Retirement Plan Services
Maintaining an appropriate retirement plan for your company often seems like
an impossible task - especially when you consider everything else that goes
into running a business. But for our consultants, it's all in a day's work.
Bukaty Companies Retirement Plan Services team of professional consultants can
assist you with all aspects of the design, implementation, IRS and ERISA
compliance of your qualified and nonqualified benefit plans. We form long-term partnerships with you as our client to develop a retirement
plan that supports your business strategy
and achieves your benefit objectives. Our comprehensive plan analysis and
ongoing plan management and review process assist you in meeting your stated
plan objectives while increasing plan services, and minimizing your fiduciary
liabilities and plan expenses. You will receive personalized attention and
involvement at the level you want and need. By working with our consultants,
you will gain the following benefits:
Retirement Plan Needs Assessment
Has your plan kept pace with the needs of your business and the speed of
technology? Are you satisfied that you have all the necessary requirements in
place to meet your fiduciary responsibilities or for 404(c) compliance? If you
worry that your plan is falling short in the services you receive, or the
technology, plan features and investment options it offers, it may be time for
a provider change. We can help you evaluate your existing plan, plan
provider, plan features, and investment options to ensure that your company is
providing a valuable and competitive benefit for your employees.
Thorough Vendor Search
Do you have the time, resources, and expertise to conduct a diligent search
process? The landscape of service providers is rapidly changing and evolving.
In addition, technology has greatly altered some of the features available in
some 401(k) offerings. We are in frequent communication with service providers
and can help you objectively evaluate each program’s strengths and
weaknesses. Armed with knowledge and experience as well as an understanding of
your employees and company’s needs, Bukaty Companies Retirement Services
can often save you time and avoid costly mistakes in the vendor search and
selection process. During the vendor search, we can provide the following
services:
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Solicit proposals and help evaluate each option based upon agreed criteria
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Assist in identifying those service providers whose solutions match your
company’s needs
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Invite a select few service providers to present their program in more detail
When you evaluate your final choices, how can you be sure that you are asking
the right questions and not being misled? For starters, we can present service
providers with solutions that address your needs. We
will be your advocates as you invite provider sales professionals to present
their programs. You can gain the advantage of our expertise in these meetings
as we raise important questions and provide illustrations as you come to a
final decision. We can help you pinpoint the strengths and weaknesses of each
possible retirement plan provider. Once you are comfortable that you have done
your due diligence, we can support you in taking the next steps to implement
your plan.
Plan Design Support, Plan Integration & Database Management
Are you comfortable selecting and designing your company’s retirement
plan without any assistance? When selecting and designing a retirement plan, a
plan sponsor must consider such issues as employee demographics, the goals and
challenges of the company, and the financial implications of offering a plan.
Some plan design decisions and provisions are irrevocable, meaning they can
only be changed by terminating the plan. Other changes may require plan
document amendment and filing with the Internal Revenue Service. Bukaty
Companies Retirement Services can work closely with your company’s
various stakeholders to sort through the different options. This assistance can
be invaluable in matching your company’s needs with service
providers’ programs and features.
Data, administration and process issues account for a majority of retirement
plan operational problems. An enormous amount of data moves each time a
contribution is made. This data flow becomes even more challenging during a
transition to a new provider, corporate merger or acquisition, implementation
of a new system or staff change. Data management also helps companies automate
routine or mundane tasks associate with the daily management of their
retirement plans. At Bukaty Companies Retirement Services, we build proactive
solutions with you to ensure that all data moves properly by planning flows,
format and process down to the last detail.
The initial implementation meeting and on-going coordination is a key element
in completing a successful transition to a new investment provider. Throughout
the implementation process, Bukaty Companies Retirement Services provides the
guidance; support and expertise required to make it a smooth transition.
