PLAN SPONSOR BENEFITS
Fiduciary Responsibility
Providing a retirement plan for your employees comes with certain responsibilities. The role of the plan trustees is to make “prudent expert” decisions for the plan participants. ERISA includes the prudent expert language to demonstrate the elevated responsibility imposed on plan trustees. What this means is the individuals responsible for making decisions for the plan must have the same ability and knowledge as an expert in that field. The investment field is a perfect example.
Companies often lack an individual qualified as an investment expert to make decisions regarding investment policies. These issues include designing an investment policy statement, diversification and asset class coverage, fund selection, and ongoing investment reviews. Insurance and Mutual Fund companies are rarely willing to share these responsibilities. Insurance companies offer group annuity contracts with inflated costs imbedded in their funds. Mutual Fund plans offer their own family of funds. They require you to use the funds they select; yet the responsibility for using their funds is still yours.
WealthHarbor recognizes the importance of managing fiduciary responsibility. We are willing to share that responsibility with you when it comes to investment selection. Here is the difference:
Best in Class Service
When it comes to 401(k) s, service is king. Service requires a responsive, user–friendly platform that saves your staff time and that your employees find convenient and easy to use. It means one stop support, unlimited access to plan information, on-demand statements, and state-of-the-art technology. The value of service is in minimizing problems and resolving the ones that do occur rapidly. The value of service is in local support. The value of service is in regular on-site visits. Service is anticipating needs and responding before problems occur.
At WealthHarbor, service is built on the attitude that we work for you. That attitude is demonstrated in our investment-neutral fund selection process, our fully disclosed fee structure, and our state-of-the-art record-keeping platform. Our commitment to service never stops and we invite you to enjoy the experience of working with a partner dedicated to you.
WealthHarbor Select 401(k) Service Standards
Our record-keeping partner delivers secure, highly flexible, technologically superior, and cost effective services designed to save you time. Your participants will enjoy user-friendly, fully accessible account information, daily valuation, daily account management capabilities, and on-demand customized statements that can be requested for any time period they desire. In addition to the local and online service assistance a call center is available for in-person assistance.
Employers can directly access census information, contribution processing, plan reports, and plan activity. A message center instantly delivers your communications to all plan participants.
Employees can change investment allocations and directly access online enrollment, plan investments, loans & distribution requests, an education center, and account statements.
Locally, our professional staff is available for enrollment meetings, investor education, Investment Committee meetings, annual reviews, and fiduciary management assistance.
Fiduciary Responsibility
Providing a retirement plan for your employees comes with certain responsibilities. The role of the plan trustees is to make “prudent expert” decisions for the plan participants. ERISA includes the prudent expert language to demonstrate the elevated responsibility imposed on plan trustees. What this means is the individuals responsible for making decisions for the plan must have the same ability and knowledge as an expert in that field. The investment field is a perfect example.
Companies often lack an individual qualified as an investment expert to make decisions regarding investment policies. These issues include designing an investment policy statement, diversification and asset class coverage, fund selection, and ongoing investment reviews. Insurance and Mutual Fund companies are rarely willing to share these responsibilities. Insurance companies offer group annuity contracts with inflated costs imbedded in their funds. Mutual Fund plans offer their own family of funds. They require you to use the funds they select; yet the responsibility for using their funds is still yours.
WealthHarbor recognizes the importance of managing fiduciary responsibility. We are willing to share that responsibility with you when it comes to investment selection. Here is the difference:
- Complete Investment Neutrality
- No Conflict-of-Interest in fund selection
- No Proprietary Funds
- Unlimited Fund Selection Screening Process
- Performance Driven Fund Selection
- Fully- Disclosed Pricing
- Credit Offsets Returned to Your Plan
Best in Class Service
When it comes to 401(k) s, service is king. Service requires a responsive, user–friendly platform that saves your staff time and that your employees find convenient and easy to use. It means one stop support, unlimited access to plan information, on-demand statements, and state-of-the-art technology. The value of service is in minimizing problems and resolving the ones that do occur rapidly. The value of service is in local support. The value of service is in regular on-site visits. Service is anticipating needs and responding before problems occur.
At WealthHarbor, service is built on the attitude that we work for you. That attitude is demonstrated in our investment-neutral fund selection process, our fully disclosed fee structure, and our state-of-the-art record-keeping platform. Our commitment to service never stops and we invite you to enjoy the experience of working with a partner dedicated to you.
WealthHarbor Select 401(k) Service Standards
- Phone calls and E-mails Returned within 24 hours
- Participant Statements On Demand, quarterly statements mailed within 15 business days of quarter end
- Plan Summary Reports On Demand, annual statements mailed within 15 business days of year end
- Contribution and Loan Repayments Invested within 48 hours of receipt of the accurate payroll file and funding
- Fund Exchanges Administered the same day if requested by 4:00 PM EST
- Loan Checks Mailed to participants within 3 business days of administrative approval
- Distribution Checks Mailed within 3 business days of administrative approval
Our record-keeping partner delivers secure, highly flexible, technologically superior, and cost effective services designed to save you time. Your participants will enjoy user-friendly, fully accessible account information, daily valuation, daily account management capabilities, and on-demand customized statements that can be requested for any time period they desire. In addition to the local and online service assistance a call center is available for in-person assistance.
Employers can directly access census information, contribution processing, plan reports, and plan activity. A message center instantly delivers your communications to all plan participants.
Employees can change investment allocations and directly access online enrollment, plan investments, loans & distribution requests, an education center, and account statements.
Locally, our professional staff is available for enrollment meetings, investor education, Investment Committee meetings, annual reviews, and fiduciary management assistance.
