Group Retirement Plans for Your Company or Organization
The right employee benefits package can help attract and maintain the best and brightest employees. RetireWell helps you select and custom design the best plan for your people, and provides a modern platform to make it easier for you to offer these benefits. With a structured, aggregated approach, RetireWell provides unparalleled technology and retirement industry expertise to businesses and organizations of every size.
TRADITIONAL (NON-SAFE HARBOR) 401(K)s
Traditional (Non-Safe harbor) 401(k)s do not require a company to make mandatory employer contributions. However, Non-Safe Harbor plans will require annual compliance testing ensure they are not top-heavy (meaning that compensating some employees more than others).
SAFE HARBOR 401(K)s
Nearly 70% of small business employers take advantage of the unique benefits of safe harbor 401(k) plans. Many employers choose safe harbor plans because they offer a range of administrative, savings, and tax-related benefits. RetireWell’s simple, streamlined safe harbor 401(k) solutions are designed for employers who want to set it and forget it.
403(b) Plans
A 403(b) plan, sometimes referred to as a “tax-sheltered annuity”, is a qualified retirement plan available to public schools, tax exempt organizations, and certain religious organizations. RetireWell’s modern technology, intuitive design and 3(16) plan administration services take the headache out of setting up and administering a 403(b) plan.
DEFINED BENEFIT PLANS
A defined benefit pension plan is a type of a pension plan sponsored by an employer that can give the largest possible benefit to the owner with minimal benefits to the employees.
It is an ideal solution for someone who is a business owner or a self-employed individual as it can help save for retirement while lowering taxable income.
POOL EMPLOYER PLANS (PEPs), MULTI-EMPLOYER PLANS (MEPs), and GROUPS OF PLANS (GoPs)
Pooled Employer Plans (PEPs) and Multi-Employer Plans (MEPs) allow unrelated employers that meet certain requirements to join together to participate in a single retirement plan, sponsored by a common provider. RetireWell’s flexible solutions and unparalleled modern technology make it easier for small businesses to offer these benefits.
PROFIT SHARING PLANS
A Profit Sharing 401(k) is another type of defined contribution plan in which the company has discretion to determine when and how much the company pays into the plan. We can help you set up a well-designed profit sharing plan designed to attract and retain top talent — which is especially critical in today’s competitive market.
RetireWell TotalOutsource 3(16) Fiduciary Administrative Program(TM)
a secure modern cloud based platform built from the ground up BY FINTECH EXPERTS
Our entirely cloud-based platform includes extensive controls such as encryption at all stages, constant monitoring, commercial anti-virus tools, and strict internal protocols and training.
100+ PAYROLL INTEGRATIONS
We can integrate with 100+ payroll providers to simplify eligibility and payroll processing while taking more work off your plate.
Thanks to API connectivity, our 360° payroll integrations automate contributions, elections, and other payroll related transactions by feeding data directly between systems. This mitigates work and human error while delivering an overall more seamless experience.
Explore a sample of our payroll integrations…(if you don’t see your payroll vendor, don’t worry – this is only a sample list)
| AAP |
| ABC |
| Accu Data Workforce Solutions |
| Ace Workforce |
| ADP Run |
| ADP Workforce |
| Ahola |
| Amchecks |
| APS Payroll |
| ASAP Payroll |
| AssetHR |
| Asure |
| Automatic Business Computing |
| Balance Point |
| BambooHR |
| Bene-Care |
| Coastal |
| Commonwealth |
| Complete Payroll Solutions |
| Contempo HCM, LLC |
| CorPay |
| Corporate Payroll Services (CorPay) |
| Dominion Payroll |
| Encompass |
| Encompass Employee Management |
| GreenLink HCM |
| GTM Payroll Services |
| Gusto |
| HR Ledger |
| Insperity |
| Integrated Payroll Services |
| iSolved |
| iSolved Direct |
| iSolved HCM |
| Keystone |
| Managed Pay |
| MassPay |
| MercBank |
| Namely |
| NextHR Solutions |
| OnPay |
| Patriot |
| Paychex Flex |
| Paycom |
| Paycor |
| PayDay Payroll |
| Paylocity |
| PayPro |
| Payroll Control Systems (PCS) |
| Payroll Service Solutions |
| Payroll Vault |
| PayServ |
| PayUSA |
| Premier Now |
| QuickBooks Online |
| RABco |
| Red River Payroll Inc. |
| Rippling |
| Run by ADP |
| Solex |
| Thread HCM |
| Toast |
| True Payroll Integration (TPI) |
| Whirks |
| WipFli |
Participant Services and Communication
- Deliver distribution packages
- Determine eligibility
- Eligibility notification and documentation
- Enrollment assistance
- Mail annual notices and disclosures to eligible employees
- Mail blackout notices to participants
- Mail notices and disclosures to newly eligible employees
- Manage involuntary distribution of small balances (force-outs)
- Prepare participant notices and disclosures
- Reconcile participant level contributions with plan trust
- Review and upload vesting to plan providers
- Search for missing terminated participants
PARTICIPANT APPROVALS
- Approve corrective refunds
- Approve Distributions
- Approve hardship withdrawals
- Approve in-service withdrawals
- Approve loans
- Approve Qualified Domestic Relations Order (QDRO)
- Approve Required Minimum Distributions
- Approve Rollover Contributions
- Approve separation of service distributions
- Resolve loan defaults
