Corporate Retirement Plans

We focus on working with employers like you to manage and improve your company's retirement plan. We specialize in advising employers with 401(k) plans. Our process simplifies your plan management, limits your fiduciary liability, reduces your costs, then educates, encourages and guides your employees to save the most money for retirement.

Your company is unique, so we customize your plan design to fit your needs. We help you maximize your benefit dollars by increasing the perceived value to employees. This allows you to attract and retain the most talented employees. As an independent advisor, we can work with any plan provider. We choose to recommend only top-tier providers, so you receive the most responsive service, best-in-class investments at the lowest possible share class, most cost-efficient plan, most advanced retirement plan technology, and the highest fiduciary protection.

The types of plans we provide advice for:

  • 401(k) Plans
  • Profit Sharing Plans
  • Cash Balance Plans
  • Defined Benefit Plans

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Our Process:

Our process simplifies your plan management, limits your fiduciary liability, reduces your costs, then educates, encourages and guides your employees to save the most money for retirement.

Simplify Your Plan Management:

We seek to understand your current plan management, then figure out ways to decrease the complexity and time spent managing your plan. We do this by leveraging top-tier plan providers and their experience, technology and resources.

Limit your Fiduciary Liability:

There is more to managing a retirement plan than keeping up with administrative tasks. Many organizations have elected to add 3(38) and 3(16) fiduciary protection to their retirement programs, saving time for in-house staff and minimizing risk by ensuring plans are fully compliant with relevant regulations.

3(38) Fiduciary Protection:

There are a variety of critical decisions that must be made regarding how and where to invest participant contributions. Smart leaders know that investment decisions should be left to the experts. Some organizations are choosing to go a step further in outsourcing complex investment decisions. They elect to save time by appointing a 3(38) fiduciary. Such fiduciaries have the authorization to make investment decisions for the plan so that your organization can focus on achieving its goals.

3(16) Fiduciary Protection:

In a 3(16) fiduciary relationship, the plan sponsor outsources many vital responsibilities to a specialized plan administrator. The 3(16) fiduciary takes complete responsibility for all aspects of plan administration, assuming full discretionary control. Most important, liability is shifted to the 3(16) fiduciary, mitigating risk to employers. The 3(16) is the entity that signs off on the Employee Retirement Income Security Act (ERISA) plan related documents. If there is an error in the plan, no matter how big or small, the 3(16) fiduciary is liable. They carry insurance for this purpose, and they take full responsibility for addressing the issue. The 3(16) fiduciary represents the organization as needed with the IRS and the Department of Labor, and they have a specialized attorney on staff to provide expert advice on plan design and management.

Examples of the specific tasks a 3(16) fiduciary handles include the following:

  • Preparation and signing off on various plan-related forms, such as the Form 5500
  • Management of vesting, eligibility calculations and loan policies
  • Preparation and mailing of participant notices and disclosures
  • Monitoring and notification of any plan irregularities
  • Reviewing and managing suspension of deferrals for hardship withdrawals
  • Approval of separation distributions

Reduce Your Costs:

Plan costs are like cell-phone plans. If your advisor doesn't shop your plan costs at least every two years, chances are you are paying much higher costs than necessary.

The greatest expense in your plan is the investment costs. If you don't have a 3(38) Fiduciary who is responsible for providing best-in-class investments at the lowest share class available, then your investment costs may be 30%-90% too high. This not only exposes you to litigation, but translates to much lower employee account balances at retirement.

Educate, Encourage, and Guide Employees:

In order for your employees to have the most money possible at retirement, we've distilled decades of retirement education experience into a three-step process:

  1. Encourage them to save as much as possible
  2. Spread their money out the right way
  3. Reduce fees as much as possible

Encourage them to save as much as possible:

Research shows that the single most important factor that determines account balance at retirement is savings rate of the employee.

Therefore we advise employers to work with top-tier plan providers who have the best tools and technology to encourage, educate and motivate employees to save as much as possible. This includes smartphone technology, advanced personalized messaging, and translating into monthly income in retirement.

Spread their money out the right way:

Asset allocation is the second most important factor that determines account balance at retirement.

Therefore we guide plan participants in selecting the most appropriate asset allocation for their situation, and educate them to make sure they are not taking on too much or too little risk in achieving their retirement goals.

Reduce fees as much as possible:

Fee erosion is the third most important factor that determines account balance at retirement.

Therefore our goal is to reduce fees as much as possible, including plan fees, investment fees, and making sure our advisory fees are reasonable. The less fees a plan participant pays, the more money they will have in retirement, all other things being equal.

For questions and additional information, please contact Pete Walkey, Senior Retirement Plans Advisor, at 317-727-5518. orĀ Pwalkey@wig-ins.com

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Contact Us

Indianapolis Office
7740 East 88th Street Suite 100
Indianapolis, Indiana 46256
Phone: (800) 395-2478
Greensburg Office
104 East 10th Street
Greensburg, Indiana 47240
Phone: (812) 663-3500
Since 1984, Witkemper Insurance and Financial Services have been providing insurance and financial service solutions for over 40 national insurance and financial service companies across the United States.
Greensburg Office
104 East 10th Street
Greensburg, Indiana 47240
Phone: (812) 663-3500
Toll Free: (800) 395-2478
Fax: (812) 663-3421
Indianapolis Office
7740 East 88th Street
Suite 100
Indianapolis, Indiana 46256
Toll Free: (800) 395-2478
Fax: (317) 288-7059
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