Retirement Plan Services for Businesses

Lead Your Plan
To a Better Path

Retirement planning for multiple stakeholders is difficult to navigate on your own. Let’s face the unknowns and new milestones together, so your plan is on the best path for everyone. Scroll through for our thoughts on the big questions to come.

Retirement Plan Services for Businesses

Lead Your Plan
To a Better Path

Retirement planning for multiple stakeholders is difficult to navigate on your own. Let’s face the unknowns and new milestones together, so your plan is on the best path for everyone. Scroll through for our thoughts on the big questions to come.

ARE my employees and I on the right path to a successful retirement?

Retirement means something different to everyone. And as the plan leader, it’s difficult to find a route that works in every stakeholder’s best interest. Part of that responsibility, too, is making sure you aren’t satisfied with the status quo. There are plenty of options that seem good enough, but how do their performance and fees really compare?

With our long-term approach and rising dividend strategy, we seek to produce steady, generous results for our clients, no matter the financial climate. While there’s no one right path, we believe we are the partner that can help get you where you want to be.

AM I fulfilling all my fiduciary duties for my company’s retirement plan?

As the plan sponsor, there are obligations beyond your personal responsibility to your employees and their future well-being. Legally, you are liable to act as the fiduciary for your company’s plan. Part of this means offering the best possible benefits package at the most reasonable cost to your employees.

The first step to fulfilling these duties is to ensure you have a governing document for the plan, known as the Investment Policy Statement or “IPS.” The Department of Labor looks to see that plan sponsors develop, implement and monitor a prudent process in which funds are screened, fees are benchmarked, and the plan is being used to best benefit the participants. It’s not a simple task, but, as your partner, it’s something we can take on together.

WHAT is my legal responsibility to my employees as mandated by the Department of Labor?

Each year, Americans are less and less prepared for retirement. And the Department of Labor is stepping in to oversee what may be a very big issue for a number of people. Because of this, as a plan sponsor, you are now faced with greater legal obligations to your employees.

For example, plan sponsors must manage plans for the exclusive benefit of participants and beneficiaries. And diversify the plan’s investment while refraining from conflicts of interest expressly prohibited by law. For a deeper dive on fiduciary responsibilities, please see the official Department of Labor site.

HOW can Donaldson help alleviate the burden of my fiduciary responsibility?

While your duties may be expanding, you don’t have to face the pressure alone. We serve our clients at the highest level of fiduciary, known as a 3(38) discretionary asset manager. This means we are able to offload a plan’s investment fiduciary obligation, alleviating the sponsor’s investment liability to the plan. Working together, we help plan sponsors get back to focusing on what they do best: running their business and taking care of their employees.

IS my company’s retirement plan effective enough to retain and recruit new employees?

Americans are more dependent on their company’s retirement plan than ever before. So, a plan with a wealth management approach will stand out to employees and recruits. Our proprietary investment strategy emphasizes security, income and growth, and is offered in our plans to all participants. Our steady and generous results keep employees engaged and recruits interested in the direction of their retirement.

HOW can I further involve my employees in their retirement planning and education?

We believe it’s important for employees to be educated about their plan and what it means for their future retirement. Every plan member will have access to DCM University, a library of assets and tools on all things financial planning. Plus, we are on hand to onboard the entire group, so that everyone is satisfied with their plan from the beginning.

WHAT level of service and investment management should I expect to receive?

At Donaldson, we are with you through every step of your retirement planning journey. It’s important to us to really get to know you and your business from the start, so we can guide your plan with in-depth knowledge of where you’ve been and where you’re heading. Our financial professionals work together as your team, through every milestone and smaller waypoint, so you feel confident and at ease in every decision we make.

WHAT are the first steps to making a change to my company’s retirement plan?

Before you switch your retirement plan to us, we want to talk through your expectations and your objectives. It’s helpful to get deep into the details up front so that down the road every stakeholder knows what to expect. Our onboarding process is thorough, but once we both feel confident in our understanding of each other’s goals, we will get to work for your plan. Don’t think this will be our last touchpoint, though. We like to work closely with our plan sponsors to make sure everyone is on the path to where they want to be.