Your Access to Company Retirement Plan Options & A Richer Retirement Life Have Changed…
…For The Better.
Get a Better, Lower Cost Plan Powered by RetireWell’s Professional Fiduciary Governance Solution, FiduciaryMaxx.
If your company plan is more than two years old, the odds are that it was sold by an insurance, mutual fund or payroll company focused on selling their own investment products and services; often with unnecessary and/or hidden fees and expenses that can wipeout up to 28% of your retirement account. (DOL “A Look at 401(k) Fees)
These plans also expose owners and executives to unmanaged and often unknown corporate and personal fiduciary and financial liability.
Now, with the rise of modern, cloud based FinTech recordkeepers and TotalOutsource Administrators(TM), access to the institutional level TrueOpen investment platform from Matrix Trust, and RetireWell’s Accredited Investment Fiduciary (AIF) platform FiduciaryMaxx(TM); you can provide your company with a lower cost plan with top tier nonproprietary investments carefully selected and monitored from over 30,000 options, a better participant experience with engaging education and a fully outsourced administration solution that frees up you and your staff – completely.
And, along the way, better insulate you, your executives and your company from your plan’s inherent personal and corporate fiduciary and financial liability.
Sleep Well at Night With RetireWell’s FiduciaryMaxx Solution..
The Most Comprehensive Fiduciary Protection Program for Owners, Executives, Board Members and Plan Fiduciaries.
3(16) Fiduciary Services
Full Service TotalOutsource Administrative Management
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3(38)3(21) Fiduciary Services
Accredited Investment Fiduciary Management, Monitoring and Reporting
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404(c) Fiduciary Services
Employee Communication & Education
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402a Fiduciary Governance
Plan Governance, Employer Training & Certification, Automation & Documentation
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Case Study 1 | The Impact of a 1% Difference of Fees On A Retirement Fund
22.5% More in Retirement
or a $611,122.00 Unnecessary Sacrifice of Retirement Lifestyle
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Reducing fees by just 1% results in a Retirement Fund of $3,325,312 (22.5% more) as opposed to $2,714,190; or $611,122.00 less if left unaddressed.
Assumptions: 40 year old participant, $250k current account value, $958 deposited biweekly (2024 Individual Max) until age 65; Net Expense Return 7.5% (Blue) Net Expense Return 6.5% (Red) Compounded Daily. The example shown is for educational purposes only and is not an offer to buy or sell an investment, nor a report of past performance, nor a guarantee of future performance
Let Us Show You a Better Company Plan on a Lower Cost Capped, FinTech Recordkeeping & Administrative Platform With a Proven Record of Success...
1 Million+
Happy Savers
350,000
Businesses & Organizations
30+ Billion
In Assets in All 50 States
…a plan that employers & employees love.
Plan Features
significantly lower and Cost Capped recordkeeper and admin fees
nonproprietary-top-tier investments carefully selected and monitored from over 30,000 options from Broadridge’s Matrix Trust
a completely outsourced administrative service to free up your team
the industries most protective fiduciary liability solution for plan fiduciaries, owners & executives
a modern, cloud based recordkeeper empowered with a streamlined intuitive participant technology platform
a robust participant and employer (fiduciary) educational program
independent service providers, (instead of insurance or mutual fund companies who primarily promote their own proprietary investments)
Simplify plan administration with seamless integrations.
Making Payroll Easier.
Benefit from technology built to tackle the primary pain points of the retirement plan process, including payroll; with connectivity to leading providers that allows key elements, like 401(k) contributions, to be processed through direct data feeds, giving everyone a better experience.
Thanks to API connectivity with many of the most valued providers, we automate contributions, elections, and other payroll related transactions by feeding data directly between systems. This minimizes work and human error while delivering an overall more seamless experience – for 401(k)s and beyond.
There are full or partial integrations with many payroll providers and there are more added frequently. Some payroll integrations are not able to support certain plan features, integrations may not be possible with all plan types, and there may be specific formatting, content, and other requirements that plan sponsors must complete. Your Onboarding Team works with your company to navigate the payroll file set up and submission process.
It’s Not Just About Fees.
It’s Also About Our Accredited Investment Fiduciary Monitoring and Scoring Program (FI360 Score) That Results in Better Performing Investments, Less Risk and More Stability.
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As Accredited Investment Fiduciaries,(6) we provide objective investment education and ongoing investment analytics from over 30,000 investment options, constantly grading each option on a fiduciary scale that includes performance as well as fee comparisons, manager tenures, style drift, and many other peer rankings. This process assures that you always receive top percentile investment options, and that your plan is never subjected to proprietary investments that favor the insurance and fund companies that promote them.
Fi360 Fiduciary Score Criteria
Regulatory oversight: Unregistered investments are excluded by Fi360’s calculations.
Minimum track record: Investments have at least three years of history to be scored.
Stability of the organization: The same portfolio management team has been in place for at least two years.
Assets in the investment: The investment should have at least $75 million under management (across all share classes.)
