As a Business Owner, you may have many difficult decisions to make this year. This is not one of them. If a vendor gave you the option to cut the cost of its services and still receive the same or better quality that would be an easy decision. CJM Fiscal Retirement plans offer trustees, plan sponsors and business owners a retirement plan solution that really does have the potential to save you money. And it’s not magic. It is a sensible and easy solution based on the Five Retirement Plan Essentials.
5 Retirement Plan Essentials
- Work with an ERISA Fiduciary. We offer Fiduciary protection suitable to the objectives of your plan.
- Full Scope Investment Fiduciary - ERISA 3(38)
- Full Scope 402a “Named Fiduciary” which means we are taking responsibility for EVERY aspect of the plan.
CJM Fiscal can service your plan in virtually any fiduciary capacity. Plan sponsors seeking the highest level of protection and labor reduction will be interested in our Full Scope 402a or for those looking to outsource investment decisions ask about our 3(38) service.
- Provide Prudent Portfolios. Many retirement plans provide employees with an overwhelming number of mutual fund options. This can confuse employees and may lead them to make unsuitable investment decisions. What we offer a structured approach to investing which makes investing a simple process. By offering DFA funds, we choose to apply diversification, minimize costs, and manage taxes to capture the returns that the market has to offer whether positive or negative. The main focus in on educating the client on how markets work and how to stay disciplined thereby optimizing the client’s chance of achieving their long-term goal.
- Offer Fee Transparency. As a retirement plan trustee, you have a legal obligation to know and understand all fees. Most 401(k) plans don’t work because of lack of fee clarity. Plan participants have no idea how much they pay in fees. Many plans have hidden fees that are buried under layers of red tape. Not only that, revenue sharing, pay to play fund platforms (12b-1 fees), Sub TA fees, Finders fees and incentive fees can all lead to excessive costs that can erode a plan participant’s retirement savings. With our plans, fees are transparent and disclosed. Do you know all the fees in your plan?
- Optimize Plan Design. Does your plan meet the needs of all employees? No single retirement plan is best for every company. Always putting the client first, we tailor each plan to meet the specific needs and goals of your company. We realize that one size doesn’t fit all. Our 401(k) plan has low total expenses and features professionally built investment portfolios. Best of all, it is easy to make the switch.
- Educate, Advise, Monitor. A salesman makes the sale and leaves. Ask yourself: if your current financial advisor providing investment education to my employees? Are they advising you about your fiduciary duties? Are they actively helping you reduce your potential legal liability? Do they monitor the plan and report to you on a regular basis? With a CJM Fiscal Retirement plan, our main goal is to continually educate plan sponsors, trustees and plan participants. We are with you every step of the way because we are committed to the long-term success of your plan
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CJM Fiscal Management utilizes BrightScope an Independent 3rd Party Rating Agency that is fast becoming the “Consumer Reports” of the retirement plan industry. They are an important source for unbiased information on the 401k marketplace.
BrightScope reviews more than 200 unique data inputs per plan and calculate a single numerical score which defines 401(k) plan quality at the company level benchmarked to their peers. This information is made public and is readily available to plan sponsors, regulators, and participants. Their mission is to increase the retirement security of America’s workforce by bringing transparency and efficiency to the 401k plan market.
CJM Fiscal Management is one of a few premier advisory firms to offer BrightScope to its clients as we continue to provide a level of service that is unparalleled in the industry.