• Total Transparency

    A plan with no secrets

  • Fiduciary Support

    Plan sponsor protection

  • Employee Engagement

    Participant tools and guidance

  • Easy access and use

    Participant tools and guidance

Total Transparency

A plan with no secrets

Fiduciary Support

Plan sponsor protection

Employee Engagement

Participant tools and guidance

Integrated Technology

Easy Access and Use

Greater Employer Value

Better Participant Results

Creating Better Participant Outcomes

INVESTMENT OPTIONS

INVESTMENT OPTIONS

Investment options offered to retirement plan participants should meet three basic objectives; 1) Provide diversification across all primary asset classes, 2) Match personal risk tolerance levels, and 3) Empower participants to make investment choices with a high degree of confidence. 4) In addition to individual funds, we provide five separate allocated portfolios matched to employee investor profiles.

Guidance & Advice

Guidance & Advice

Most retirement plan participants eagerly seek guidance regarding their retirement accounts. True guidance is more than simply providing online calculators and generic financial concepts brochures. Your retirement plan should help guide employees through any number of retirement related concerns, such as income replacement, social security, college loans, healthcare expenses and work after retirement.

EMPLOYEE ENGAGEMENT

EMPLOYEE ENGAGEMENT

If employees are not interested in or informed about the benefits of every feature of your retirement plan, your plan and your company will not maximize the return on plan expense. Additionally, employees will not achieve best outcomes and enhance their “Retirement Readiness.” …
We engage plan participants in a personalized retirement journey

The OpenPlan™ Value Formula

Flexible Investment Choice

We utilize our disciplined fund selection methodology and open architecture investment platform to provide the investment flexibility that plan sponsors and participants need in order to maximize retirement plan results. In addition to diversification across all primary asset classes, we provide five separate diversified asset-allocation portfolios.

Low Investment Fees

Lower fees mean more value for plan participants and sponsors. The OpenPlan™ Investment Selection Process delivers enviable plan cost efficiency. Our use of “institutional” share classes and quantitative scoring ensures the lowest fund expense ratios possible. We do not accept investment fund “revenue sharing” arrangements that add to total fund fees.

Objective Fund Analysis

OpenPlan™ applies a strictly quantitative fund screening discipline to build and maintain well-rounded investment lineups containing “best-in-class” funds. Our screening process incorporates the fi360 Fiduciary Score™ Criteria comprised of eleven specific analytical and qualitative measures. Fi360 is an independent fiduciary analyst and founding member of CEFEX (Center for Fiduciary Excellence).

Constant Due Diligence

In addition to providing quarterly fund performance benchmark reports, The OpenPlan™ Due Diligence Process focuses on the “prudent man” and “prudent practices” requirements for plan sponsors. We constantly evaluate the “Retirement Readiness” status of plan participants, level of fee transparency and compliance with the plan’s Investment Policy Statement (IPS).

Service Not Product

OpenPlan™ does not represent any particular mutual fund company, insurance company or bank. We do not have a “product” that fits the needs of every potential client that we meet. We have no proprietary interest in any specific investment funds or bundling of service and products.

What we have is a definite process and commitment to explore, analyze and provide our “best response” to the circumstance of each plan sponsor that we engage.  In short, we are “open” to any “plan” that best serves our client and benefits their employees.

Total Transparency

Perhaps the most difficult task for a plan sponsor is determining “who gets paid what” in his retirement plan structure. Terms like “sub T/A”, “12(b)-1” and “shareholder servicing” fees can be almost indecipherable for the typical plan sponsor.

OpenPlan™ provides clear and precise disclosure of the responsibilities and compensation for every entity involved in each retirement plan that we provide. We do not solicit revenue sharing or wrap fee arrangements. If specific investment fund companies provide revenue sharing compensation, OpenPlan™ will credit the amounts to plan sponsor or plan participant accounts.

Investment Selection

OpenPlan™ employs a highly disciplined investment fund selection process. Our first objective is to provide investment diversification for plan participants across all the primary asset classes. Our second objective is to provide the highest quality of fund choice within each asset class, based on fund investment discipline, management style, financial performance and fees.

We also provide a propriety group of Investment Plan Models made up of the funds in each retirement plan to provide maximum diversification and asset allocation for plan participants.  They can select a model that matches their investment temperament and avoid the chore of trying to pick the “winners” from a lengthy list of investment funds.

Effective Technology

OpenPlan™ provides technology that actually accomplishes something. We streamline plan administration through payroll integration that eliminates redundancy, ensures timely deposit of contributions and posting to participant accounts. We provide a mobile app that allows participants to monitor their accounts on a 24/7 basis.

