If a company's 401(k) plan isn't managed properly, then it's not a benefit to employees and it can become a significant liability to the company.
Richardson, TX (PRWEB) February 27, 2014
Richard P. Slaughter Associates 401(k) Services is now RPS Retirement Plan Advisors. The new name better articulates the dedication to a complete array of retirement plan services offered by the company as a 3(38) fiduciary. Along with the name change and new logo, the company is expanding its leadership team in the Dallas Metroplex with the addition of retirement industry veteran Phil Webb.
Only a few select advisors have the unique ability to assume fiduciary duties and liability as a 3(38) advisor. To serve as a 3(38) advisor, a company must be a Registered Investment Advisor and provide services without commissions. As a fee-only Registered Investment Advisor, RPS Retirement Plan Advisors meets these requirements, and has delivered such fiduciary services to its clients for more than 20 years.
“The principle idea of a retirement plan for a company is to provide value to its employees and be a true benefit for recruitment and retention,” says Bob Tabor, RPS Retirement Plan Advisors Vice President. “If a company’s 401(k) plan isn’t managed properly, then it’s not a benefit to employees and it can become a significant liability to the company. Our intent is to alleviate the liability for the company while supporting employees for retirement readiness.”
RPS Retirement Plan Advisors institutes its FiduciaryPlus™ strategy to develop a plan that is cost effective, valued by employees, reduces stress on the company’s workload, is Department of Labor audit ready, and limits fiduciary liability for both the company and individuals. The FiduciaryPlus strategy focuses on six areas to develop a healthy plan: Plan Design, Retirement Readiness Program, ERISA Compliance, Service Provider Oversight, Quality Investments, and Cost Control.
Using his 19-plus years of experience with several leading companies within the retirement plan industry, Phil Webb will lead the Metroplex office as a Senior Plan Advisor. He has held positions with sales, service and advisory oversight of corporate retirement plans — a unique combination of skills that translate very well for serving as an advocate for plan sponsors.
About RPS Retirement Plan Advisors
RPS Retirement Plan Advisors is a 3(38) fiduciary advisor that prepares employees to retire on time and financially secure while easing much of the fiduciary duties and associated liability from the company’s plan sponsor.
The company was originally launched as a division of Richard P. Slaughter Associates to bring the same array of investment choices for 401(k) clients as the company had provided to its high net worth clients for more than 20 years. The 401(k) division was recently rebranded as RPS Retirement Plan Advisors to better articulate the dedicated retirement plan services offered. RPS Retirement Plan Advisors has offices in the Dallas Metroplex and Austin.