We’ve had the privilege of adding decades of retirement income to participants by leveraging technologies and efficiencies once reserved for fortune 500 companies and implementing those strategies for plans of any asset size. Learn More
Governance & Compliance
Today, plan fiduciaries are carrying out their duties in an increasingly demanding...
Investment Due Diligence
Selecting and monitoring the plan‘s investment options is a complex task but as...
Fees & Expenses
An increasing amount of attention is being paid to plan fees. Simply stated,...
Fostering better usage of your plan doesn’t just help employees become better prepared...
Types of Plans We Manage
- 457 Governmental
- Profit Sharing
- Money Purchase
- Employee Stock Ownership Plans (ESOP)
- Cash Balance
- Deferred Compensation
- Supplemental Executive Retirement Plans (SERP)
- Defined Contribution Long Term Incentive Plans
- Nonqualified Survivor Benefit Plans
- Supplemental Executive Benefits
Our Retirement Plan Process
Centric Wealth implements the award winning Self-Assessment of Fiduciary Excellence—a four step process that repeats itself perpetually—to streamline our engagements with all our clients. The SAFE Process is consistent with our Firm’s client centric methodology and the four pillars of the Fiduciary Standard: Principles, Process, Prudence, and Consistency. Below is what an engagement would look like while collaborating with Centric Wealth:
In this stage of the SAFE Fiduciary process, the roles and responsibilities of all involved parties are clearly defined and documented. In addition, the service agreement is drafted contracting and allowing Majors & Mondragon to commence going to work on the plan sponsor’s behalf to make the retirement plan more effective and efficient. Record Keepers and TPAs alike are screened and interviewed to compile only the finest assembly for the plan.
This stage of the process is reserved for identifying an appropriate plan design for the corporate retirement plan and identifying the investment offering for the plan as well. In addition, the governing documents are drafted during this stage as well. It is during the drafting of the governing documents where we uncover the plan sponsor’s goals, the important provisions that must be stated within the plan including loan provisions and safe harbors, along with a multitude of additional details that is to be documented.
During this stage of the process, the corporate retirement plan is officially created. We work extensively with the plan sponsor to ensure that the plan establishment is executed seamlessly and smoothly. Also, employee education takes place during this stage of the process. The employee education takes place in the form of live, on-sight enrollment meetings with each individual illegible employee.
Periodic reports which are made of qualitative and quantitative analysis are generated that compare investment performance against appropriate index, peer group, and investment policy statement objectives. Further analysis is presented on employee participation as it pertains to deferrals and contribution influx, plan growth, and compliance testing, amongst other components of plan governance. To that effect, the plan’s overall health including record keeping fees and TPA fees are benchmarked against those of its peers to ensure that the plan is besting industry standards.
Let us embark on a journey to enhance your 401k today!
Allow Centric Wealth to treat you to the quintessential client experience by providing you with a complimentary comprehensive benchmark analysis of your plan. Simply submit your 408(b)(2) and we’ll take it from there!