Legally Sound
We understand and apply the legal standards of the Uniform Prudent Investor Act and the Restatement 3rd of Trusts (Prudent Investor Rule) and keep current with the laws, regulations and issues that define the standards of modern prudent fiduciary investing. While these standards primarily govern the investment conduct of trustees of private family trusts, they also have a strong bearing on the investment conduct of fiduciaries in other fields of trust investing including public and private employee retirement plans and non-profit organizations who 401(k) and 403(b) plans.
Academically Oriented
Nobel Prize-winning research helps guide the investment process we use. Our access to leading financial economists and academically oriented product providers allows us to develop practical investment portfolios that are backed by solid economic theory.
Cost Efficient
A vast number of academic studies confirm that investment costs and taxes can have an enormous impact on investment performance. Among similar investments, the ones with the highest costs and taxes generally have the worst performance. We understand the negative impact that investment costs and taxes can have on investment performance. That’s why we work to identify and control the taxes and (visible and invisible) costs that impact investment performance.
...the result is RightPath401k.
The RightPath401k is a state-of- the-art retirement plan program that offers an unbiased selection process and open architecture investment flexibility.
At ORRGROUP, our primary focus is a comprehensive and integrated approach to meeting a company’s need to offer quality retirement plans that benefit both the company and their employees. When a company provides benefits that offer the company and employees the opportunity to be financially well, everyone wins.
· Customized Plan Designs Based Upon Sponsor Goals
· Access to Open Architecture Investment Flexibility
· Integrated Plan Administration Service Model
· Extensive Participant Education and Service Model
· Fiduciary Guidance
· Transparent Pricing with Detailed Fee Disclosure
The RightPath401k primary commitment is to ensure that our clients receive responsive, objective, and innovative service and advice. We specialize in integrating expertise with products and services in a manner that is easily understood and effective.
Design & Consulting
ORRGROUP recognizes that a successful retirement plan means accurately identifying the company’s specific needs and goals before a plan design is recommended. RightPath401k is structured to explore all available alternatives in crafting a plan design that encourages employee participation while meeting the plan sponsor’s objectives.
Expertise and experience allows us to recommend a myriad of plan design features including the traditional 401(k) profit sharing plan to designs that entail cross-tested and age-weighted tiered compensation structures as well as safe-harbor allocations. Extensive knowledge and experience with ESOPS, Defined Benefit, and Non-Qualified Deferred Compensation plans gives the plan sponsor the resources to needed to offer the highest quality benefits available.
Investment Flexibility
In order to comply with ERISA fiduciary obligations, plan sponsors face the challenge of providing diversified investment menus and asset allocation capabilities to participants. Now more than ever, plan sponsors are cognizant of the need to have scrutinized and monitored investment options with multiple investment managers. To achieve this, it is recommended that employers strongly consider utilizing a platform provider that offers an unbiased selection process and open architecture investment flexibility.
The RightPath401k Plan Philosophy
While many organizations have the ability to offer a wide range of nationally known bundled and unbundled retirement plan service providers, many come with some degree of administrative and investment inflexibility along with hidden fees. In reaction to this potential dilemma, we developed the RightPath Retirement Plan Platform with total investment flexibility and unbiased advice in mind. With over 3,700 mutual funds available on our platform, we have the capabilities to construct investment menus to objectively address plan sponsor needs.
When we are chosen as a new service provider, we work directly with the previous service provider to ensure the accurate and smooth transfer of plan data and assets. Our conversion team will navigate the plan sponsor through the entire plan implementation and conversion process while simultaneously coordinating with the RightPath401k team at ORRGROUP to execute a customized participant awareness, education and investment guidance program.
Participant Service Model
One of the key components of a successful retirement plan is the communication and education process a plan sponsor and its retirement plan service provider utilizes to communicate the benefits of the plan to its participants.
(click to see sample participant statement)
The RightPath Plan approach to participant service means providing employees with the tools they need to empower them to financial success. ORRGROUP's Life Planning process teaches an individual how to focus on financial and personal goals that create financial and physical well-being. Individual participant help and assistance supplemented by group meetings and extensive on-line education give an employee the best opportunity to appreciate and utilize the benefits of the plan.
We will construct a customized communication and education program for your company retirement plan. In addition, we regularly analyze plan demographics to determine what targeted education formats or enrollment strategies may be appropriate and effective.
ORRGROUP will educate participants about basic retirement planning and investment management concepts and is available to discuss individual account-level issues if desired.
Fiduciary Guidance
Due to the volatility of the financial markets, recent mutual fund scandals, and further potential litigation surrounding the financial services industry, never has there been a time when plan sponsors, trustees and plan advisors are under greater scrutiny from regulators and participants. For plan sponsors and trustees, the environment is confusing and potentially perilous from a liability standpoint.
RightPath401k helps minimize risk and effectively deals with the scrutiny currently focused on retirement plan sponsors and fiduciaries. RightPath401k offers:
- An Investment Policy Statement for each plan
- A process for selecting and monitoring available investment options
- Full and complete disclosure of all fees and costs associated with the retirement plan Fee monitoring to ensure the plan is in line with or below industry standards;
- Assistance with employee utilization issues relating to participation, contribution levels, and lack of investment knowledge or confidence. A Certified Financial Planner subject to a fiduciary standard and practices who is committed to a fiduciary code of ethics.
Administrative Services
Sponsors who choose the RightPath401k do
so with the confidence that they are being serviced by experienced
individuals taking full advantage of the convenience and economies of
the latest technologies.
Key Administrative and Recordkeeping Services Highlights:
- 24-hour/7-days-a-week, fully transactional online participant and plan sponsor access; Single point of contact and dedicated client service representative
- Electronic processing of contributions, loan and distribution services; Full-service administrative, testing and reporting capabilities
- Comprehensive on-line management reports detailing plan activity.
