Engagement Philosophy

NWMG believes in building meaningful partnership with our plan sponsor clients. Listening to their needs, engaging thorough discussions on past successes, and challenges in running their retirement plan(s). Earning their trust daily by bringing insightful recommendations to every conversation we have with them. It is our belief the retirement plan(s) offering needs to be strategically integrated into the employer’s overall employee benefit strategy. Following this methodology strives to ensure impactful participant financial wellness outcomes. ERISA is a law based on process. We will introduce and provide guidance on the required process aligned to the current regulatory environment, for your plan’s success as your trusted advisor.

 

Defined Contribution Services

  • Onsite committee meetings: procedural guidance, draft for signature the plan’s committee charter, coordinate the meetings 
  • Hired as a 3(21) or 3(38) investment fiduciary
  • Investment recommendations aligned to the plan’s design, participant demographics and industry behavioral science 
  • Management guidance on all service providers to the retirement plan
  • Prepare for signature an Investment Policy Statement (IPS), semi-annual review 
  • Prepare for signature an Educational Policy statement (EPS), semi-annual review
  • Participate in onsite participant educational meetings, semi-annually
  • Assist in maximizing plan design effectiveness through behavioral science recommendations, Plan Governance Index (PGI) report feedback, working with assigned ERISA counsel  
  • Deliver a Plan Governance Index report. Assessing the plan’s process of investing, plan administration and participant outcomes, annual review
  • Participate in the organization’s overall employee benefit strategy conversations, strive to ensure full integration of the retirement plan offering and its benefits
  • Service providers RFP review (record-keeper, money managers, custodians, third party administrators): fee benchmarking, technology initiatives, record-keeping delivery support, payroll integration assistance, plan sponsor services and plan participant financial wellness programs. RFP review frequency every three to five years.

Defined Benefit Services

  • De-risking strategies on your investment portfolio
  • Actuarial evaluation, services delivered and cost
  • Glidepath to full DOL plan termination for frozen plans 
  • Annuity placement services
  • Term-vested plan participants lumpsum window strategies 
  • Service providers RFP review (actuarial, record-keeper, money managers, custodians, third party administrators): fee benchmarking, technology initiatives, record-keeping delivery support, plan sponsor services and plan participant portals. RFP review frequency every three to five years.

Investment Advisory Services

  • Review of the plan’s Investment Policy Statement
  • Alignment of the plan’s design and participant demographics to the appropriate investment menu, number of funds, target date or risk-based funds
  • Work with the plan’s record-keeper implementing the revised investment offering
  • Semi-annual plan level investment review, realignment if needed
  • Hired as a 3(21) or 3(38) investment fiduciary
  • Introduce qualified participant managed account product offerings

Project Services

  • Plan compliance review
  • Service provider(s) review
  • Participant financial wellness review
  • Plan design study analysis
  • Investment search
  • Record-keeper search support
  • Fee benchmarking