Business Retirement Plan Services
Business Retirement Plan Services
Employer-Sponsored Retirement Consulting
A retirement plan is a key benefit that can attract and help retain top employees. But it’s also an immense responsibility. Help your employees plan for a comfortable future by working with Rockland Trust. As a plan sponsor, you take on the fiduciary responsibility for the plan. When you delegate certain fiduciary responsibilities to us, you reduce your own risk as a fiduciary while also providing your employees with access to valuable advice about their future. We will work with your current provider to ensure that you have the best plan for you and your employees.
Our comprehensive retirement plan services include:
- Plan design consultation: We can work with you to craft a new plan document or evaluate your existing plan and recommend features that address your objectives and the demographics of your employees.
- Fiduciary/trustee role: As a co-fiduciary, we provide oversight and perform due diligence permitted under the plan. In certain instances, we can also act as a plan trustee.
- Service provider search: We can help you compare products from highly rated service providers that we feel are well-suited to your plan. View a sample provider comparison report.
- High quality investments: We select and deliver a broad array of suitable investments, then continually monitor their performance. For participant-directed plans such as 401(k) plans, participants may select their own funds or opt for a professionally managed portfolio model.
- Employee education/communication: Our team coordinates and delivers regular educational sessions and one-on-one advisory consultations to help your participants articulate and achieve their retirement goals. Our financial consultants are highly qualified, and most are Certified Financial Planners™ with specialized training in defined contribution and defined benefit plans.
- Fiduciary reviews: Our team meets regularly with you to discuss our service plan for the upcoming year, review investment performance, and consider potential plan enhancements. View a sample monitoring report.
- Transition services: If your plan transitions to a new provider, we will be there every step of the way.
Clear goals and objectives
An appropriate, properly diversified fund menu
A process that objectively verifies the appropriateness of plan fees
Documentation of fiduciary decisions
- Investment Policy Statement (IPS) development and fund due diligence
Coordinating service team members, investment, conversion, recordkeeping, administration, compliance, and education resources
Overseeing the conversion process and evaluating plan features and benefits
Working with you to determine strategies for administration, communications, and investments
Defined Contribution Plans
The Retirement Plan Services team provides an array of advisory services to make your job as a plan sponsor easier. In an environment of ever-increasing regulatory demands, our team helps lighten the burden of fiduciary responsibility by providing:
We customize your defined contribution plan based on your company’s unique needs. Our relationship team analyzes your business’s needs, objectives, and current retirement program; determine the appropriate plan design; and create the investment strategy best suited to your company.
In addition to providing fiduciary services, we work collaboratively with you to manage the plan by:
Undertaking proactive planning for product enhancements and investments
Defined Benefit Plans
As a defined benefits plan sponsor, you are entrusted with the task of managing the assets, but you may also be dealing with volatility in funding and coping with liability issues. Whether your plan is active, frozen, or terminating, the Retirement Plan Services team can help mitigate these concerns. Our services include: