We take care of the heavy lifting by handling the ins and outs of getting the plan set up and running. With our powerfully simple platform and dedicated support team to help, tools and assistance are available every step of the way.
Our team of retirement plan experts include:
- Plan design specialist: Helps develop a customized plan to serve employer objectives and employee needs -- or coordinates with the employer's third-party administrator.
- Onboarding specialist: Serves as your dedicated point of contact throughout the setup and transition for a seamless process.
- Retirement plan consultants: Provide in-person enrollment support, extensive education and plan promotion to help get employees engaged.
- ERISA attorney: Helps navigate the complex regulatory environment with deep subject-matter expertise in ERISA-related issues and concerns.
We offer employers the choice of two respected, independent registered investment advisory firms that can manage some or all fiduciary responsibilities for your plan through Wilshire Associates or SWBC Retirement Plan Services. More information about the advisory firms is available from a retirement plan account specialist.
Depending on how much responsibility you want, employers can choose the following fiduciary services: 3(21) or 3(38) investment fiduciary services.
3(21) Investment fiduciary services
The plan sponsor may elect to receive investment advisory services by directly contracting with an independent investment advisory firm. This service assists in creating, documenting and maintaining the list of investment options in the plan’s retirement plan portfolio. The independent investment advisory firm takes responsibility for recommending and selecting appropriate investment options for each asset category.
It is the plan sponsor’s or its designated fiduciary’s responsibility to select the investment line-up under the plan. If the plan sponsor follows the guideline recommendations that meet the diversification requirements of ERISA, the independent investment advisory firm agrees to act as investment fiduciary as defined in Section 3(21)(a)(ii) of ERISA. The fee for these services is described and disclosed in the plan sponsor agreement with the independent investment advisory firm.
3(38) Investment fiduciary services
For an additional fee, the independent investment advisory firm will accept discretionary authority to select and deselect the plan’s investment line-up from the investment options. In providing this service, the independent investment advisory firm will act as an investment manager to the plan as defined by Section 3(38) of ERISA, with responsibility for selecting and monitoring the investment options included in the plan’s line-up, The fee for these services is described and disclosed in the plan sponsor agreement with the independent investment advisory firm.
For some employees, the best plan choices will give them the opportunity for growth while they're building their savings, and predictable income when they're ready to retire. Retirement Gateway® offers two options:
- Personal Income Benefitsm: a “pension-like” plan benefit designed to help address employees' concerns about inflation, market fluctuation and the possibility of outliving their savings. It gives employees the ability to invest in an account during their working years that provides a guaranteed income stream in retirement that they can last a lifetime.
- Guaranteed Interest Option: guarantees a fixed rate of interest each year, backed by the claims-paying ability of Equitable.
The Personal Income Benefitsm is available for an additional fee and is not appropriate for everyone. Early or excess withdrawals are not recommended as they can significantly reduce or eliminate the benefit's value. Personal Income Benefitsm is not appropriate if you do not intend to take withdrawals prior to annuitization.
It should be noted that prior to allocating amounts to and activating the Personal Income Benefitsm (PIB) feature, participants should consider the cost and benefits before doing so. Participants should not activate this benefit if they intend to take withdrawals from the PIB account value in excess of the guaranteed annual withdrawal amount because those withdrawals may significantly reduce or eliminate the value of the benefit.
As employees’ goals change over time, their retirement plan should evolve as well. With Retirement Gateway®, we provide advice designed for employees so they can better prepare for retirement. As part of the program, we provide access to educational resources and a variety of online tools that will help your employees plan, save and invest for retirement.
Employee education
People learn in different ways, so we offer a variety of tools and resources employees can use to learn in a way that works best for them.
- Our retirement plan consultants are available to meet employees in person or provide them with educational brochures and flyers they can review on their own.
- Our online education platform helps employees:
- Discover the benefits of saving early and often.
- Navigate the enrollment process.
- Choose the right investments based on their risk tolerance.
- Discover their optimal savings rate.
Employee website
Our intuitive employee website was built around employees' needs, to help them better set up and track progress toward their goals, check investment performance and research alternatives, and update their investment choices when needed.
On the site, they can easily:
- View balance and contribution information.
- Review and change investment allocations.
- Set up and track their retirement goals.
- Check performance and research investments.
