Most employers in the education, non-profit and public sectors feel duty bound to help those so vital to our society prepare for retirement. Although most of these workers will have a pension plan as a foundation, today’s public plans often do not go far enough to ensure a comfortable retirement. Many employers offer a 403(b) or 457 plan to provide supplemental savings. Unfortunately, the combination of the two can still leave workers at loose ends.
The challenge is that many of these plans are woefully inadequate in terms of investment returns when measured against the unwieldy costs involved. And plan sponsors, even with the best of intentions, are often unaware of the shortfall. The situation is compounded by the fact that a great many of the plan providers in this space have inherent conflicts of interest that preclude bringing the facts to light.
BWC, on the other hand, can act as a full fiduciary assuming the responsibility for selecting, monitoring, and replacing investment choices and ensuring plan costs are appropriate and justified.
In addition, BWC offers consulting expertise with all other facets of your plan such as:
- Plan Design Review—with unbiased third party administrators
- Robust Investment Options—open access, non-proprietary solutions
- Full Back-office Integration—efficient plan administration and reporting
- Comprehensive Participant Support—from assistance enrolling new employees, to ongoing personal plan review and education, to guidance during the drawdown phase
Are you confident that you are delivering a retirement benefit that fulfills the spirit of your intention to reward and support your employees?