Employer Sponsored Retirement Plans
Our Goal as a Retirement Plan Advisor
At Lake Tahoe Wealth Management, our number one goal is to offer comprehensive retirement plan advisory and investment management services to small retirement plans. We want to partner with plan sponsors to help them address challenges that are often common with small plans:
- Their fiduciary roles and desires to bring in outside investment advisors to help them meet their fiduciary obligations, address compliance needs, and stay up to date on regulatory changes
- Need for knowledgeable advisor to enhance investment performance in alignment with a formal investment policy statement. We have a low-cost service solution, combined with our investment consulting expertise.
- Need to reduce costs, and have an advisor with transparency in fees.
- Need for regular and timely service to ensure plan objectives are met, and dialog on how to implement future improvements and changes to address growing needs of the business and participants
- Need for participant education to improve participation and optimize participant plan retirement outcomes
- Help fiduciaries with their responsibilities to monitor plans, service providers, fees, investment performance, participation, and plan design amendments if needed
- Industries: Manufacturing, professional services and medical offices
- Two platforms: 1) start- up plans, and 2) plan sizes above $1 million in assets
- Number of participants – up to 300 participants
Our Unique Value
- Full Service Investment Advisor – We have a team of experts in financial planning, investment analysis and retirement plan design and administration. We have established tools, processes and procedures to enable us to support our individual and institutional clients.
- Established Partnerships – As fiduciaries, we understand the importance of seeking expert partners in plan design, administration, record keeping and custodian support, and pay reasonable fees for those services. We have identified Third Party Administrators and actuaries specifically that offer high service quality and competitive fees, but are flexible to work with an existing TPA that you have established relationship with. We use record-keepers with an open architecture platform that allows us access to low cost index and passively managed funds.
- Plan Design – We utilize our in-house and plan administrators’ expertise to assist plan sponsors in designing a retirement plan that meets the objectives of the organization and plan participants. Our goal is to ensure the plan meets the unique goals of the business. Rather than selling you a plan, we will work with you to design the best plan for your specific situation, and we’ll assist with the selection and evaluation of other service providers, including Third Party Administrators, actuaries, record-keepers and custodians.
- Investment Management – We deploy individualized behavioral finance based tools to understand individual client’s unique goals and objectives for retirement savings and income. Clients’ portfolio is monitored and rebalanced by our CIO, who ensures that participant investments are in line with their objectives. Our disciplined fiduciary role helps mitigate liability for plan sponsors, by ensuring participant investments are managed based on established Investment Policy Statement.
- Fiduciary Role – We assume the fiduciary responsibility outlined in ERISA section 3(38) Investment Manager, which relieves plan sponsors of their fiduciary liability for participants’ investment management decisions. Retirement plans require prudence in all areas of plan management. As a fiduciary partner, we ensure sponsors have the support they need to ensure compliance with strict ERISA prudence requirements with respect to an investment or an investment course of action. Appropriate consideration includes a determination by the fiduciary that the particular investment or investment course of action is reasonably designed to further the purposes of the plan, taking into consideration the risk of loss, the opportunity for gain, and such other factors as
- Following prudent guidance in alignment with best interest of participants and beneficiaries
- Establish processes and document all decision and actions taken with regards to plan management
- Monitor plan and investment costs to ensure they are fair
- Safeguard portfolio in alignment with funding objectives of the plan
- Participant Support – As the plan advisor, we believe the success of plan participants is the ultimate goal of sponsors. We offer plan sponsors and participants investment management education to empower them to make informed decisions about their level of participation and investment selections. We want to support the sponsor in maximizing participation in the plan, and help participants achieve timely retirement goals.
How we work with Retirement Plan Sponsors
- Benchmark existing plans in terms of expenses – in accordance with ERISA 408(b)(2) – and investment performance, sharing our transparent fees and performance of model portfolios.
- Work with sponsors to ensure plan design meets their objectives, as well as addresses participants’ needs.
- Set up service structure by partnering with plan administrators, record keepers, custodians/trustees, and investment vehicles providers.
- Offer assistance with plan design through collaboration with plan sponsors and third party administrators, understanding business and participants’ objectives.
- Utilize established processes and automated tools to set up new plans and to facilitate seamless transition of existing plans as well as automatic participant enrollment.