Services/ 401(k) SERVICES - Overview
PlanWorks® is Allegiant Institutional Service’s innovative 401(k) and retirement plan product that capitalizes on the latest technology and retirement plan research to deliver customized solutions for your business and workforce. As a strategic planning partner with your organization, we provide the expertise and flexibility your retirement plan needs to succeed.
Fiduciary assistance
We’re focused on helping plan sponsors fulfill their fiduciary responsibilities at every stage - from design and conversion to enrollment and investment policy review. Take advantage of our expert service in the following areas to help you meet fiduciary responsibilities.
- Fund selection
- Fund monitoring
- Investment policy review
- Trustee services
Investment flexibility
With our open architecture, you can build your plan’s investment menu with funds from leading investment management companies. Your employees can select funds that suit their savings goals, timeline and risk tolerance.
- Plan sponsors choose funds from 20 fund families and 15 investment styles
- We offer lifecycle and target date funds
- All asset classes are represented in our menu
- Participants select a variety of individual funds
Plan enhancement options
As a strategic planning partner with your organization, Allegiant is looking continually for innovative ways to leverage its technical resources and grow your plan as your business evolves. These optional features are examples of ways to enhance your plan.
- Self-directed account:
- A “high touch” option for more experienced investors
- Provides access to thousands of mutual funds
- Allows investment in individual stocks and bonds
- Roth 401(k):
- An opportunity for tax-free distributions at retirement
- Offers greater rollover flexibility
- Presents an opportunity for tax diversification
- Gives participants the chance to have contributions taxed at current income level
- Participant investment advice:
- Independent, third-party investment guidance
- Managed account services
- EGGTRA rollover solution
- Reduces plan sponsor fiduciary liability exposure related to investment advice
Targeted Communication
Our PlanWorks communication and education programs encourage each employee to think through their savings needs and develop a personal investment strategy. We use an empowerment theme of “the future happens now” to stress the urgency, affordability and ease of saving for retirement.
Our vivid and easy-to-understand print materials include:
- Customized plan handbooks
- Morningstar® fund fact sheets
- Educational booklets
- Employee meeting campaigns
- Multi-topic brochures
- Enrollment forms
- Opt-in enrollment cards
- Quarterly newsletters
We deliver participant education and communication in a variety of ways so we can most effectively address the many needs of your employees and the different ways they access information. Our high-impact tools and personalized resources include:
- Workplace seminars
- Web-based meetings and CD tutorials
- One-on-one consultations
- Phone consultations with independent financial planners
- Electronic articles and meeting reminders
- Easy-to-read statements
- Web site and phone access, 24 hours a day, 7 days a week
- Online tutorials and calculators
Expert administration
Allegiant partners with one of the world’s premier providers for plan recordkeeping and administration. We have an exclusive partnership in our market with Hewitt Associates, a company with 60 years of experience in managing employee benefit plans for many different organizations - including Fortune 500 firms.
Through this relationship, Allegiant provides you with reliable recordkeeping and reporting,
exceptional data access and convenient compliance tools:
- Daily valuation
- Paperless loans
- Vesting tracking
- Phone and Web enrollment
- Investment policy review
- Compliance testing
- Eligibility tracking
- Beneficiary changes
- Other services
We also can share information about industry best practices to help you simplify and automate your plan operations.
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