Defined Contribution Plans
In addition to securing your own retirement, as a retirement plan sponsor, it’s important to offer your employees the opportunity to plan ahead for their life passed employment as well. We believe people are becoming more and more concerned about having enough resources to not only sustain their lifestyle in retirement, but to also have the freedom to pursue other passions beyond their previous profession.
At BWC, we understand the perspectives from both sides of the table, enabling us to craft defined contribution plans that benefit you, as well as your employees. We strive to create a solution for you and your staff so everyone can focus on maintaining a successful career and outlook.
401(k)
In our opinion, providing the means to ensure a comfortable retirement is a key element in attracting and retaining a talented workforce. But the responsibility doesn’t end there. As a plan fiduciary, you’re held to the highest standards of ethics and responsibility under the law.
Fiduciaries are required to act solely in the best interests of the plan participants, act in a prudent manner, diversify the plan's investments, and ensure that the plan expenses are reasonable. There can be providers that have inherent conflicts of interest. BWC, as a fiduciary, will share in these responsibilities and strives to eliminate any conflicts of interest.
In addition to helping ensure plan compliance, BWC offers consulting expertise with all other facets of your 401(k) 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.
- Cost containment to eliminate excessive and unnecessary fees.
- Comprehensive participant support throughout the whole process.
401(a), 403(b) and 457
We believe most employers in the education, nonprofit and public sectors want to help those who serve our communities prepare for their retirement. Although these workers may have a pension plan as a foundation, it does not go far enough to ensure a comfortable retirement. Many employers offer a 403(b) or 457 plan to provide supplemental savings.
The challenge: These plans may be woefully inadequate in terms of investment returns when measured against the costs involved. In our experience, plan sponsors — even with the best intentions — may be unaware of the shortfalls. The situation can be compounded by inherent conflicts of interest that preclude bringing facts to light.
BWC can act as a fiduciary and assume the responsibility for selecting, monitoring and replacing investment choices and reviewing plan costs are appropriate. Additionally, BWC offers consulting expertise in 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 throughout the whole process.