Plan Sponsors

SFP Wealth’s services for plan sponsors includes: 3(21) and 3(38) fiduciary services, investment selection and due diligence, plan design, plan acquisition and transition oversight, vendor evaluation and search (RFP), creation of investment policy statement, establishing an investment committee, educate investment committee on fiduciary roles and responsibilities, conduct regularly scheduled plan review meetings, documented trail of decision-making process (formal meeting minutes), plan benchmarking, flexible asset-based and flat-fee compensation arrangements, private equity portfolio company support, and controlled groups coordination in partnership with local ERISA counsel.

A plan sponsor is a designated party - usually a company or employer - that sets up a retirement plan, such as a 401(k), for the benefit of the organization's employees. The responsibilities of the plan sponsor include vendor selection, investment choices, and in some cases, providing contribution payments in the form of cash and/or stock.

Employer sponsored retirement plans are a key component to a quality benefits package. For employers seeking a dedicated partner to assist in managing your retirement plan, we offer a full range of services to Plan Sponsors. Whether you have a one-person business or a large enterprise with thousands of employees, our retirement team can connect your objectives and culture with the ideal retirement plan for your organization. While plans can look very different, the need for professional oversight, ongoing employee education, and completely independent objective advice remain constant.

Plan Participants

While plans can look very different, the need for professional oversight, ongoing employee education, and completely independent objective advice remain constant. SFP Wealth’s services for plan participants includes: evaluating plan metrics and employee demographics, design a custom financial wellness program, conducting on-site and/or virtual meetings (employee enrollment meetings, education group seminars, one-on-one participant consultations), creating an education policy statement, and assisting terminated employees with options. 

A plan participant either contributes into a retirement plan or is in a position to receive benefit payments from the plan. It includes a retired person receiving distributions from a retirement plan, or a beneficiary or dependent named by a contributing member. A plan participant has the right to receive benefit payments from a retirement plan, whether it is a defined benefit or a defined contribution retirement plan, as long as the requirements under the plan's contract have been fulfilled.