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Annual Retirement Review
The Ryding Company team can participate in your annual plan review to document how well the plan is being managed and provide expert recommendations.
What is an Annual Plan Review?
It is a fiduciary's responsibility to annually review various aspects of the plan so that you can document how well the plan is being managed and determine whether the plan's funds are meeting the performance criteria of the company's Investment Policy Statement (IPS). Additionally, it's important to have an annual review for financial planning so that fiduciaries can periodically evaluate fee disclosures for reasonableness.
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Who should conduct the Annual Plan Review?
Reviews should be conducted with investment advisors, plan custodians/trustees, and a third-party administrator (TPA). The financial advisor can focus on investments, while our TPA expert can highlight plan design and compliance. We can recommend a design change or confirm that the existing design is meeting the plan sponsor's needs, which adds considerable value to the conversation.
What is reviewed?
The review process should include an examination of the plan's overall mission and its goals and objectives. Fiduciaries should ensure the operational aspects of a retirement plan, including eligibility, employer/employee contributions, eligible compensation, definition fees, and ongoing plan performance.
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