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The pension and retirement planning landscape has changed dramatically over the past few years. When examining our involvement in developing group benefit plans, we discovered that many businesses are unaware of their pension plan performance, as well as how little their employees understand financial preparation for retirement.
Are money managers’ fees fair?
Most pension plan sponsors–especially companies with established plans–have an understanding that investing fees are high. However, many don’t recognize which high-priced investments inhibit positive portfolio growth. In most cases, once a plan is established their advisors become inattentive and fail to monitor performance.
A poor performance of funds can seriously hurt your members’ ability to save properly for their retirement. Here is an actual case we observed:
With disappointing results like this, is your plan maximizing its full potential?
Green Benefits Group specializes in reviewing pension plans, recommending better investments and finding lower management fees. Through our national alliance, we are connected to a preferred pricing network that typically finds 20-25% lower fees than most impartial advisors would have access to. Similarly, our comprehensive analysis considers your company’s specific demographics and matches them to the appropriate carrier. We succeed when you and your plan members fulfill all financial goals. Better fees are out there. Let us help you find them.
The Power of Lower Fees
Maintaining the status quo with your current retirement plans can create a false sense of security. Plans are not being reviewed like their group health benefit programs and depending on the size of a retirement plan, the investment management fees (IMFs) could be half the cost of their entire benefit program.
Through a simple formula used in our complimentary audits, Green Benefits Group continually identifies plans that are slated to lose tens of thousands of dollars upon maturity because of poor investments, lack of engagement and disproportionately high fees. Even a good retirement initiative will derail quickly using the standard tactics. Sadly, employers don’t even recognize the failure of their plans because it is “the way benefits have always been done.”
You can review your retirement objectives with us and get back on track.
Decision makers have different priorities and that’s why it is important to identify everyone’s objectives. For example, if an employer determines that employee satisfaction is the long-term goal and cost management is the short-term goal, the company must find a way to allocate dollars between the health plan and retirement plan to facilitate both objectives.
Companies should also have a basic understanding about how their investment management fees work. At a minimum, employers should sit down once a year to review their fund lineup and how the plan is doing compared to other companies of the same size and in the same industry. They should know what their fees are buying them and what they will get in return – that’s the “power of lower fees.”