401(k) & Business Retirement Plan Advisory
A Retirement Plan Should Work for the Business and the People Behind It
A well-designed retirement plan is more than an employee benefit.
It can help business owners attract and retain talent, create meaningful retirement opportunities for employees, support the owners' own financial objectives, and manage important fiduciary responsibilities.
TriState helps businesses evaluate, manage, and improve their retirement plans with advice that considers both the organization and the people it serves.
A retirement plan can be successful on paper and still fall short.
The plan exists.
Contributions are being made.
Investments are available.
Employees can participate.
But those facts alone don't tell you whether the plan is accomplishing what it should.
As businesses evolve, retirement plans should be periodically evaluated around questions such as:
Is the plan design still appropriate for the business?
Are owners and key employees able to save as effectively as they could?
Are fees and investments being reviewed through a documented process?
Are employees actually using and understanding the benefit?
Are the plan's service providers working together effectively?
Does the plan still support the company's broader goals?
Advice Across the Retirement Plan
Plan design
Review and assess current retirement plan, identify strengths and weaknesses, and recommend design changes to better align with company goals and improve overall impact.
Investment analysis
Our Scorecard System™ offers a 10-point scoring approach to independently analyze your portfolio, evaluating over 40,000 investment options and tracking nearly $400 billion in retirement assets across multiple platforms.
Fiduciary compliance
Educate fiduciaries on relevant topics as recommended by DOL best practices. Implement a simple yet effective fiduciary process, whether as 3(21) or 3(38) fiduciaries, ensuring top-tier protection for plan fiduciaries.
Employee education
Many participants find their retirement plan options confusing. We utilize technology and personalized communication to help them navigate their choices and achieve their retirement goals.
What Good Oversight Looks Like
A better plan doesn't require constant change. It requires a disciplined process.
TriState helps establish an ongoing rhythm for reviewing the plan rather than waiting for a problem to create urgency.
REVIEW - Plan design, investments, fees, participation, service providers, and relevant changes to the business.
IDENTIFY - Determine where meaningful opportunities, risks, or gaps exist.
COORDINATE - Work with the employer, recordkeeper, TPA, payroll provider, and other professionals as appropriate.
DOCUMENT - Maintain a consistent process around decisions and fiduciary oversight.
The objective isn't to change the plan every year. It's to know why the plan is structured the way it is and whether it continues to serve its purpose.
Is your retirement plan doing what you think it is?
Whether you're evaluating an existing plan, considering changes, or simply want a second perspective on how the plan is structured and managed, we'll help you understand what's working, what deserves attention, and what should happen next.
A strong retirement plan should create value for employees, owners, and the business itself.