Why McKinley Carter
Our Co-Fiduciary Status – Management of a retirement plan in today's marketplace requires a trustworthy advocate. As a registered investment advisor, we represent the best interests of our clients and their participants and we accept and acknowledge our role as a co-fiduciary to the plan. In short, you have a true partner and advocate in the effective management of your plan.
The Open Architecture Advantage – With modern technology, it is now possible to obtain access to the full universe of investment options with few limitations. "Open architecture" refers to unlimited access to investment fund managers at the plan level, and offers unprecedented flexibility and opportunity for plan fiduciaries to construct a customized investment menu and to better control total plan costs.
The Investment Policy Statement – The first step in the investment process is to set criteria for the prudent selection and retention of plan investments. Your McKinley Carter retirement plan services specialist drafts an investment policy statement to document these criteria. However, merely drafting an IPS will not suffice. The investment policy statement must be a living, dynamic document that sets the framework for ongoing monitoring of your plan's investments.
Advanced Fiduciary Monitoring – Every quarter, we compare your plan's investments to the investment policy statement criteria. Investments not meeting the minimum retention criteria at quarter's end go on a "watch list." Should an investment choice ultimately fall out of the acceptable range as defined in the IPS, the investment is often replaced. It is important to note that our criteria are based on a balanced, long-term evaluation of each individual investment relative to its peers, not on short-term investment results.
Advanced Plan Design and Consulting – In conjunction with our plan administration partners, McKinley Carter provides retirement plan design and consulting on a wide range of compensation and benefits issues related to retirement planning. In addition to all standard plan designs, we also support:
- New comparability profit sharing plans
- Safe harbor 401(k) plans
- Cash balance plans
- Defined benefit plans
- Defined benefit/defined contribution plans
Making It Easy for Plan Participants – Through the use of model portfolios, lifestyle investment options, and target date funds, we make it easy for participants to benefit from your plan. Unlike many of our competitors, our participant services strategy does not end after the initial enrollment is completed. Everything we do is designed to help your employees maximize the value of participating in your retirement plan.
Targeting Low Total Expenses – "Revenue sharing" payments from mutual funds to retirement plan providers are an accepted practice in the industry, but often disguise the true cost of your plan and encourage providers to select investment options based on the size of these payments rather than the quality of the investment. We level the playing field for our clients by focusing heavily on the single largest expense in most plans: money management. Open architecture gives us the flexibility to find high-quality money management at the lowest cost to you and your participants.
Is your current plan receiving this level of care?
Contact us for a comprehensive review of your current situation.