WHAT'S NEW?
“Retirement Wake-up Call”
At Prudential Retirement we believe a happy and fulfilling life in retirement should be in reach of every hard working person – not just the few.
In pursuit of this belief, Prudential Retirement has joined America Saves Organization to encourage millions of Americans to save for their retirement.
If you are between the ages of 25 and 65 and are currently contributing to your firm’s retirement plan, watch your home mail for a “Retirement Wake-up Call Flyer” designed to remind you of the importance of saving for your future. The flyer encourages you to consider increasing your current contribution amount, consider making catch-up contributions if you are age 50+, review your investment allocation and consider consolidating other retirement plan accounts into your current firm’s plan.
Mailers are scheduled to arrive in mailboxes in mid-June.
New 3-Year Contract
Dear ACEC Member Firms,
The ACEC Retirement Trust provides retirement programs to ACEC member firms at discounted rates. Retirement programs available through the trust include 401(k), Profit Sharing, Defined Benefit, Deferred Compensation, ESOP, Simple IRA’s and more. The Trust offers comprehensive retirement solutions to member firms of all sizes.
The ACEC Retirement Trustee’s are proud to announce a new 3 year contract with Prudential Retirement and Wells Fargo Advisors effective January 1, 2008. The renegotiated contract focuses on continuing the high level of service to the member firms and passes on even greater savings to both the firms and their employees.
The Trust retains an independent consultant, RBC Dain Rauscher, to negotiate on its behalf. Under the new contract, RBC Dain Rauscher’s research shows that the average ACEC plan saves roughly 50% on its plan investment and administrative expenses. For some companies, this savings alone may be enough to offset their ACEC state and national dues. This savings, coupled with the range of investment choices, fiduciary protection, administration, recordkeeping and education can make the ACEC Retirement Trust a tremendous benefit for ACEC member firms.
We would like to work with you. Benefits to your firm may include: savings on administrative fees, expanded fiduciary protection, lower investment fees, high quality recordkeeping, customized education and proactive plan design services. For more information, please see www.nancybarrette.wfadv.com.
Benefits of Plan Participation
Your firm may realize the following benefits through your participation in the ACEC Retirement Plan:
- Saving on administrative costs
- Expanded fiduciary protection
- Lower investment fees
- High quality administration and record keeping
- Customized education and proactive plan design
Customized Plan
The ACEC Retirement Trust provides plan design assistance, implementation assistance, employee communication and ongoing program review to ensure your plan fits the changing business environment. Our team of professionals has the experience, insight and skill to design the right plan for your company and keep it running smoothly. Through our analysis of various program alternatives, we are able to design programs that allow our clients to keep more of their plan assets for themselves as individuals or as business owners. We look at a client's current situation and identify areas of improvement, matching the retirement plan to their current and projected needs. Benefits include:
- Auto Enrollment
- Safe Harbor
- Employer Match/Profit Sharing
- Tiered Profit Sharing/New Comparability
- Traditional/Roth 401k
- Top Hat Plans
- 401k/Profit Sharing/Money Purchase/SEP/Simple IRA
- Deferred Compensation
- Defined Benefit
Quarterly Actions of the Trustees
September 2007 to Present
- Completed a due diligence investigation and signed the new contract to provide record-keeping, administrative, enrollment and education services to the Trust with Prudential for a 3-year period beginning January 1, 2008.
- Requested investment consultant RBC Dain Rauscher to conduct a search for a small cap growth fund.
- Reviewed the audit of the Trust prepared by the accounting firm of Wiss & Company for the year ending September 30, 2007.