Offering a retirement plan can be one of the most challenging, yet rewarding, decisions an employer can make. The employees participating in the plan, their beneficiaries, and the employer benefit when a retirement plan is in place.

Administering a plan and managing its assets, however, require certain actions and involve specific responsibilities.

Each plan has certain key elements. These include:

  • A written plan that describes the benefit structure and guides day-to-day operations;
  • A trust fund to hold the plan’s assets;
  • A record-keeping system to track the flow of monies going to and from the retirement plan; and
  • Documents to provide plan information to employees participating in the plan and to the government.


For a service contract or arrangement to be reasonable, we will provide you with specific information about the services we provide to your plan.

Investment Policy Statement* - Your Financial Advisor will assist the Plan in the preparation or review of an investment policy statement (IPS) for the Plan based upon consultation with Plan Sponsor to ascertain Plan’s investment objectives and constraints.

Ongoing Investment Monitoring & Recommendations* – Your Financial Advisor will perform ongoing monitoring of investment manager(s) or investments in relation to the criteria specified in the Plan’s IPS or other written guidelines provided by the Plan Sponsor to your Advisor. Your Financial Advisor will recommend, for consideration and selection by Plan Sponsor, specific investments to be held by the Plan or, in the case of a participant-directed defined contribution plan to be made, available as investment options under the Plan. Your Advisor will recommend, for consideration and selection by Plan Sponsor, investment replacements if an existing investment is determined by the Plan Sponsor to no longer be suitable as an investment option.

Plan Search Support/Vendor Analysis – Your Financial Advisor will assist with the preparation, distribution and evaluation of Request for Proposals, finalist interviews, and conversion support.

Benchmarking Services – Your Financial Advisor will provide Plan Sponsor with comparisons of Plan data (e.g. regarding fees and services and participant enrollment and contributions) to data from the Plan’s prior years and/or a benchmark group of similar plans.

Education Services to Plan Committee & Participants - Your Financial Advisor will provide training to the members of the Plan Committee with regard to their service on the Committee, including education and consulting with respect to fiduciary responsibilities. Your Financial Advisor will conduct investment education seminars and meetings for Plan participants. Such meetings may be on a group or individual basis, and may include information about the investment options under the Plan (e.g., investment objectives, risk/return characteristics, and historical performance), investment concepts (e.g., diversification, asset classes, and risk and return).

*Not all Legacy Planning Partners Advisors can perform these services.