1. Plan Success
At MFPRetirement (MFPR), our team starts by meeting with you to identify your company’s goals and objectives to discover your plan’s success. We help prioritize your goals, including partner savings, employee benefits, legal compliance, and firm tax efficiency.
2. Plan Design
At MFPRetirement (MFPR), our team helps determine the ideal retirement plan design and investment platform options. Our team consults with your third-party administrator to help ensure that the plan design and platform solutions work together seamlessly. We gather multiple proposals and analyzes them to find the best fit for your company. We review the plan design and investment platform options with you to help you determine the solution that best aligns with your firm’s goals and objectives.
3. Client Fiduciary Vault
At MFPRetirement (MFPR), our team securely files all your plan documents and notes in your personalized Vault. This ensures that your firm meets all its fiduciary responsibilities and is compliant now and in the future. You have online access to Vault, which is your personalized fiduciary audit file consisting of an Investment Policy Statement, 404C compliance folder, vendor contracts, procedures and minutes, and government reporting.
4. Participant Education and Wellness
At MFPRetirement (MFPR), our team conducts enrollment and education meetings for you and your employees. These meetings help increase plan participation and maximize the value of the plan benefits for both trustee and plan participants. Your participants are offered a robust Financial Wellness program that provides a comprehensive online/mobile financial portal to interact with and learn from about all financial matters. They can track and monitor all their financial transactions, beyond their retirement plan. It is a way to try to reach everyone in the plan with education and information to manage their financial lives.
5. Plan Review and Update
At MFPRetirement (MFPR), our team conducts periodic review meetings with the plan administrative and your plan fiduciaries. At these meetings, we educate all parties about new laws, investment options and market conditions. Our annual reviews allow us to continue to improve the plan and confirm that it is the best solution for your company. We conduct fee benchmarking on at least a biennial basis.
6. Investment Analysis
At MFPRetirement (MFPR), our team believes a successful retirement program depends on a diversified investment lineup, which is achieved by a comprehensive investment process. As your co-fiduciary, we provide investment consultation with quarterly monitoring of your plan investments. We follow the guidelines in your Investment Policy Statement (IPS) to assist with your investment selection, monitoring, and possible replacement.
