Waverly has been providing retirement plan services for more than 30 years and has an entire division devoted to providing customized plan design, implementation and administration. Our team works with over 180 retirement plans managing in excess of $1.1B in assets including our own plan. As a result of our extensive experience in retirement plans, we provide Plan Assessments for 401k plans. As a plan sponsor, you have a fiduciary responsibility to have an Independent Review of your plan periodically. Waverly performs Plan Assessments for our clients and prospects at no charge.
The Assessment consists of a review of your fund options, plan fees, and provider services. While we perform this service at no charge, we look for areas where changes and improvements may benefit your plan and its participants. We also hope there will be an opportunity for us to work with you regarding any recommendations we make to improve your plan. However, if your assessment indicates that all is well, we would only ask that you consider us if your needs should change in the future.
In order to perform our assessment, we need the following information:
• Current list of fund options offered in the plan and the amount in each fund
• Adoption Agreement or Plan Document
• Copy of contract with current investment advisor, recordkeeper, and third party administrator which discloses fees charged
• Total fees paid for plan administration services during the past year
• Participant and plan sponsor fee disclosures
Once we get this information, we will complete our review and schedule a time to get together with you to discuss our findings. I am certain you will find the information we provide both beneficial and informative in monitoring the effectiveness of your plan.