Participant Education
Do you have an effective and executable plan to educate your employees on the
benefits and features of your retirement plan? Having a communication plan
helps plan sponsors document ongoing participant communication efforts. In
addition, implementing a well-constructed communication plan may often help to
meet some 404(c) requirements. Bukaty Companies Retirement Services can work
with the appropriate representatives of your company to help develop a
customized communication plan. The communication plan objectives will help us
jointly develop a strategic communication and education strategy with our
clients. Some of the components may be group meetings, individual meetings,
customized newsletters, information tables, new employee orientations, and
other on-site activities. The result will be a tailored participant education
plan that addresses your employees’ need for understanding investing and
their retirement plan. Your customized communication plan will outline an
approach for your organization to address various goals, whether they include:
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Helping employees understand the benefits of their retirement plan
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Suggesting options to maximize participation
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Providing information to help increase deferrals
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Helping to explore appropriate asset allocation
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Offering ongoing education about retirement planning
Investment Selection and Ongoing Monitoring
Are you meeting your fiduciary responsibilities with regard to monitoring your
investments? Do your plan’s investment options accommodate today’s
increasingly market-savvy investors and their long-term financial goals? Do
your plan’s investment options accommodate participants that need
investment help? ERISA dictates that plan sponsors are required to select and
monitor investment options offered in a retirement plan. To assist you in
meeting your obligations, Bukaty Companies Retirement Services works with our
clients to refine the plan’s Investment Policy Statement and providers to
monitor and analyze investment performance, risk, expenses, etc., using various
reporting agencies and databases. We provide you with documented reports to
support your fiduciary decision making. Helping you identify broad and
thoughtful investment choices for the plan is one way we can help. We are
qualified to:
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Work with you to analyze current participant behavior
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Analyze the options available through your plan provider to help ensure that
there is adequate representation of investment categories for your participants
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Provide information in evaluating investment offerings as needed
On a quarterly basis, Bukaty Companies Retirement Services will prepare an
observation of the investments within the plan. Bukaty Companies Retirement
Services will attend, on a periodic basis, investment committee meetings
to discuss our observations and address the concerns of the client.
Defined Benefit Services
After having identified the funding goals of the plan sponsor, Bukaty Companies
Retirement Services will compare the plan design to the established goals and
complete an investment performance analysis for your plan. Our investment examination will begin by reviewing the Investment Policy
Statement and the investment asset classes in your plan. We then analyze
individual investment managers to help ensure they meet the guidelines of the
plan’s Investment Policy Statement and the employee demographics as well
as future liabilities.
Bukaty Companies Retirement Services works with you and your defined benefit
plan administrator in determining which investment options will most likely
serve the needs of the plan. On your behalf, our experienced retirement plan
professionals prudently search, screen and select private money managers to
manage the plans assets.
Consulting Services
Bukaty Companies Retirement Services will proactively help your business by
interpreting legislative changes, identifying industry trends and delivering
targeted pension and retirement plan solutions for businesses ranging from
small partnerships, to large healthcare institutions, publicly traded
businesses, not-for-profit organizations, municipalities, and just about every
other type of enterprise.
Bukaty Companies Retirement Services makes sure that you are informed about
the latest regulatory and legislative developments in the retirement plan
marketplace and retirement industry trends. Insuring that you know how current-day trends can affect your plan, can be one of the important services that we
provide.
Technology and a competitive environment continue to compel service providers
to enhance their programs. We can make sure that you are aware of any service
provider and program changes that affect your plan, as well as provide
information aimed at making sure your plan maximizes the benefits that result
from these new opportunities.
For more information click here.
Wealth Management
Bukaty Companies has in-house wealth management
expertise to help you build and protect your financial future. Our dynamic
total wealth management approach is customized to meet your unique financial
needs and objectives. We follow a comprehensive five-step process designed to
determine the optimal approach to managing your assets.
1. Discovery – Understanding your personal,
professional and financial life goals
2. Education – Discover the risk/reward characteristics
of different asset classes and their contribution to the overall portfolio
asset allocation
3. Recommendation – The optimal blend of investments to
your goals
4. Implementation – The methodology employed to
construct your portfolio
5. Active Management – Regular review of the
portfolio’s performance
For more information click here.
Securities offered through NRP Financial, Inc. Member FINRA/SIPC
Advisory services provided by NRP Advisors, Inc. |
