Retirement Plan Services

"Companies must consistently examine, on an ongoing basis, the fees and performance of the funds in their 401(k) plans...Last year alone, close to 80% of large 401(k) plan sponsors polled by Greenwich Associates had reviewed the fees in their plans at least once." - Financial Week, April 28, 2008


Would you be surprised to find out that the fees being charged to your company’s plan were different than what you may have been told by your advisor or plan consultant?

In today’s qualified plan industry, the amount of plans that have hidden fees is surprising. When performing a comprehensive review, it is not uncommon for us to uncover a situation where a plan sponsor believes they are paying one fixed fee, only to find out that they are actually paying much more as a result of fees that have not been fully discussed or disclosed.

At Szarka Financial we take a different approach. We believe in full transparency of fees. Why? Because we are committed to doing things right and are pleased to disclose all costs associated with the qualified plan, at both the sponsor and participant levels. We can not only help you save money, but provide a level of personalized service that you may be unaccustomed to receiving.
 

Services Available:


What Does Szarka Financial Provide?

Szarka Financial has provided comprehensive financial services, educational seminars and consulting for over 25 years. As qualified plan advisors, we offer investment management and plan oversight, coupled with perhaps our greatest strength -- employee education.

While others talk about providing objective and comprehensive employee financial education, we deliver it. In fact, as a member of the Employers Resource Council’s (ERC) Dream Team of Northeast Ohio companies, Szarka Financial is endorsed as ERC’s preferred provider of financial education programs to the employees and senior management teams of Northeast Ohio businesses and organizations.
 

Next Steps

  • Click here for a PDF version of our full curriculum of topics that can help you fulfill your fiduciary responsibility to educate your employees, in accordance with the Pension Protection Act of 2006 and subsequent legislation. 
  • Request a no-obligation comprehensive review of your plan or contact
    Charles Conrad, JD at 440-779-1430 x232 for further information. 
  • Sign up for our 401k “Need to Know” newsletter. Find out more. 

 
Retirement Plan Services Process
 

Plan Review 

  1. Help identify inconsistencies between your objectives and your program’s current policies and providers. This includes an analysis of your Investment Policy Statement and investment options (Gap/Overlap Analysis). 
  2. Review your recordkeeper, custodian, and trustee fees and services in order to determine whether they are competitive in the marketplace. And, we will help you better understand the total fees (disclosed and undisclosed) of your current program.


Investment Policy Statement Review/Construction*

  1. As your plan’s consultant we can assist you in either drafting an Investment Policy Statement or reviewing and revising your existing Investment Policy Statement. This formal document states your service objectives as well as the roles and responsibilities of all of your current service providers (e.g. recordkeeper, trustee, consultant, investment managers). 
  2. We will help you ensure that the statement includes appropriate investment policy language, in an effort to be compliant with ERISA and associated fiduciary, procedural prudence, and due diligence requirements.
     

Consulting and Implementation* 

Szarka Financial differs from many retirement plan consultants because we do not represent any particular vendor. Instead, we select the appropriate service provider(s) depending on your individual needs. We represent you, the Plan Sponsor. By doing so, we are able to save you time and frustration by taking into account your specific needs and identifying as well as monitoring the appropriate service provider(s). In doing so, we strive to assist you in being compliant in all facets of the Investment Policy Statement.


Transition Management* 

  1. Changing any element of your defined contribution program can be time consuming for all involved. Szarka Financial takes a hands-on approach in helping manage these transitions, whether they involve a conversion between recordkeepers, a change in trustee/custodian, the addition or replacement of an investment option, or the change of a broker of record on the plan. 
  2. Transition management is also valuable in merger and acquisition situations, where an asset mapping strategy should be implemented.


Ongoing Evaluation* 

  1. Szarka Financial provides an ongoing plan evaluation to ensure that plan sponsors continue to have the knowledge and information necessary to meet their fiduciary responsibilities. 
  2. We provide quarterly performance measurement reports, including analysis of the current capital markets and a comparison of performance within each peer group. These reports can be delivered via hard copy or electronically. 
  3. Another benefit to the ongoing evaluation is that we continue to monitor the plan’s service providers to ensure that service levels, fees, and product development remain competitive. A review of your recordkeeper and trustee/custodian will be completed at least annually.


Financial Education*  

  1. Szarka Financial provides a curriculum of objective and comprehensive topics, covering a full range of financial categories (e.g., managing your 401(k), investments, estate planning, identity theft & fraud protection, retirement planning, IRAs, economic & market updates and building wealth). 
  2. Programs can be customized to fit your employee’s needs. We have presented topics tailored to companies ranging from small manufacturers to large hospital systems.
  3. We offer one-on-one executive wealth management coaching, as well as workshops for key employees.
  4. We are the only financial planning firm that is an endorsed provider of financial education by the Employers Resource Council (ERC).   

*Securities offered through FSC Securities Corporation.

Szarka Financial Management (SFM) is a recognized leader in the field of objective financial education, offering area businesses education programs for their employees. SFM is endorsed as the preferred provider of employee financial education by the Employers Resource Council (ERC).