Retirement Plan Consulting Services

De Boer, Baumann & Company (DB&C) Advisors, LLC bring dedicated resources and experience to businesses seeking tailored retirement plan strategies. In addition, we review your investment policy statements and educate you on potential compliance considerations and regulations.

Building your retirement plan begins with listening. We learn about you and your business then we analyze your situation, circumstances, goals, and objectives. We seek to recommend strategies designed for success that align with your needs and priorities. We also help you implement and monitor progress, to ensure the plan aligns with your goals.

Our Team

We are an independent, experienced, and consultative team that seeks to help you simplify the complex roles of plan administration. We apply a consultative and customizable approach to help you design &; tailor plans to meet specific situations and the needs of your organization. We have nearly 30 years of experience with plan design, administration, and tax compliance. We have a Retirement Plan Consultant who will work with you and your plan administrator to keep you up-to-date on your roles and responsibilities as the fiduciary. Additionally, we have over 25 years of experience with investment selection, investment monitoring, and plan consultation.

Our Approach

  • We are completely independent, and although we do have our "go-to" record keepers, we always approach decisions with multiple options in mind.
  • We approach each meeting with the goal of listening to ensure we understand your needs as the plan owner and to help you execute your objectives.
    • Throughout the relationship, we seek to ensure the plan delivers what the business owner desires and the participants expect.
    • We will seek to help deliver on the original plan's objectives, address difficulties you may be currently experiencing, and resolve opportunities as they arise.
  • Our team has the experience and knowledge to help educate you on the responsibilities of your entire 401k team, which stretches beyond DB&C Advisors and includes you as the employer, your record keeper, and your third party administrator.
  • We will also provide support to you and your organization as you navigate the requirements of the Department of Labor.
  • We help and support you with as much participant education, plan monitoring, and assistance as you desire.
  • We have a process in place for regular plan reviews and monitoring of investment selections.

Our Method

  1. We conduct an initial consultation meeting to determine your specific plan objectives, identify gaps that may currently exist, and help identify possible future problems. We help you determine if there are risks that exist with the current plan you would need to address. We get to know you, and together we decide if the team at DB&C Advisors is the best fit for you and your ongoing plan administration.
  2. If both parties feel that we are a good fit, we begin by seeking and gathering your plan participant census information and employee data. We can then develop a personalized proposal.
  3. How we help you during the proposal process, which includes:
    1. Presenting custodian options and associated fees
    2. Presenting administrative options and associated fees
    3. Discussing options and fees relating to outside investment and ongoing monitoring services
  4. Once our proposal has been delivered and any questions have been addressed, we will follow up to confirm proposal decisions and discuss the next steps.
  5. Finally, we help you begin implementation of the plan, including sign up periods, blackout dates, and participant education.

Our Service

Ongoing service is important to us. We strive to be your advisor for life by offering you continuous support services such as:

  1. Annual leadership meetings to review your plan, update you on changes within the industry and/or your specific plan, and determine our next steps, if changes are necessary.
  2. Participant meetings (annual or semiannual) based on existing plans or parameters agreed upon during implementation.
  3. Ongoing education.
  4. Onboarding for new participants.

Fiduciary Services

We adhere to a high standard of fiduciary excellence as we assist you with:

Investment Policy Statement

Assist in the preparation or review of the Plan's investment policy statement ("IPS"). Act as your liaison, working with service providers, product sponsors or vendors. In such cases, we act only in accordance with your instructions on investment or Plan administration matters and shall not exercise judgment or discretion.

Ongoing Investment Monitoring

Perform ongoing monitoring of investment manager(s) or investments in relation to the criteria specified in the Plan's IPS or other written guidelines you have provided.

Ongoing Investment Recommendations

Recommend, for your consideration and selection, 1) specific investments to be held by the Plan, or in the case of a participant-directed defined contribution plan, to be made available as investment options under the Plan; and 2) investment replacements if an existing investment is determined by the Plan Sponsor to no longer be suitable as an investment option.

Performance Reports

Prepare reports describing the performance of Plan investment manager(s) or investments, as well as comparing the performance to appropriate benchmarks.

Plan Committee Education

Provide training for the members of the Plan Committee with regard to their service on the Committee, including education and consulting with respect to fiduciary responsibilities.

Changes in Investment Options

We can assist you in making changes to investment options under the Plan.

404(c) Compliance

As part of our Ongoing Investment Recommendation Service, we can assist you in identifying investment options in connection with the "broad range" requirement of ERISA 404(c).

Qualified Default Investment Alternative

As part of our Ongoing Investment Recommendation Service, we can assist you in identifying an investment product or model portfolio in connection with the definition of a "Qualified Default Investment Alternative"; ("QDIA") under ERISA.

Participant Education Services

We believe that a successful participant education and communication program is critical to the success of your retirement plan. We work with you and your retirement plan committee to create the most appropriate program for your employee population which may include:

  • On-site group participant education and enrollment meetings to help your employees understand their options and pursue their unique financial objectives

  • Account information available via internet or telephone

  • Online education materials, tools and calculators

  • Updates on the current market environment

  • Assist individuals with general investment allocation guidance

  • 401(k) rollovers - provide participants with rollover assistance and investment guidance