Broker Check

The Retirement Plan Health Check

The Importance of a Healthy Retirement Plan

Given the nature of the regulatory environment and the emphasis plan sponsors are now placing on the capabilities of advisors and the services they are providing, it is essential that an accurate measurement of a plan’s value exists. While recordkeepers have provided their own branded versions of this type of information to plan sponsors in the past, LPL Financial understands that now more than ever, advisors want to control this analysis and deliverable. To meet this demand, LPL Financial has partnered with Fiduciary Benchmarks and created the Retirement Plan Health Check. This comprehensive and sophisticated program will allow advisors to access and provide qualitative plan statistics in a simple straightforward format.

Our Plan Health Check Solution

The Retirement Plan Health Check tool will allows advisors to provide a competitive offering to plan sponsors in the form of a true and objective plan health breakdown. The Retirement Plan Health Check tool allows advisors to report on the "health" of a plan by presenting key plan attributes compared to a valid peer group, such as:

  • Historic and age group-based plan participation, deferral rates and average account balances
  • Highly and non-highly compensated employee statistics
  • Age group segmentation and total participant contribution levels
  • Current and historic portfolio diversification data shown in total and divided by age groups
  • Aggregate plan performance
  • Plan fees
  • Ability to save historical results regardless of plan provider

How the Plan Health Check Works

After entering the appropriate plan data, you will decide what information to include in the report. The output is completely modular and you will have the ability to choose from a large number of unique report combinations based on your preferences. The output is plan sponsor-focused in an easy to understand format that includes colorful tables, charts and graphs. All data entered is automatically stored for use in future reports, to eliminate the effort of duplicate entry and show the changes in these key plan attributes.

Retirement Plan Healthcheck

Please contact us for a complimentary Retirement Plan Healthcheck. Call or email Thomas Lanahan today.