Retirement Plan 401(k) Management Process (Graphing Model)
① Identify and understand strengths and challenges relative to goals and objectives
- Definition of a successful plan
② Deploy and monitor fiduciary responsibilities
- Maintain defined fiduciary roles
③ Craft an investment policy statement
- Investment selection criteria and investment monitoring
④ Monitor and review expenses as well as service providers
⑤ Effective employee and participant education program
- Employee education and success
⑥ Implement effective management process
- 401(k) Plan administration
