Our retirement plans are as diverse as the companies we serve. Implementing the right plan with the right features is crucial. Many service providers handle only a portion of retirement programs, but Trust Company of Illinois takes a holistic approach. Our team uses return expectations, risk tolerances, income needs and timelines as guard rails for determining the right asset mix.
We begin by conducting a goals-based exercise, asking questions including:
What goals does the company have for employee retirement, i.e., age, income, etc.?
Is there a specific audience whose contributions should be maximized?
Should employee contributions be encouraged through education-based programming?
Is there an opportunity to redesign the current retirement plan to reduce costs?
Our clients rely upon us for our comprehensive suite of services including 401(k) profit sharing plans, profit sharing plans, 403(b) plans, defined benefit plans, cash balance DB plans, SEP IRAs, non-qualified plans and more. Through our offerings, clients may have the opportunity to select funds by asset class or choose a predefined, diversified portfolio – based on risk tolerance level, and in some circumstances, a pre-determined retirement date.
Our fully bundled retirement service model includes:
Initial and ongoing plan design consultation and optimization including the drafting of sponsor and employee plan documents
Discretionary investment fiduciary services including ERISA 403(a) discretionary trustee, ERISA 3(38) investment manager, ERISA 3(21) investment advisor, complete audit support and annual, semi-annual or quarterly plan sponsor investment committee meetings
Daily recordkeeping and transaction processing, annual compliance testing and government reporting