PlanScope360™ Plan Governance

Delivering increased employee engagement, more enrollments and best practices in plan operations and liability management

Plan Governance

Plan Governance establishes time and cost efficient oversight processes to mitigate risk and maximize plan benefits

Plan Design

Effective plan design aligns plan features with plan goals including employee participation and and retention

Provider Management

Provider management ensures that the plan’s investment providers deliver on the promises they make

Plan Compliance

Plan compliance installs processes for collecting, maintaining, and retrieving all relevant documents, and keeping them current

Participant Engagement

Participant engagement processes help employees understand and embrace a plan towards long term financial security

Plan Economics

Plan Economics delivers improved understanding of plan-related expenses, while introducing fee transparency and provider accountability

Increase plan engagement, grow enrollments, and add

protections for you and your plan.

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Plan Governance

Plan Governance establishes routines and processes that guide how the plan is to operate and be administered. Governance begins with creating a governance committee led by a Plan Governance Officer (PGO). The PGO should be familiar with industry best practices, including adhering to legal and compliance regulations. The committee creates goals and objectives, conduct reviews of current operations and plan performance, and works to improve the plans outcomes.

Plan Design

Plan design begins with the Plan Document – a document and processes that protect the employer while best serving the plan participants. The Plan document defines the benefits, eligibility provisions, features, and available providers for plan participants. Oversight of the Plan Document is managed by the governance committee.

Provider Managment

Provider management ensures that the plan’s investment providers offer products and services that help participants save for, and retire, successfully. Initial and ongoing provider reviews are completed by the plan’s governance committee.  Goals of provider management include ensuring that all service providers are effectively performing key processes, including reviews of investment products, measuring participation rates, and overseeing local representation responsible for educating, enrolling and performing ongoing services to plan participants. Through the Provider Management process, a Complaint Resolution Policy and Provider Representative Code of Conduct will be implemented.

Plan
Compliance

Plan compliance installs processes for collecting, maintaining, and retrieving all relevant documents, and keeping them current. This protects the plan sponsor from regulatory and industry scrutiny and provides the tools for an employer to successfully defend an audit.

Plan Engagement

Participant engagement processes deliver education and communication support to help employees understand and effectively use their plan. The participant engagement framework encourages open communications to address questions, concerns, and complaints, while also delivering quality educational content and tools to meet employees where they are in their financial journey and facilitate ongoing improvements toward financial security. The governance committee will develop and implement an Education Policy Statement (EPS) that includes and adheres to best-practice standards in plan design, compliance, provider management and overall governance.

Plan Economics

Plan Economics begins with a review of various costs of the services delivered to the plan and its participants, with the goal of fee transparency, accountability and understanding for all stakeholders, across all plan providers. Once costs are documented and understood, the governance committee works with plan providers on maximizing the plan benefits to both the plan and its participants.