As a retirement plan advisor, our job is to help employers to make their retirement plan successful.  Companies define success in different ways, but the first step in any engagement is for us understand what employers hope to accomplish with a retirement program. 

1.       Does your retirement plan have a purpose? 

2.       Is it successfully meeting that purpose?

In many situations the reasons for a retirement program may have changed as businesses mature and evolve.  Why have a retirement plan?  Here are some of the most common answers.

-  To help recruit and retain employees,

-  To provide executives and key employees with savings opportunities or supplemental compensation,

-  Because our competition has a plan,

-  To help our employees get ready to retire.

Regardless of the reason for a retirement program, there are several key steps to making a plan successful.  Our Six8 approach follows a roadmap that begins with the basics of plan management and ends, hopefully, with improving retirement outcomes for participants.

Over the course of the next few posts we will discuss the key components of a Successful Retirement Program and along with the Six8 Approach for each step.

1.       Plan Design & Management

2.       Investments

3.       Fiduciary Outsourcing

4.       Implementation

5.       Participant Engagement