5-Steps to Group Retirement Programs

Step 1: Initial Consultation

A free initial consultation in which we assess your current program, gather pertinent data and establish the goals you would like to achieve with your Group Retirement Program.

Step 2: The Pension Performance Audit™

This audit comprises a 10-point checklist within which we review:

  1. The current Group Retirement contract
  2. Full disclosure of the fee/compensation structure payable to your current advisor
  3. The current benefit formula, relative to the needs of the various employee classifications and company budget considerations
  4. Investment Management Fees (IMF’s)
  5. Current fund selections
  6. Retirement liability funding
  7. Investment management performance and strategy
  8. Recurring expenses
  9. Plan support and service on all levels
  10. Conduct a complete market survey

We also conduct a review of the CAP Guidelines with your Plan Administrator and ensure your program complies.

Step 3: Presentation & Recommendations

We present the results of our Pension Performance Audit™, review each of the issues in detail and design a strategy to deal with each one. We outline the timeline required to implement our plan as well as any administration tools and resources that will ensure a seamless transition.

Step 4: Implementation

  1. Implementation of the strategies and tools agreed upon during the previous meetings
  2. Apply the most current and efficient administrative systems
  3. Discussion and review of BGM Financial’s Ongoing Service Commitment

Step 5: Service & Annual Review

Our ongoing services include:

  1. Complete market surveys every 3 years
  2. Quarterly claim updates
  3. Communication of changes in the marketplace
  4. Administration support & claims mediation

To learn more about BGM Financial’s Group Retirement Programs, please contact our office.