As part of the participant self-service online portal, OpenPlan™ provides an extensive array of online tools providing participants with planning guidance and advice. In fact we provide a registered invest advisor function that advises participants regarding investment selection and coordinates with the participant fund portfolio on a real-time basis by executing fund changes and asset-allocation rebalancing.

Effortless Plan Management

OpenPlan™ makes retirement plan administration easy. We integrate with payroll for participant data and contributions on an automated transmittal basis. We provide complete onboarding for new plan participants and we administer the participant loan, distribution and in-service withdrawal process. We can implement an auto enrollment feature to increase participation.

We recognize that the plan sponsor is more interested in managing the company than the retirement plan, so we provide a complete package of plan management functions, including quarterly investment reviews, distribution of required plan documents and disclosures along with signature ready annual compliance documents.

Employee Engagement

If employees are not interested in or informed about the benefits of every feature of your retirement plan, your plan and your company will not maximize the return on plan expense. Additionally, employees will not achieve best outcomes and enhance their “Retirement Readiness.” In order to fully engage plan participants on your behalf, OpenPlan™ provides interactive participant onboarding, group enrollment sessions, educational webinars and regular participant directed publications.

OpenPlan™ also provides training and guidance in the use of participant resources such as our online “AdvicePlus” planning tool and coordination of retirement plan accounts with other personal assets. We engage your employee to view the retirement plan as a lifestyle enhancement resource.

Plan Sponsor Protection

OpenPlan™ provides several unique resources to help ensure that plan sponsors are in compliance with the myriad of responsibilities faced by retirement plan sponsors. First, we conduct an annual SAFE (Self- Assessment of Fiduciary Excellence) audit documenting that the plan has met fiduciary obligations to collect and distribute essential plan information and disclosures as well as manage plan operations to an acceptable standard.

Second, we provide an annual plan Benchmark report comparing plan expenses and plan operations to a comparable peer group of retirement plans. We also provide quarterly investment monitoring and benchmarking reports utilizing the data and methodology of fi360, an independent fiduciary data and consulting firm.

Third, our proprietary SponsorGuard™ program provides essential fiduciary support functions as well as offering fiduciary liability insulation by assuming the plan sponsor obligations under sections 3(16) and 3(38) of ERISA.

OpenPlan™ Advantages

Ride The Wave

The “Four Wave” Theory of Retirement Plan Efficiency

Wave I: 1982. The 401(k) plan is born. Plan funding was typically a single investment fund family and proprietary investment products. Mutual fund shares traded on the “T + 5” basis, meaning participant account values were updated five days after the fund purchase date.

Wave II: 1987. The emergence of multi-manager group annuities. This multi-manager concept provided better investment choices by offering “core competency” funds. This approach provided “daily valuation” for mutual fund shares held in plan participant accounts.

Wave III: 1997. Open architecture begins. This more efficient infrastructure reduced fees and permitted independent retirement plan service providers and consultants to deliver more efficient retirement plan programs.

Waive IV: 2010. Open architecture investment and recordkeeping platform is integrated with extensive fiduciary support. OpenPlan™ pioneers combining freedom of investment choice with its inclusive SponsorGuard™ fiduciary protection. Maximum efficiency is achieved for retirement plan sponsors through total integration of investment choice, participant services and fiduciary support.

Avoid The Whipsaw

Many retirement plan sponsors have been subject to “window-dressing” marketing practices employed by various investment providers, insurance companies in particular, intended to enhance the perceived performance of their products.

In order to improve the projected investment performance for funds bundled into retirement plan packages, underperforming funds previously included in the package are replaced by more attractive “hot” funds. Thus the historical performance that you see is artificially distorted.

The corollary to window-dressing is “whipsaw.” Whipsaw occurs when a replaced fund begins to outperform the new replacement fund. This is actually a very common occurrence. This whipsaw is transparent to the plan sponsor because there is no means to compare the actual performance track of the two funds.

The OpenPlan™ investment selection and monitoring process limits the potential for whipsaw by focusing on high performance institutional investment funds with no revenue sharing. Thus when an investment fund is replaced (an infrequent occurrence) the reasoning is crystal clear and entirely based on objective criteria.

Service Not Product

OpenPlan™ does not represent any particular mutual fund company, insurance company or bank. We do not have a “product” that fits the needs of every potential client that we meet. We have no proprietary interest in any specific investment funds or bundling of service and products.

What we have is a definite process and commitment to explore, analyze and provide our “best response” to the circumstance of each plan sponsor that we engage.  In short, we are “open” to any “plan” that best serves our client and benefits their employees.

Total Transparency

Perhaps the most difficult task for a plan sponsor is determining “who gets paid what” in his retirement plan structure. Terms like “sub T/A”, “12(b)-1” and “shareholder servicing” fees can be almost indecipherable for the typical plan sponsor.

