At Shea & McMurdie Retirement, we believe some small retirement plans may not get the attention they deserve, and we strive to bring Fortune 500 quality plan services to small and medium-sized businesses. Our business is devoted to corporate retirement plans. As such, we understand the different needs of employers in all industries and each job position within a company. We bring comprehensive support to each including consulting, investments, education and technical expertise.

401(k) Planning & Evaluation

Our 5 step plan process is designed to help create and maintain successful retirement plans for clients and successful results for employers. Click on a plan step below to learn more:

click map Fiduciary Responsibility Plan Design & Expenses Employee Education Investment Selection Plan Services

Fiduciary Responsibility

A Fiduciary is anyone who can or does exercise control or influence over plan assets, administration or design.

Under ERISA, fiduciaries have the obligation to manage a plan’s investments through prudent selection and review, as well as monitoring plan services and controlling expenses.

Fiduciaries have a duty to operate the plan for the exclusive purpose of providing retirement benefits for the benefit of the employees of the plan sponsor.

As 3(21) Fiduciaries, Shea & McMurdie Retirement works with plan sponsors to educate, organize, and implement meetings and processes that assist to protect/reduce their liability and fulfill their responsibility to their employees.

There are many participants in the fiduciary pool. It is important (1) to know who is in the pool, and (2) what the responsibilities are. Proper processes are like the rescue buoy for the fiduciaries.

As your advisor to the plan:
Fiduciary meetings will be held regularly to assist in reducing fiduciary liability, and establishing processes and structure to manage the plan. Processes include:

  • Investment Committee Evaluation of investments
  • Adherence to Safe Harbor guidelines and follow Prudent Man Rule
  • Maintaining an Investment Policy Statement
  • Following DOL and IRS guidelines and Audit requests

Plan Design & Expenses

Benchmarking plan design, services, and expenses are important for successful participant results.

75% of plan participants said they could have saved more throughout their career particularly in the first 5 years*.

New Research from NARPP reveals that 58% of working Americans do not realize they are paying fees for their work place retirement plan.+

+National Association or Retirement Plan Participants study June 2015 Plan Sponsor Magazine

*American Century Investment Survey conducted March 2015

We believe the recipe for client satisfaction includes managing plan expenses below industry averages, designing a plan to encourage employees to prepare for retirement, and achieving company objectives.

We have all put together puzzles and tried to match the right pieces in the right places. Through evaluation and aligning the plan with the company’s philosophy and budget, the “puzzle” begins to make sense.

As your advisor to the plan:
Our experience with many different employers in many different industries
provides significant insight into provisions that work in some industries but do
not work in others.

Some of our tools include:

  • Auto-enrollment to increase participation
  • Auto-increase to enhance retirement results
  • Benchmarking of fees and services

Employee Education

Only 12% of Participants strongly agree that “When it came to investing my retirement plan money, I knew very well what I was doing.” *

More than 50% feel ill-equipped to plan for retirement, and 84% of employers want to help them learn more.**

Employee Education on budgeting, credit, college savings, retirement, etc. is done by less than 20% of employers+

*American Century Investments Survey 2015

**Source: JP Morgan 2012 Participant Attitudinal Survey

+Plan Advisor Magazine, January 2016

As you know, good communication doesn’t happen by accident. A successful employee communication program requires planning. Shea & McMurdie Retirement assists you in designing a plan that creates informed and confident participants.

As Your Advisor to the Plan we:

  • Develop an annual education calendar
  • Conduct group meetings
  • Provide one-on-one discussions and phone calls
  • Organize webcasts and target communications
  • Understand individual participant objectives

Education is an ongoing process

Investment Selection

The average number of investment options held by participants is 3.2 with the figure falling since 2000*.

Employees like investment decisions to be simple.

When identifying the investment options available the fiduciaries should follow an Investment Policy Statement and the Prudent Man Rule.

Fewer than half of retirement plan participants are confident in their ability to make the right investment decision. However, 3 of 4 are confident with professional help.*

*Fidelity Investments fourth quarter 2015 Building Futures

Designing an investment lineup as well as documenting the selection process is an important part of sponsoring a retirement plan. All of this can be accomplished through an Investment Policy Statement, which Shea & McMurdie Retirement can help to create and maintain.

Choosing the balance between risk and reward is a challenging task. Where do you want to be on the slope?

As Your Advisor to the Plan: We utilize processes and tools beneficial for participant desired results:

  • Lowest cost share class available
  • Investment Policy Statement
  • Benchmarking funds with their appropriate asset class
  • Target Date Investments and Risk Date Models
  • Research tools from independent databases

Plan Services

Value Added support by the Advisor, Record Keeper, and Compliance services reduce the load on HR and Plan Sponsor

When there is a question, are you comfortable and confident your Advisor or service providers will be there?

At any time 17% of Plan Sponsors are actively looking to change their advisor. Only 20% of Plan Sponsors said their advisor is very good at proving their value to the plan.*

*2015 Plan Sponsor Attitude Survey. Fidelity Investments.

Because we are independent, we have full flexibility to research, benchmark, and locate the proper Service Provider to effectively meet the client’s objectives. Different providers target different segments of the business and our philosophy encourages the flexibility to find the appropriate provider.

Over the past twenty plus years, Shea & McMurdie Retirement has evaluated many service providers and have identified those we believe are able to provide the high standard of service our clients deserve and expect. Changes have been made as employers grow or needed more/better services. Clients’ needs and expectations are always the primary concern.

As the Advisor to the Plan:
Audit Support when needed, benchmarking, easy and prompt access to information or answers, consistent reliable staff by service providers, and enrollment and education support are some of the services provided. When the Plan Sponsor is not hearing complaints or problems and/or HR does not have to take time to solve the problem is when the needed service providers are doing their job. Our clients know Shea and McMurdie fulfill that role.