Composition consistent with asset class: At least 80% of the investment’s underlying securities should be consistent with the broad asset class.
Style consistency: The product must be highly correlated to the asset class of the investment option.
Expense ratios/fees relative to peers: The product’s fees should not be in the bottom quartile of their peer group.
Risk-adjusted performance relative to peers: The product’s risk-adjusted performance (calculated using Sharpe ratio and alpha) should be above the peer group median manager’s risk-adjusted performance.
Performance relative to peers: The product’s performance should be above the peer group’s median manager return for 1-, 3-, and 5-year cumulative periods.
But Don’t Take Our Word for It, Take Someone Else’s.
The Center for Financial Planning & Investment studied the Fi360 Fiduciary Score® and found that funds scoring in the top quartile (green) provide, on average, higher future investment returns, reduced risk and more consistency than those scoring worse.
Helping Your Employees Achieve Their Retirement Goals.
Personalized Participant Planning
Pointing employees in the right direction: forward
Breathe easy knowing RetireWell will provide the clarity, flexibility, and support your employees need to confidently build financial plans.
- Interactive Retirement Planning
- Tax-Efficient Distribution Strategies
- Social Security Optimization
- Cash Flow Analysis Map
- Budgeting
- Student Loan Management
- Insurance Needs Evaluation
- Demystified Estate Planning
- Account Aggregation
- Streamlined Interactive Zoom Onboarding
- RetireWell Mobile App
RetireWell Online University
Generating more educated investors and employees.
Users of this powerful financial education solution consistently demonstrate significant improvement in their financial knowledge, aptitudes, and behaviors, leading to more confident and engaged learners.
Our Financial Fitness Score is the only research and academic-based assessment in the financial wellness market. It provides organizations the ability to benchmark participants’ aptitude, behavior, and confidence, regarding personal finances. Users take the initial Financial Fitness Checkup to generate a SCORE similar to that of a credit score, but with more robust data.
Tuition SaveUp & PayDown Programs
Empowering employees to SaveUp Tuition and PayDown loan debt faster so they can focus on their next financial goal.
You work hard to design employee benefits packages that meet candidates and employees where they are in their careers—from new to the workforce, to mid-career, to looking toward retirement. Our financial wellness benefits are designed to help you empower your employees to achieve their financial wellness goals.
Whether you want solutions to help employees pay down or refinance student loan debt, start saving for their children’s educations, or become advocates for their financial wellness, we have benefits that will meet your company’s and your employees’ needs.
Did You Know…?
More Than 73% of Plan Sponsors Were Unaware of How Much They Were Actually Paying in Fees and Expenses. Some Even Thought There Were No Expenses…
Meanwhile, by way of example, the range of fees for a plan with $1 million in assets and 100 participants ($10,000 average account balance) is 0.69% to 2.67%. (23rd edition of the 401k Averages Book)
How Much Are You Really Paying in Fees and Expenses?
Case Study 2 | The Impact of a 1% Difference of Fees On A Retirement Fund
31.358693% More in Retirement
or a $565,949.97 Unnecessary Sacrifice of Retirement Lifestyle
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Reducing fees by just 1% results in a Retirement Fund of $2,370,712.57 (31.35% more) as opposed to $1,804,762.60 or $565,949.97 less if left unaddressed.
One of our case studies illustrates a 25-year-old who has $25,000 in a 401(k), plans to retire at 65, earns a 7.5% pre-expense average annual return, and invests $10,000 into their 401(k) every year. This study shows that paying 1.5% in fees results in $1,804,762.60 at age 65 – yet paying only .5% in fees (saving 1% a year in fees) results in $2,370,712.57 at age 65. Paying the extra 1% in fees, therefore, costs the employee in retirement $565,949.97 in unnecessary sacrificed returns.
Case Study 3 | The Department of Labor’s 1% Difference of Fees On A Retirement Fund
It’s Actually Worse* | 39.25% More in Retirement (Not 28%)
or a $64,000 Unnecessary Sacrifice of Retirement Lifestyle
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“Assume that you are an employee with 35 years until retirement and a current 401(k) account balance of $25,000. If returns on investments in your account over the next 35 years average 7 percent and fees and expenses reduce your average returns by 0.5 percent, your account balance will grow to $227,000 at retirement, even if there are no further contributions to your account. If fees and expenses are 1.5 percent, however, your account balance will grow to only $163,000. The 1 percent difference in fees and expenses would reduce your account balance at retirement by 28 percent.” *
Department of Labor, “A Look At 401(k) Plan Fees”
Department of Labor, “A Look At 401(k) Plan Fees
Department of Labor, “A Look At 401(k) Plan Fees
* It’s Actually Worse. In the DOL publication the authors are correct that the minus $64,000 difference from $227,000 is 28% but to make up the difference between the $163,000 higher fee account and the lower fee account would require a 39.25% increase return on the account over the smaller account. ($163,000 * 39.263804% = $64,000 – which when added to $163,000 gives you the lower fee fund value.