OpenPlan™ provides clear and precise disclosure of the responsibilities and compensation for every entity involved in each retirement plan that we provide. We do not solicit revenue sharing or wrap fee arrangements. If specific investment fund companies provide revenue sharing compensation, OpenPlan™ will credit the amounts to plan sponsor or plan participant accounts.

Investment Selection

OpenPlan™ employs a highly disciplined investment fund selection process. Our first objective is to provide investment diversification for plan participants across all the primary asset classes. Our second objective is to provide the highest quality of fund choice within each asset class, based on fund investment discipline, management style, financial performance and fees.

We also provide a propriety group of Investment Plan Models made up of the funds in each retirement plan to provide maximum diversification and asset allocation for plan participants.  They can select a model that matches their investment temperament and avoid the chore of trying to pick the “winners” from a lengthy list of investment funds

Effective Technology

OpenPlan™ provides technology that actually accomplishes something. We streamline plan administration through payroll integration that eliminates redundancy, ensures timely deposit of contributions and posting to participant accounts. We provide a mobile app that allows participants to monitor their accounts on a 24/7 basis.

As part of the participant self-service online portal, OpenPlan™ provides an extensive array of online tools providing participants with planning guidance and advice. In fact we provide a registered invest advisor function that advises participants regarding investment selection and coordinates with the participant fund portfolio on a real-time basis by executing fund changes and asset-allocation rebalancing.

Effortless Plan Management

OpenPlan™ makes retirement plan administration easy. We integrate with payroll for participant data and contributions on an automated transmittal basis. We provide complete onboarding for new plan participants and we administer the participant loan, distribution and in-service withdrawal process. We can implement an auto enrollment feature to increase participation.

We recognize that the plan sponsor is more interested in managing the company than the retirement plan, so we provide a complete package of plan management functions, including quarterly investment reviews, distribution of required plan documents and disclosures along with signature ready annual compliance documents.

Employee Engagement

If employees are not interested in or informed about the benefits of every feature of your retirement plan, your plan and your company will not maximize the return on plan expense. Additionally, employees will not achieve best outcomes and enhance their “Retirement Readiness.” In order to fully engage plan participants on your behalf, OpenPlan™ provides interactive participant onboarding, group enrollment sessions, educational webinars and regular participant directed publications.

OpenPlan™ also provides training and guidance in the use of participant resources such as our online AdvicePlus” planning tool and coordination of retirement plan accounts with other personal assets. We engage your employee to view the retirement plan as a lifestyle enhancement resource.

Plan Sponsor Protection

OpenPlan™ provides several unique resources to help ensure that plan sponsors are in compliance with the myriad of responsibilities faced by retirement plan sponsors. First, we conduct an annual SAFE (Self- Assessment of Fiduciary Excellence) audit documenting that the plan has met fiduciary obligations to collect and distribute essential plan information and disclosures as well as manage plan operations to an acceptable standard.

Second, we provide an annual plan Benchmark report comparing plan expenses and plan operations to a comparable peer group of retirement plans. We also provide quarterly investment monitoring and benchmarking reports utilizing the data and methodology of fi360, an independent fiduciary data and consulting firm.

Third, our proprietary SponsorGuard™ program provides essential fiduciary support functions as well as offering fiduciary liability insulation by assuming the plan sponsor obligations under sections 3(16) and 3(38) of ERISA.

I HAVE MANY QUESTIONS. PLEASE HAVE AN OPEN PLAN REPRESENTATIVE CONTACT ME

Total Transparency

The fundamental component in every great business relation is trust. The primary condition that leads to such trust is “transparency.” When your retirement plan operates with a high level of transparency, the inherent business bargain between plan sponsor and plan participant is enhanced through recognition of a common goal – a successful retirement outcome for every employee.
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Fiduciary Support

The SponsorGuard™ plan sponsor support program was developed exclusively for retirement plans enrolled in the OpenPlan™ retirement plan platform. SponsorGuard™ provides a comprehensive level of retirement plan sponsor support activity at no charge.
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Employee Engagement

The vast majority of retirement plan participants are not actively engaged in leveraging their retirement plan as planning vehicle. The underlying reason is that plan participants have simple communication needs – but typical retirement plan communication materials are technical and complex. OpenPlan™ creates positive plan participant engagement and provides the guidance they seek by applying fundamental “adult learning” concepts.
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Integrated Technology

Like any structure designed to stand the test of time, OpenPlan™ is built on a sound foundation. Combining the industry leading OmniPlus Recordkeeping System with the innovative Alerus Retirement Solutions website portals, OpenPlan™ delivers an outstanding menu of integrated technology tools and support systems for both plan sponsors and plan participants.
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