Retirement Plan Consulting
A Retirement Plan Your Employees Understand, and You Feel Confident Offering
A retirement plan is one of the most visible benefits an employer provides. It affects recruiting, retention, employee confidence and the long-term financial wellbeing of your team.
Whitney & Company works with businesses of all sizes to help design, review and support retirement plans that are practical for the employer and understandable for employees.
Independent Advice | Provider-Agnostic | Employee-Focused Education
Where We Begin
Retirement plans should work for the business and the people in it.
Many employers have a retirement plan in place, but far fewer feel confident that the plan is designed well, monitored consistently and understood by the employees who depend on it.
We work with employers to bring structure to plan decisions, coordination to the providers involved and clarity to the employee experience.
A strong retirement plan supports the business and the people who make it work.
What We Bring Together
Four pillars of a stronger plan
At the Center
Your Company Retirement Plan
01
Plan Design and Setup
A structure aligned with your business and workforce.
02
Fiduciary Oversight
Disciplined investment selection, monitoring and review.
03
Administration Coordination
Appropriate providers working through an organized process.
04
Employee Education
Resources that help participants understand and use the plan.
A more coordinated employer experience and a more understandable employee benefit.
Our Services
Support across the full life of your plan
Select a service to see how we support it, from establishing a new plan to educating the employees who use it.
Retirement Plan Setup
Start with the right structure.
Whether you are establishing a new plan or reconsidering an existing arrangement, we help you evaluate your objectives and coordinate the setup process.
Our team can assist with establishing 401(k) plans, cash balance plans, defined benefit plans and other appropriate retirement-plan structures.
A stronger plan begins with understanding the business it is built for.
Potential areas of support
- Understanding employer objectives
- Reviewing workforce considerations
- Comparing potential plan structures
- Coordinating with administration and recordkeeping providers
- Evaluating investment and education needs
- Supporting implementation and employee communication
Coordination
Your retirement plan ecosystem
A retirement plan involves more moving parts than most employers expect. We help connect them.
At the center
Employer and Plan Participants
- Recordkeeper
- Third-Party Administrator
- Payroll Provider
- Investment Platform
- Legal and Tax Professionals
- Employee Education
A coordinated plan experience requires the right people, clearly defined responsibilities and consistent communication.
Types of Plans
Plan types we support
Every organization is different. The appropriate plan type depends on your workforce, objectives and long-term goals.
401(k) Plans
A widely used employer-sponsored structure that can be designed around the needs of the business and its employees.
403(b) Plans
Retirement-plan support for organizations utilizing a 403(b) structure.
457(b) Plans
Consulting and investment support for employers maintaining a 457(b) plan.
Defined Benefit Plans
A structure that establishes a defined future benefit under the plan's terms.
Cash Balance Plans
An option that may be considered alongside other employer-sponsored benefits and retirement strategies.
Profit-Sharing Plans
A structure through which eligible employer contributions may be allocated according to the plan's provisions.
Plan descriptions above are high-level. Specific eligibility, contribution, tax and distribution rules should be reviewed with the applicable administrator, legal counsel or tax professional.
Our Process
An ongoing plan relationship
Retirement plan consulting is not a single project. It is a continuing relationship that adapts as your organization changes.
Stage 1 of 7
Engage
Understand your organization.
We begin by learning about your business, workforce, current benefits, concerns and long-term objectives.
1. Engage
Understand your organization.
We begin by learning about your business, workforce, current benefits, concerns and long-term objectives.
2. Discover
Review the current picture.
For an existing plan, we gather relevant information about its structure, providers, investments, participation, services and costs. For a new plan, we identify the business and workforce considerations that should guide the design process.
3. Design
Develop the right framework.
We evaluate potential plan structures, service arrangements, investment approaches and employee-education needs.
4. Recommend
Present a clear path forward.
We organize our findings and explain recommended next steps, including potential changes to plan design, investments, providers, oversight or education.
5. Implement
Coordinate the details.
Once the direction is approved, we work with the appropriate providers and internal stakeholders to support implementation or transition.
6. Review
Monitor the plan over time.
We conduct recurring reviews of the plan, investment lineup, service arrangement and evolving employer and participant needs.
7. Re-Engage
Adapt as your business changes.
Your workforce, objectives and benefit needs will evolve. We return to the process as needed to help the plan evolve with them.
Employee Experience
Education that helps employees use the benefit
Employees participate with more confidence when they understand what the plan is, how it works and where to get help.
- 1
Introduce
Explain the purpose and basic structure of the plan.
- 2
Enroll
Help employees understand how to begin participating.
- 3
Educate
Provide clear information about contributions, investments and retirement planning.
- 4
Support
Offer digital resources, group sessions and access to planning professionals.
- 5
Revisit
Continue education as employees and the plan evolve.
Plan Review
What a retirement plan review looks like
A plan review is a structured way to evaluate whether your current arrangement still fits your organization.
Plan Review
Six areas we examine
- 01
Plan Design
Does the structure still support the organization's goals?
- 02
Investment Lineup
Are investment options being selected and monitored through a disciplined process?
- 03
Provider Services
Are the recordkeeper, administrator and other providers delivering the services expected?
- 04
Fees and Expenses
Are plan-related costs clearly understood?
- 05
Employee Engagement
Do employees understand the plan and participate confidently?
- 06
Plan Governance
Are responsibilities, review processes and documentation clearly organized?
Self Assessment
Questions worth asking about your plan
Tick the ones you can answer with confidence today.
If any of these are difficult to answer, a plan review may be a helpful next step.
Who We Help
Employers at every stage
Businesses Establishing a First Plan
Create a coordinated foundation for plan setup, providers, investments and employee communication.
Employers Reviewing an Existing Plan
Evaluate whether the current structure, investments and service arrangement continue to meet the organization's needs.
Growing Organizations
Revisit a plan as the workforce, leadership team or company objectives evolve.
Employers Seeking Better Employee Engagement
Strengthen education and help employees make more informed use of the benefit.
Plan Sponsors Seeking Greater Oversight
Establish a clearer process for investment monitoring, plan review and provider coordination.
Why Whitney & Company
One relationship connecting the plan, the providers and your people
Provider-Agnostic Perspective
The plan is not built around a required recordkeeper or platform.
Investment and Planning Resources
Employers and employees gain access to investment oversight and financial-planning expertise.
Employee-Focused Education
Education can be delivered through automated resources, in-person meetings and planning professionals.
Ongoing Relationship
The process continues through implementation, review and renewed engagement as needs change.
Coordinated Support
We help connect the employer, providers, investments and employee experience through one consulting relationship.
Questions
Retirement plan consulting FAQs
Start the Conversation
Let's talk about your retirement plan
Whether you are establishing a new plan or reviewing an existing one, a conversation is the best place to begin.
We will discuss your organization, your workforce and the plan you have today, then outline what a review or setup process would look like.
Prefer to explore our other services first? Visit Investment Management or Wealth Planning.
Whitney & Company is an independent Registered Investment Advisor. Retirement-plan consulting and fiduciary services vary based on the applicable engagement and written agreements. Recordkeeping, plan administration, tax filings and certain other services may be provided by unaffiliated third parties. Information presented is general in nature and should not be interpreted as legal, tax or individualized investment advice. Employers should consult their legal, tax and plan-administration professionals regarding their specific circumstances. Plan descriptions are high-level; specific eligibility, contribution, tax and distribution rules should be reviewed by the applicable administrator, legal counsel or tax professional.