Don’t want to move your current plan but would like to improve it? We can provide our investment oversight, fiduciary training and certification, employee education program and our outsourced fiduciary services in concert with every other retirement plan provider.
(1) Admin Free FiduciaryMaxx Retirement PlatformTM is a Trademark of RetireWell, LLC.
(2) Using our FiduciaryMaxx Program, we undertake the administrative 3(16) and investment 3(338) fiduciary management and liabilities of your plan, and provide education, certification and documentation to plan fiduciaries to assure their 402(a) fiduciary duties, (which cannot be outsourced but must be retained by the plan sponsor), are met and documented; thus providing owners, executives, board members and other plan fiduciaries with the highest level of fiduciary protection provided under DOL regulations.
(3) SelectiveExecutiveTM Golden Handcuff Reward Plans is a Trademark of RetireWell, LLC.
(4) “We help participants achieve their goals.
(5) Have Your Plan Managed on an Independent (non-proprietary), Modern Fintech Recordkeeping & Administrative Platform With a Proven Record of Success. RetireWell’s premier recordkeeping and administrative partner is Vestwell, a modern fintech engine based in New York, New York.
(6) Accredited Investment Fiduciaries (AIF), The Accredited Investment Fiduciary® (AIF®) professional designation is the industry’s first and only designation that demonstrates knowledge and competency in the area of fiduciary responsibility and communicates a commitment to standards of investment fiduciary excellence. Holders of the AIF® mark have successfully completed a specialized program on investment fiduciary standards and subsequently passed a comprehensive examination. AIF designees have a reputation in the industry as being the best positioned to implement a prudent process into their own investment practices, as well as being able to assist others in implementing proper policies and procedures. The purpose of the Accredited Investment Fiduciary (AIF) Designation is to assure that those responsible for managing or advising on investor assets have a fundamental understanding of the principles of fiduciary duty, the standards of conduct for acting as a fiduciary, and a process for carrying out fiduciary responsibility.
The Accredited Investment Fiduciary (AIF) is a designation for professionals who are well-versed in fiduciary responsibility and meet the Global Fiduciary Standard of Excellence. AIF holders are highly competent in fiduciary responsibility and know how to communicate a commitment of fiduciary excellence. The AIF designation involves a rigorous training program with a closed-book final exam under a proctor’s supervision. It also requires a long-term commitment to the Code of Ethics and Conduct Standards. Designees receive the knowledge and skills they need to evaluate the fiduciary practices of investment vehicles such as 401(k) plans and defined benefit plans. They also support those who manage endowment and foundation assets. AIF holders must renew their certification every year. To do so, they are required to accrue six hours of continuing professional education, with at least four hours from Fi360 sources. In addition, they must maintain their current contact information in Fi360’s database, attest to a code of ethics, and remit annual dues.
An Accredited Investment Fiduciary (AIF) is legally obligated to always act in the best interests of their clients. They offer recommendations based on each client’s unique goals rather than prioritizing commissions, kickbacks and referral fees that solely benefit them.
(7) According to the DOL, Might Otherwise Wipeout Up to 28% of Your Retirement Account Value – “A Look at 401(k) Fees”, U.S. Department of Labor, Employee Benefits Security Administration (EBSA).
(8) With Additional Tax-Free Retirement Income Plans for Owners and/or SelectiveExecutiveTM Under current federal tax rules, investors generally may take federal income-tax-free withdrawals up to their basis (total premiums paid) in the supplemental retirement income life policy or loans from a life insurance policy that is not a Modified Endowment Contract (MEC). Certain exceptions may apply for partial withdrawals during the policy’s first 15 years. If the policy is an MEC, all distributions (withdrawals or loans) are taxed as ordinary income to the extent of gain in the policy, and may also be subject to an additional 10% premature distribution penalty prior to age 59½, unless certain exceptions are applicable. Loans and partial withdrawals will decrease the death benefits and cash value of the life insurance policy and may be subject to policy limitations and income tax. In addition, loans and partial withdrawals may cause certain policy benefits and riders to become unavailable and may increase the chance the policy may lapse. If the policy lapses, is surrendered, or becomes an MEC, the loan balance at the time would generally be viewed as distributed and taxable under the general rules for distribution of policy cash values.
(9) FiduciaryMaxxTM is a Trademark of RetireWell, LLC.
RetireWellPlans.com, RetireWell.org, and MyRetireWellPlan.com are each owned and operated by RetireWell, LLC and its subsidiaries. RetireWell, LLC is a New York based LLC. All investment related content is provided for general information purposes by RetireWell, LLC, and is not intended to be construed as investment advice. Investments involve risk and are not guaranteed. Please be advised that this webpage is not intended as legal or tax advice. Accordingly, any tax information provided in this article is not intended or written to be used, and cannot be used, by any taxpayer for the purpose of avoiding penalties that may be imposed on the taxpayer. The tax information was written to support the promotion or marketing of the transaction(s) or matter(s) addressed, and your clients should seek advice based on their particular circumstances from an independent tax advisor. Neither RetireWell nor its affiliates provide legal or tax advice.
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