Welcome to Plan Sponsor Workshop!

Our mission is to provide you with the training and tools to improve your plan management and the lives of your employees. At our event you will:

• Learn how to tackle fiduciary responsibilities and benefits.

• Connect with industry experts.

• Obtains the strategies and tools needed to take your benefits program to new heights.

So what’s next?

While you and the other proactive plan sponsors were undoubtedly asking, “how do I best prepare for this educational event?”, we assembled everything you need to know. Please find below a simple guide to maximizing your event experience.

Step 1: Prior

• Event Details: A few days prior, keep an eye out for an update email including parking, agenda and room location info. If you have any specific questions please feel free to reach out to our team.

• Goals and Questions: What are the things you have been putting off or don’t understand? Maybe it’s to better understand fiduciary responsibilities, conduct an employee wellness survey or benchmark the plan. Write down your goals. Now write out 2-3 questions that are related to accomplishing these initiatives. The best way to individualize the seminar is to ask direct questions. Bring them and let’s talk!

• Connect with the speakers. At the event, you will gain access to the finest industry leading professionals who are dedicated to helping you learn about best practices and implement ideas. Be sure to check out the event page online and connect with our expert speakers on LinkedIn.

Step 2: During

• Check-In: As you arrive, be sure to stop at the sign-in table to receive your name tag and request any needed Continuing Education Credits. From there you can grab food and find a seat in the main room.

• Network and Participation: You are not alone. As you engage with local 401(k), 403(b) and benefits leaders, be prepared to learn the latest in plan best practices and network with other professionals. Expect to take notes and ask questions. You will be sitting in a room full of plan sponsors, executives and fiduciaries like yourself, all eager to learn. No one here is a stranger. Start a conversation.

• Resources Tools and Evaluation Form: Make sure to fill out your evaluation form! This is where you can let us know your feedback/thoughts and request resources & tools while available. Also, this form is required for us to distribute CE credits (delivered via email)!

Step 3: Post

Now, we want to make sure what you learned can translate into actionable ideas and enhancements. As a prudent plan sponsor it is important to:

• Document: As a way to document your training, we will send you a Certificate of Attendance. Save and file as a record of the training you just received.

• Periodically Evaluate: Finally, in order to facilitate impact and enhancement, we’ve created the Complimentary Plan Evaluation. We know juggling the responsibilities of a plan sponsor isn’t the only part of your job, but you are in the position to have a major impact on the retirement of your employees.

The plan assessment is designed to maximize time and help you meet the annual fiduciary requirement of reviewing your plan. This straightforward, one-hour at your office time investment is complimentary with your registration and tackles fiduciary best practices, plan design, benefits, investments, and fees with the host of our workshop – no strings attached.

Wading through the responsibilities of setting up a retirement plan is a daunting task, with Plan Sponsors often overwhelmed by the sheer volume of information, advice and marketing in the industry – but helping businesses build an effective benefits program calls for a focused approach that addresses Plan Sponsor concerns directly. 

Below are the top 5 topics of interest reported in a Plan Sponsor Survey compiled by Xponential Growth Solutions (XGS.)

1)     Fiduciary Responsibility – 86%

“I am not a trustee of our plan, but I process all contributions from payroll and partner draws and all transmittal to our plan and a handful of self-directed accounts. Am I considered a fiduciary? What is my potential liability?”

- Commonly-asked question in Plan Sponsor Survey

Fiduciary Responsibility was by far the number one topic for respondents to the XGS survey. Eighty-six percent were unsure whether their existing job functions qualified them as a Fiduciary, even if they weren’t labeled as one.  

Fiduciaries are obligated to act in the best interest of participants, and not doing so can lead to big legal trouble – so it’s no surprise that understanding their role is a top priority for Plan Sponsors. Fiduciary Responsibility means steering clear of potential conflicts of interests in favor of making the best decisions on behalf of plan participants.

2)     Plan Design & Participant Behaviors – 65%

The second-largest concern for Plan Sponsors was the design, implementation and management of the plans themselves. Putting a benefits plan in place is only half the battle – it’s also imperative to recognize participant behaviors and anticipate their needs. Even the most well-crafted programs need participation to work, and sixty-five percent of Plan Sponsors know it.

3)     Retirement Plan Fees – 59%

So you’ve got a plan and participation, but are you paying too much in fees? Fifty-nine percent of those surveyed by XGS aren’t sure. Understanding the expenses involved in managing any benefits plan is an essential part of fiduciary responsibility to ensure participants are getting the most out of their investments.

“What’s the importance from a fiduciary standpoint of having an unbiased financial wellness program versus having the plan advisor deliver programs, and is it worth the extra investment?”

— Commonly asked question in XGS Survey

4)     Economic and Legislative updates – 57%

More than half (57%) of respondents want to keep an eye on Wall Street as well as Capitol Hill. Changes to legislation and an unpredictable economy can have a huge impact on the decisions Plan Sponsors make, and staying ahead of the curve can significantly limit fiduciary risk.

5)     Financial Wellness – 55%

XGS found a noticeable uptick in interest in Financial Wellness from previous survey years, especially from smaller size plans. As more employers come to realize the benefits of Financial Wellness programs, some fifty-five percent are confused about what kinds of programs actually qualify as such, and whether they fall under the umbrella of fiduciary responsibility.