NFC focuses on the process of providing guidance and expertise to organizations and individuals regarding their retirement plans. It involves assisting employers in designing, implementing, and managing retirement benefit programs for their employees.
Retirement plans are crucial for individuals and organizations to ensure financial security during their post-employment years. However, navigating the complexities of retirement planning can be challenging, especially given the numerous laws, regulations, and investment options involved. NFC helps clients make informed decisions and develop strategies to optimize their retirement plans.
NFC works with employers to design and customize retirement benefit programs that align with the organization's goals and the needs of its employees. We consider factors such as employee demographics, contribution levels, vesting schedules, and eligibility criteria to create a plan that is both attractive and cost-effective.
Retirement plans are subject to various legal and regulatory requirements, such as those outlined in the Employee Retirement Income Security Act (ERISA) in the United States. NFC helps employers understand and adhere to these regulations, ensuring that their retirement plans meet all necessary compliance standards.
As consultants we recognize the importance of educating employees about their retirement plans. NFC will conduct regular workshops, seminars, and one-on-one meetings to help employees understand the plan's features, investment options, contribution limits, and the benefits of long-term savings. Clear and effective communication helps ensure that employees make informed decisions and take full advantage of their retirement benefits.
NFC regularly evaluates the effectiveness and efficiency of existing retirement plans. We’ll assess factors such as plan participation rates, contribution levels, investment performance, and administrative costs. By benchmarking against industry standards, we identify areas for improvement and recommend strategies to enhance plan outcomes.
NFC assists in selecting appropriate investment options for retirement plans. We evaluate various investment vehicles, such as mutual funds, index funds, target-date funds, and CITs, considering factors like risk tolerance, diversification, and long-term performance. Additionally, we regularly monitor the plan's investment performance and make recommendations for adjustments as needed.
As consultants to your plan we also offer fiduciary services, acting as a named fiduciary or co-fiduciary to the retirement plan. This involves assuming certain legal responsibilities and obligations related to the plan, such as prudently selecting and monitoring investment options and ensuring that decisions are made in the best interests of plan participants.
Overall, retirement plan consulting aims to help employers and individuals navigate the complexities of retirement planning, maximize the benefits of retirement plans, and ensure compliance with applicable laws and regulations. By providing expertise in plan design, investment selection, compliance, and employee education, NFC plays a vital role in supporting successful retirement outcomes.
The NFC team is ready to serve you and your organization. If you would like to speak to a consultant or learn more about our service please Schedule a Consultation below: