mutual funds, collective investment trusts, exchange traded funds, etc.) with NO revenue sharing or indirect compensation payments. Employees may select a risk-based allocation model or a target date fund; or they may create their own personal portfolio from our best-in-class investments.
Our plan comes with great investments, great advice, no proprietary fund restrictions, and the lowest cost share classes available.
Large plans generally get better pricing, creating real savings for you and your employees. As a participating employer, there are no plan document fees and no legal fees. If you are a large plan filer and currently have an annual audit, the costs of your audit will drop substantially saving you, or your employees, thousands of dollars. Employees benefit from the lower investment expenses with the use of lower cost share classes. With less burden of expense passed to employees, they can effectively save more for retirement.