Plan Design and Changes
At SGP Consultants we take your particular labor market, budget and administrative environment all into account to design a retirement program that is right for your company. There are always several very important criteria we take into consideration when designing a plan and deciding on design changes with our clients.
You might know that you need a retirement plan because it is the right thing to do, or that you should amend your current plan to accommodate changes in the law, or just to stay competitive with other employers.
A retirement plan is not an off-the-shelf commodity, but rather a unique program designed to accomplish business objectives. Making sure your plan meets these objectives requires careful analysis to assure that it is affordable in the long-run, provides the level of benefits that are of the right value, easily appreciated and fit into your competitive environment while meeting your total rewards (compensation and benefits) goal.
When designing a plan or considering changes to your existing retirement plans, SGP Consultants will:
· Ask you about your objectives
· Inquire about your administrative environment
· Analyze the competitive environment in which you conduct business
· Consider the benefits provided by your affiliates at home and abroad
· Factor in your other benefit programs and your compensation structure
· Keep your finances and budget in mind
· Put the nature of your workforce in the forefront
SGP Consultants is not a benefits administration firm, but we will facilitate the use of the appropriate combination of third party administration services that work best for your company. After plan design decisions are made we work with your lawyers and service providers to make sure your new plans or your plan changes are duly implemented and the plan delivers the benefits that are intended and meets your overall business objectives.
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