401k Plan

REVIEW, REDESIGN and SERVICE

At Hoover and Associates, we bring over 25 years’ experience in servicing small and mid-sized 401k plans.  As our many clients can attest, our goal is to go beyond the ordinary, to help ensure that your plan is dynamic, efficient, and that it realizes its fullest potential as a valuable asset to your company.

With over 100 million in assets under management, our team of professionals is dedicated to providing the guidance, vision, and customer care that is required in every phase of planning for successful implementation and results.

We embrace our responsibility and emphasize customer service and communication with you and your employees to help ensure that prudent strategies are utilized and plan performance goals are achieved.

Our service is based on four key components of plan management: plan review, investment evaluation, fiduciary support and participant education and communication.

PLAN REVIEW:

  • Evaluating of your company’s objectives and constraints
  • Benchmarking your plan’s current design, fee structure, and features
  • Examining of your current plan in light of current IRS and Department of Labor Regulations
  • Determining of areas where your plan performance can improve and providing the necessary strategies and recommendations to achieve success

 

INVESTMENT EVALUATION:

  • Strategic Review and analysis of  investment options utilizing the latest in quantitative and qualitative tools (in accordance with the plan’s Investment Policy Statement)
  • Systematic monitoring of the plan’s investment options based on fund performance, changes to plans’ goals, and regulatory requirements

 

FIDUCIARY SUPPORT:

  • Performing systematic plan reviews
  • Evaluation and guidance to help minimize fiduciary risk
  • Facilitating Investment Committee Meetings and providing minutes for record keeping

 

PARTICIPANT EDUCATION and COMMUNICATION STRATERGY:

  • Evaluating and implementing of an employee communication and education plan
  • Providing on-site group meetings and individual face-to-face participant consultations and evaluations
  • Conducting ongoing employee education on retirement planning and asset allocation strategies
  • Providing targeted participant communications