- Manage missing beneficiary designations (if applicable)
Proactive ERISA Monitoring
A key benefit to hiring a professional 3(16) Admin Fiduciary is the ongoing proactive monitoring of your company plan to prevent any potential ERISA violations that may lead to fines and corrective expenses. Potential errors include (but not limited to);
- Failure to update plan document
- Failure to follow the terms of the plan document
- Incorrect eligibility determination
- Incorrect hardship withdrawal approvals
- Incorrect application of loan provisions
- Failure to make required contributions
- Failure to file Form 5500
- Uncorrected testing failures
- Untimely or failure to send required notices
- Failure to manage involuntary distributions
Regulatory management
- Complete year-end required compliance testing
- Correct ADP/ACP test failures
- Interpret plan document
- Notify plan administrator of any observed plan irregularities
- Assist with ERISA required fidelity bond requirements
- Prepare, sign and file Form 5500
- Review large plan Form 5500 and audit report (if applicable)
- Sign and file Form 8955-SSA (if applicable)
- Update plan document for IRS/DOL laws
RetireWell TotalOutsource 3(38) Fiduciary Investment Program(TM) | Powered by Accredited Investment Fiduciaries (AIFs)
True Open Architecture
Our intuitive, user-friendly platform offers a completely digital experience delivered on the cloud for faster deployment and a more modern experience.
3(38) fIDUCIARY INVESTMENT MANAGEMENT
We can integrate with 100+ payroll providers to simplify eligibility and payroll processing while taking more work off your plate. 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.
RFPs
We’re completely open architecture so you can build the line-up that’s right for you without worrying about revenue sharing or proprietary funds. And for a tailored approach, we offer managed accounts for a more individualized participant experience.
low cost – top-tier investments
Whether acting as your 3(38), 3(21) and/or 3(16), we provide fiduciary oversight to better protect you and your company investments.
GUARANTEED LIFETIME INCOME OPTIONS
Our entirely cloud-based platform includes extensive controls such as encryption at all stages, constant monitoring, commercial anti-virus tools, and strict internal protocols and training.
ADVISOR MANAGED ACCOUNTS
In partnership with Franklin Templeton, our managed account offering puts technology first to deliver personalized advice and an embedded investment management experience.
Leveraging Franklin Templeton’s proprietary methodology, we offer employees a more personalized investment experience based on their individual goals and circumstances.
EXPERIENCE
EXPERIENCE
The managed account experience is built directly into the platform, allowing you to seamlessly engage investors right where they are. A sophisticated algorithm makes recommendations on how much to save and how to invest for a truly personalized portfolio.
- Participants answer 3 guided questions to determine goals.
- A sophisticated algorithm pairs goals with data to create a personalized asset mix that changes over time, seeking to maximize the probability of success.
- Participants can adjust retirement goals and monitor progress to and through retirement.
RetireWell Education and Wellness Plus | An Accountable Interactive Program That Empowers Participants, Fuels Confidence, and Drives Engagement
An Accountable Wellness Program With Deep Dive Analytics & Reporting Designed To Help Your Employees Retire With Confidence
RetireWell’s Education and Wellness Plus Program provides robust analytics and reporting to measure the success of our program has with plan participants. Our platform provides a reporting dashboard to track user progress and financial health at an individual and organizational level. Whether you are looking to educate your employees or engage in deeper, more meaningful relationships, we offer a solution that can reach and impact all of your participants. Key data and metrics show that when a employees have a basic understanding of financial health and fitness, they can better empower customers to navigate their economic challenges. In fact, more than 1,000 organizations have found that the more financial knowledge their employees have, the less time they spend on the job addressing personal financial issues. Measuring and tracking the impact of financial well-being for employees is crucial to the overall strategy for employees of companies and organizations of every size. That’s why our program is designed not only to educate and empower plan participants, but to help measure and document their progress on the road to financial well-being and health; and by utilizing psychology, technology, and game mechanics, we’ve made financial learning easy, effective, and fun.
monthly Webinar and in person educational presentations
These timely presentations help participants navigate today’s investment environment and unpredictable markets. Courses include:
- Morningstar SBBI (Stocks, Bills, Bonds, and Inflation)
- Investing for Retirement
- Investor Behavior
- Investing in a Rising-Interest-Rate Environment
- Real Estate Investing
- Dividend Investing
- ESG Investing Presentation
- Principles of Investing
- Global Investing
- Growth and Value Investing
- Risk & Volatility Presentation
- Portfolio of Diversification and Performance
- Stocks and Bonds
- Downturns & Recoveries Presentations
- Buy Digital License
- Exchange-Trade Funds
- Target-Date Funds
- Taxes and Investment Performance
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.
