While it is important to monitor plan design from a compliance and competitiveness perspective, PlanPILOT believes it is equally important to assess your plan design relative to the return on investment received by the plan sponsor. Plan sponsors should expect to receive value that exceeds their plan costs (employer contributions and administrative costs taken together).
Thoughtful plan design can have a significant impact on the hiring and retention of key employees, as well as improving employees’ retirement readiness. Furthermore, efficient plan design focused on maximizing long-term outcomes can lower employment costs, as both engaged and disengaged employees can be better positioned to afford retirement.
Our plan design services are focused on:
Maximizing Plan Sponsor and Participant Return on Investment
Identifying and Addressing Participant Savings and Investment Gaps
Improving Plan Participants’ Retirement Readiness
Improving Plan Efficiency to Reduce Costs and Related Administration