Employer Frequently Asked Questions

General Information
Provide the history of your employee benefits division. Benefit Solutions has been in existence since 1999; however, the combined experience of all employees is over 30 years.
Describe your organization’s experience and expertise in managing retirement plan programs for other clients. We have a solid success record of assisting our clients by searching the marketplace for the appropriate provider, providing a needs analysis study, reviewing demographics of the employees, and then recommending the right retirement plan program. We assist the employer with plan reviews, testing reviews, support for compliance testing, IRS audit preparation, enrollment meetings, etc.
Describe your organization’s experience and expertise in implementing retirement plan programs. After thorough research, we ensure smooth plan transition through preparation and communication. We conduct document reviews and enrollment meetings prior to asset transfer. New remittances are assisted until they are correct and seamless, and only then are transfer assets requested. The client (or payroll provider) is given the how, the when and the where for fund transfer. New plan documents and materials for fiduciary compliance and reference are provided to the client in our Fiduciary Audit Binder.
Describe what makes your firm different from other firms that may submit proposals for consideration and provide evidence of your leadership and innovation in insurance and investment practices. Benefit Solutions is a specialist in employer sponsored pension plans. We take care of the entire plan from start to forever. Employer sponsored retirement plans require ongoing service with plan and document reviews, law change updates, testing reviews and enrollment meetings, forever. We do it all. We are your independent financial advisor and consultant, offering less cost and more benefit for you by recommending the right investment program as well as the appropriate TPA.
Documents and Compliance Services
Please provide and describe the document and compliance services you would typically provide for your clients.
We customarily provide legislative compliance reviews, reporting set up, ongoing maintenance and periodic reviews, rollover and distribution support, document restatement assistance, plan design review and recommend changes, and testing and 5500 support. We review the employer’s testing and suggest ways to modify plan design to help the employer pass testing and increase participation.
Investment Selection and Review Services
Do you assist employees with making the proper investment decisions for their long term retirement goals? If so, how? Phone? In person?
Yes, all of the above. We provide personalized sheets, fund information and historical investment returns for all of the employees.
Do you proactively contact the investment company on our plan to have our fees reduced as the assets grow? Absolutely. Every quarter we review the plan assets and when there is good plan growth, ask the carrier to reduce the employer fees or to assist in paying administrative costs.
Please describe the fee structure on most of your client’s plans. Fee structure varies on the size of the plan by number of employees and amount of assets. Some employers have full serviced, bundled plans and others have unbundled products. Unbundled products typically cost the employer less. We look at each client independently to determine what is best for their company. Plans will typically have an asset charge and may have a per-participant charge, internal administrative fees or an outside TPA. 
Ongoing Employee and Employer Services
Do you provide employee communication services for your clients’ employees? If so, please provide a general description of your capabilities.
First of all, we personalize enrollment materials, which helps encourage higher participation levels by showing people that every little bit helps. We are highly customer service oriented, and welcome employees’ questions at any point in their investment in the plan.
Do you help facilitate enrollments meetings? If so please provide a general description of your capabilities. We conduct ongoing enrollment meetings and individual employee investment reviews. We prepare personalized sheets for every enrollment and review meeting including current participants.
Please explain how your meetings are conducted. PowerPoint, slides, visual aids, handouts, etc.? We use all of the above for our enrollment meetings. We are also prepared with an overhead projector and slides.
Do you provide any type of ongoing education programs or individual investment reviews for our employees? Yes. During scheduled enrollment dates we will also conduct individual employee review meetings. We review their account and rebalance, transfer or change futures allocations at that time. We also provide the same service by phone as well. So employees never have to wait when they need investment advice.

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Check the background of this financial professional on FINRA's BrokerCheck