Explore a sample of RetireWell’s hundreds of multimedia tutorials, audio courses, animated videos and bilingual courses…
- Budgeting
- Emergency Funds
- Bankruptcy
- Home Buying
- Credit Cards
- Financial Action Plans
- Debt Management
- Student Loans
- Preventing Foreclosure
- Getting Married
- Estate Planning
- Flexible Spending Accounts
- Getting Your Taxes Done
- Life Insurance
- Rebuilding Credit
- Taxes
- Identity Theft
- Lifestyle Planning
- Power of Attorney
- Investment Goals
- Retirement Planning
- Understanding Balance Sheets
- Types of Stocks
- Taxes on Different Investments
- Bond Investing
- Small, Mid and Large-Cap Stocks
- Risk Tolerance
- Certificates of Deposit (CDs)
- Convertibility
- Mutual Fund Basics
- Government Bonds
- Index Funds
- Investment Strategy
- Money Market Funds
- Money Market Accounts
- Pension Plans
- Roth IRAs
- Retirement Planning
- Long-Term Care Insurance
- IRA Deductions
- Life-Cycle Funds
- Retirement Risks
- Social Security
- Types of IRA Accounts
- Where to Live in Retirement
- Working in Retirement
- Choosing Life Insurance
- Withdrawing from Your Portfolio
- Tax-Deferred Accounts
- Reverse Mortgages
- Keogh Plans
- Medicare
- Taxes in Retirement
Financial Fitness SCORE
The Financial Fitness SCORE™ is formulated by collecting millions of data points.
These focus on the three key components of financial health, or what we call the “A,B, C’s” of financial well-being:
Aptitude – What we know
Behavior – How we behave
Confidence – How do we fee
Your 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.
Personalized 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
Increasing Engagement with Gamification, over 100 calculators & personal course recommendations
GAMIFICATION
Levels, badges, points, and certificates keep users engaged and motivated to learn. We use quizzes, calculators, certificates, points, and badges to keep participants learning and engaged.
INTERACTIVE CALCULATORS
Over 100 interactive calculators to select from, allowing participants to calculate economic scenarios such as ‘how much should I save for retirement?’
COURSE RECOMMENDATIONS
Participants gain access to RetireWell’s online Financial Fitness Assessment where they can identify their Financial Fitness SCORE™.
Based on that SCORE™, they receive recommendations from hundreds of learning topics, their progress is tracked and they are rewards points and badges upon course completion – making learning easy and fun.
While course recommendations provide a personalized educational road map. The platform’s technology provides users with a personalized learning experience and tracks participant progress to show real behavior change and results.
Tuition SaveUp & PayDown Programs
Empowering employees to manage tuitions 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.
HELPING PARTICIPANTS GET THE LIFE WITH ACADEMIC, RESEARCH-BASED RESULTS
A decades long study with the Center for Financial Security and the University of Wisconsin, launched to identify how workplace financial education affects retirement planning; revealed employees with access to an online financial education program gained the financial knowledge to display positive financial behaviors, including retirement savings. The study showed that self-reported financial knowledge increased between 5% and 25% in the various topics covered by their selected programs. Participants also reported increased participation and budgeting; with the account data illustrating participants increased retirement account contributions by an average of 40%.
FiduciaryMaxx | The Comprehensive Fiduciary Protection Program for Owners, Executives, Board Members and Plan Fiduciaries.
The employer, as fiduciary of the plan, has basic responsibilities for sponsoring a retirement plan. In order to meet these responsibilities, employers need to understand the rules, specifically with regard to the Employee Retirement Income Security Act of 1974 (ERISA). ERISA sets standards of conduct for those who manage an employee benefit plan and its assets.
These responsibilities include but are not limited to:
- Acting solely in the interest of the participants and their beneficiaries, and with the exclusive purpose of providing benefits to them
- Carrying out duties with care, skill, prudence and diligence
- Following the terms of the plan documents — including but not limited to:
- Proper determination of eligibility for enrollment
- Timely deposits of contributions
- Fulfillment of compliance testing requirements
- Paying only reasonable expenses
- Diversifying investments
The Department of Labor (DOL) recognizes that plan fiduciaries will almost certainly need to hire service providers willing to take on some of the fiduciary duties on their behalf. The most commonly known co-fiduciaries are:
- 3(16) — An individual that is the named plan administrator, who agrees to take responsibility for all the daily plan operations or may limit his or her responsibility to only certain functions
- 3(21) — An individual that has discretionary authority or control with respect to management of the plan or disposition of its assets, renders investment advice for a fee or has discretionary authority or responsibility for the administration of the plan
- 3(38) — An individual that agrees to be an investment manager for the plan, who has the power to manage, acquire or dispose of any of its assets