A mid-sized doctors’ group solved a host of compliance issues with the help of a SWAT team including the plan’s ERISA attorney, a Retirement Plan Third Party Administrator (TPA), and Advisory Firm Strategic Retirement Partners. The plan leverage the Voluntary Correction Program of the IRS, and successfully emerged from a U.S. Department of Labor audit. Plan assets have grown 88% in 2.5 years, investment arrays have been overhauled and simplified, target date fund utilization increased, and the plan now follows a formal oversight process.

Quantitative research has shown partnering with a professional retirement plan advisor helps retirement plan sponsors achieve better results in several ways: Better plan design and plan arrays, increased confidence in plan compliance and investment options, superior understanding of fiduciary issues, better overall asset allocation among plan participants, improved participant retirement outcomes.

The Midwestern hospital group featured in this case study realized these benefits by:
• Streamlining and consolidating plan providers
• Establishing a governance protocol
• Becoming ERISA-compliant
• Implementing a Qualified Default Investment Alternative (QDIA), and
• Increasing plan participation from 35% to 88% of all eligible employees

This healthcare organization is now able to leverage a retirement benefits package employees appreciate to compete for medical field talent in the labor market

A respected dental college in the Northeast with a generous 9% employer contribution more than doubles average employee contribution rate with plan analytics, support, vendor selection, educational campaign themes, and quarterly on-side education visits.

Moderator: C. Andrew Harbour CFP^® CIMA^® | Morgan Stanley Graystone Consulting Atlanta

TXEX / VIA Renewables
Houston, TX
Tiffany Miller | Director of Human Resources
A client of Council members Fidelity Investments and The Gibson Group of Morgan Stanley (Lisa Gibson CRPS®)

The Queen’s Health System
Honolulu, HI
YeeYeng Lim | Benefit Manager  
A client of Council members Fidelity Investments and HUB International (Jim O’Shaughnessy AIF®, PRP®)

Northwell Health
Great Neck, NY
Diana Witkowski-Grubard | Director of Human Resources
A client of Council members Transamerica, and Morgan Stanley

RLI Corp.
Peoria, IL
Amy Braet PHR, SHRM-CP, CCP, CBP | AVP Compensation and Benefits
A client of Council member Principal Financial Group

Wiley|Wilson
Lynchburg, VA
Connie Burnette PHR, SHRM‐CP  | VP Department Manager, HR
A client of Council members John Hancock and AFS Retirement Services (Alexander G. Assaley, III, AIF®)