Protecting Your Employees’ Futures
As an independent business, MRA Associates understands the complexities and challenges of retirement planning. Businesses want to help their employees achieve their financial goals, while remaining competitive and compliant. We utilize our expertise and resources to design a retirement plan that is right for both you and your employees.
Our process begins with identifying your goals, and then creating unique solutions to make them a reality. We take a holistic approach, one that goes above and beyond the average, generic offerings of most advisors, and incorporates innovative strategies to meet your needs. We offer retirement guidance across the entire plan, providing compliance, organization, and documentation, all at competitive service fees.
Throughout the process, we maintain full transparency and open communication, responding to questions and problems quickly to keep you informed. We meet quarterly to review the investment menu structure, plan governance, investment performance, current legislative and regulatory topics, participant behavior (if participant-directed), plan statistics, education strategy, economic updates, plan costs, and other relevant information.
Trustee-Directed Retirement Plans
MRA Associates assists in constructing, implementing, and managing the portfolio for trustee-directed retirement plans. We draft and maintain the Investment Policy Statement (IPS) to ensure the plan adheres to applicable fiduciary standards and regulatory changes. We select and monitor the investment options within the portfolio, and conduct ongoing investment manager research, recommendation, and replacement.
* MRA Associates provides these investment services to the plan as an ERISA 3(38) investment manager.
Participant-Directed Retirement Plans
For participant-directed plans, we design and implement a prudent investment structure. We review and recommend the plan’s Qualified Default Investment Alternative (QDIA) and maintain the Investment Policy Statement (IPS) to ensure the plan adheres to the proper standards and regulations. We also select and monitor the investment options, and conduct ongoing investment manager research, recommendation, and replacement.
* MRA Associates provides these investment services to the plan as an ERISA 3(21) limited scope investment fiduciary.
We go above and beyond to help our clients understand and meet their fiduciary obligations under ERISA and the Department of Labor. We simplify fiduciary compliance and shoulder the burden of labor to help plan sponsors meet their fiduciary obligations.
Plan Sponsor Services
- Lead investment review meetings, including investment reporting package, economic overview, regulatory update, and other relevant plan matters
- Produce and retain investment committee meeting minutes
- Coordinate plan document and other issues with ERISA counsel
- Review participant investment behavior
- Monitor service provider(s) and help resolve problems
- Ensure full fee transparency
- Benchmark service provider fees and services
- Initiate periodic Requests for Proposal (RFP) for recordkeeping, compliance, and custodial services
- Coordinate service provider transition
- Provide annual fiduciary education
- Review plan governance structure
- Support ongoing fiduciary compliance support
- Assist with applicable annual compliance notices (Safe Harbor, QDIA, 404(c), automatic enrollment, etc.)
- Review of 404(c) procedures
- Review total plan costs annually
- Evaluate competitiveness of recordkeeping, compliance, and custodial vendor fees and services
- Benchmark and evaluate investment manager fees
Plan Goals and Objectives Exercise
- Assist plan sponsor in establishing annual and long-term plan objectives (participant, sponsor, investment, and total plan)
- Monitor short-term and long-term progress toward achievement of objectives
- Review and revise annually as appropriate
- Prepare Current State Analysis (CSA) for comparison to the marketplace
- Coordinate plan design enhancements to improve participant retirement preparedness metrics
Participant Education and Communication Services
- Develop a participant education and communication strategy
- Negotiate vendor implementation and delivery
- Monitor results