Plan Design and Administration
When you work with RKL’s Private Wealth Team, you’re guaranteed a tailored retirement plan designed for you and your employees’ needs. Your advisor will thoroughly assess your goals and work with you to ensure your plan meets those goals.
Driving Retirement Success with Expert Guidance and Continued Support
Our plan advisors are dedicated to empowering and supporting plan participants by offering the following:
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- Personalized retirement planning and investment advice
- Plan, enrollment providing ongoing education
- Financial wellness support
- Preparing for retirement
It doesn’t stop there. RKL’s Private Wealth team continuously monitors performance and investments and makes strategic adjustments that benefit you and your team. We actively engage you through educational initiatives, manage relationships with service providers and ensure regulatory compliance, optimizing outcomes for both plan sponsors and participants.
RKL is a 3(38) Investment Advisor with discretionary authority to manage your retirement plan’s investments. Acting as a fiduciary under the Employee Retirement Income Security Act of 1974 (ERISA), RKL Private Wealth selects, monitors and replaces investment options, mitigating the plan sponsor’s liability.
Managing Your Service Providers, Reducing Your Risks
RKL Private Wealth assists plan sponsors with service provider management by identifying, negotiating, monitoring and ensuring compliance of providers to optimize plan operations and expenses and mitigate risks. We ensure your plan operates efficiently and effectively to enhance its overall performance.
At RKL, we prioritize maintaining compliance with all applicable laws and regulations for your retirement plan. This is vital for maximizing participants’ financial security and peace of mind while fostering trust and transparency among employers, employees, plan sponsors, and service providers.
RKL’s Private Wealth team helps plan sponsors with compliance in areas including:
- Adhering to ERISA and DOL regulations
- Plan document compliance
- Timely and accurate reporting and disclosures
- Maintaining fiduciary responsibilities
- Implementing proper plan governance and documentation procedures
- Nondiscrimination testing guidance
- Applying best practices
- Understanding and enforcing approaching regulations
Utilizing the Latest Technology for Seamless Plan Management
RKL Private Wealth deploys technology solutions that improve plan management and compliance. This involves implementing sophisticated recordkeeping systems for streamlined data management and reporting, integrating payroll solutions when possible and providing investment management reporting for the due diligence on the plan investments. RKL Private Wealth also utilizes technology to provide retirement income projections and solutions to enhance retirement readiness.
Expert Communication to Keep Sponsors and Employees Informed
Your RKL plan advisor facilitates communication with the plan sponsor by providing regular updates on plan performance, regulatory compliance and strategic recommendations to enhance plan effectiveness.
Your trusted advisor also facilitates an annual plan review meeting with your committee, which focuses on:
- Investment performance
- Participant engagement
- Compliance with regulations
- Expense review and benchmarking
- Plan design effectiveness
- Upcoming regulation changes
- Strategic best practices for improvement
When you work with RKL Private Wealth, you get access to an educational resource for your employees. Your advisor will assist newly eligible individuals with enrollment, guide investment allocation choices, offer personalized retirement planning advice and keep them informed about changes or opportunities within the retirement plan. This thorough communication ensures that both sponsors and employees are well-informed, engaged and empowered to make strategic decisions regarding their retirement plan.
Comprehensive Resources to Empower Sponsors and Employees
Your RKL plan advisor provides comprehensive resources for both plan sponsors and participants, including:
- Plan design and strategy
- Fiduciary support and risk management
- Detailed plan performance and investment reports
- Compliance and regulatory guidance
- Service provider management and benchmarking for sponsors
- Participant educational materials
- Enrollment help and ongoing education
- Investment selection and monitoring
- Personalized retirement planning support
These resources ensure that both sponsors and participants are well-equipped to manage the retirement plan effectively and make informed financial decisions.
