Evaluating the Health of Your Company’s Retirement Plan

As you look back on 2023, how effective was your company’s retirement plan?

You should start by reviewing these key metrics:

  • Participation rate
  • Deferral rates
  • Average account balance and total plan assets
  • Investment fees and performance
  • Employee education resources

As you look ahead ask yourself these important questions:

  • What are your objectives for the company’s retirement plan?
  • What strategies can you implement toward achieving those goals?
  • What other changes are you considering for the coming year?

Annually assessing these key metrics will help you evaluate the effectiveness of your plan and identify strategies to help improve plan performance and better prepare employees for retirement. It’s important to give your retirement plan a
thorough checkup at least once a year to help make sure it’s performing at peak health.

We can help. CONTACT US for an annual retirement plan review. Let’s work toward making sure your plan is operating at its best — and in the best interests of your participants — together.

This information was developed as a general guide to educate plan sponsors and is not intended as authoritative guidance or tax/legal advice. Each plan has unique requirements, and you should consult your attorney or tax advisor for guidance on your specific situation.