Food Services Company
- 700 employee organization
- Food services
- International presence in Canada & UK
- After 18 months of being engaged, Accelerate Retirement grew the plan by 8x, boosting participation to 95% with an average deferral of 8%. We improved their fiduciary processes by providing an Investment Policy Statement. We also benchmarked plan fees and transitioned to a new provider, fully supporting the conversion process. Finally, we re-designed the plan document to include “courageous plan design,” with features such as automatic enrollment, automatic escalation, improving eligibility requirements, and more. Through our efforts, the plan sponsor realized thousands of dollars in savings, which was ultimately passed back to their employees.
- 150 employee organization
- When Accelerate Retirement was engaged, we started the process by benchmarking plan fees. This allowed us to reduce recordkeeping fees by 20%. In addition, we restructured the investment lineup to levelize recordkeeping and advisory fees in the plan by using institutional share classes and Collective Investment Trusts (CITs). We also provided onsite education to explain the plan changes to employees and educate them on the benefits of the plan.
Nursing & Residential Care Facilities Company
- 5,000 employee organization
- Health Care Services
- When Accelerate Retirement was first engaged, the plan was using a “big box” fiduciary service that only provided passive fiduciary advice. We took an active role as a 3(38) fiduciary, mitigating liability for the company and improving their investment lineup.