Our Process
Employers have a fiduciary responsibility to oversee and manage their company sponsored retirement plan. Many plan sponsors do not fully understand or adhere to these important regulations.
The cornerstone six-step process guides your fiduciary responsibility. Our disciplined approach ensures your retirement plan meets all DOL/ERISA and IRS standards.
During the discovery meeting, we gain an understanding of your organization and culture. With this valuable feedback, we help you clearly define the goals and objectives of your retirement plan.
We gather necessary documentation to provide a comprehensive plan review. Our process includes a review of the following:
-
Participant Education and Engagement
-
Retirement Plan Design
-
Fund Expenses
-
Administrative Costs
-
Plan Features
-
Compliance Procedures
In collaboration with your team, we consider options such as the following:
-
Participant Eligibility
-
Enrollment Features
-
Employer Contributions
-
Matching and Vesting Schedules
As an independent advisor, Cornerstone has access to leading providers in the retirement plan industry. In our bench-marking process, we request and review proposals for every element of your plan. We compare the features and costs of your existing and proposed providers.
We guide you in the selection of service providers for the plan. In some cases you may remain with your current provider. We manage every element of the process including transitions.
Cornerstone monitors investments, fiduciary compliance and participant outcomes. We lead investment committee meetings and store all plan documentation in a cloud based vault. Our disciplined process strives to ensure that your plan is compliant with DOL and ERISA regulations.
Understanding Service Providers
Our advisors review and evaluate every component of your plan. We illuminate the functions and costs of each service provider. We provide complete transparency so you can make educated and informed decisions.
In order to provide proper fiduciary oversight, you should understand the roles of the following parties: