Employer-Sponsored Retirement Plans
Helping employers design and oversee retirement plans that serve both the organization and its employees.
Fiduciary Duty
As a 3(21) fiduciary advisor or 3(38) investment manager, Gaard acts in the best interests of the retirement plan and its participants. In this role, we provide objective investment guidance and apply a disciplined process for evaluating and monitoring plan investments.
How We Add Value
Gaard serves as the plan’s investment fiduciary, overseeing the plan’s investment lineup. We also serve as the plan’s servicing advisor, supporting employers through plan reviews and providing participant education to employees. In this role, we coordinate closely with the plan’s recordkeeper, third-party administrator (TPA), and other service providers to help ensure the plan operates smoothly.
Retirement Plan Services
In coordination with TPAs and recordkeepers, we serve as the plan’s 3(38) investment manager or 3(21) fiduciary advisor and ongoing investment advisor.
Investment Lineup Design
Development of the plan’s Investment Policy Statement and a diversified investment lineup, including a qualified default investment alternative, aligned with the plan’s objectives, participant needs, and fiduciary standards.
Investment Monitoring & Plan Reviews
Ongoing evaluation of the plan’s investments, with regular reviews and timely updates to the lineup as needed.
Participant Education
Education sessions and resources that help employees understand the retirement plan, investment options, and long-term saving strategies.
Provider Coordination
Ongoing coordination with the plan’s recordkeeper, third-party administrator (TPA), and other service providers to support day-to-day plan operations.
Plan Implementation
Support for employers establishing a new retirement plan or transitioning to a new recordkeeper or service provider.
Performance Reporting
Clear reporting that tracks investment performance relative to benchmarks, plan objectives, and long-term goals.
CASE STUDIES
See Our Tailored Investment
Solutions in Action
5 min read
Case Study A:
Establishing a First Retirement Plan
A small business with approximately 20 employees seeking to establish its first employer-sponsored retirement plan as part of its employee benefits program.
Case Study A:
Establishing a First Retirement Plan (3(38) Investment Manager)
IMPORTANT INFORMATION: The case study presented is hypothetical and for illustrative purposes only. It does not represent an actual client, and no representation is made that any investment strategy will achieve similar results. Investment outcomes may vary based on individual circumstances, objectives, and market conditions. All investments involve risk, including the possible loss of principal. Past performance is not indicative of future results.
Organization
A small business with approximately 20 employees seeking to establish its first employer-sponsored retirement plan as part of its employee benefits program.
Challenge
The company had never offered a retirement plan and wanted to provide a competitive benefit without taking on investment responsibility it was not equipped to manage, or adding administrative burden to a small team. Leadership needed help selecting a plan structure, coordinating the right service providers, and offering an investment menu employees could actually understand.
Approach
Gaard served as the plan’s 3(38) investment manager, accepting discretionary responsibility for selecting and monitoring the plan’s investments so the employer did not have to. Gaard helped leadership evaluate plan options and identify an appropriate structure, developed an Investment Policy Statement to govern the investment process, and built a diversified lineup of target-date and core options suited to participants with varying levels of experience. Gaard coordinated implementation with the plan’s third-party administrator (TPA), 3(16) administrator, and recordkeeper, and supported payroll integration so contributions processed accurately. On an ongoing basis, Gaard delivers investment oversight, regular plan reviews, and participant education to help employees engage with their benefit.
Outcome
The company launched its first retirement plan with a structured, professionally managed investment lineup and ongoing 3(38) fiduciary oversight, giving employees access to tax-advantaged savings and giving leadership confidence that investment responsibility was in qualified hands.
5 min read
Case Study B:
Supporting an Established Plan Committee
A larger employer with an established retirement plan and investment committee seeking ongoing fiduciary guidance while retaining final authority over plan decisions.
Case Study B: Supporting an Established Plan Committee (3(21) Advisory)
IMPORTANT INFORMATION: The case study presented is hypothetical and for illustrative purposes only. It does not represent an actual client, and no representation is made that any investment strategy will achieve similar results. Investment outcomes may vary based on individual circumstances, objectives, and market conditions. All investments involve risk, including the possible loss of principal. Past performance is not indicative of future results.
Organization
A larger employer with an established retirement plan and an internal investment committee seeking ongoing fiduciary investment guidance while keeping final authority over plan decisions.
Challenge
The committee wanted to strengthen and document its investment process and give participants better support, but preferred to stay in control of decisions rather than hand them off. They were looking for a retirement plan specialist to serve as an acknowledged co-fiduciary, bring objective recommendations, and help them demonstrate a prudent, well-documented process.
Approach
Gaard was engaged as a 3(21) investment adviser, acting as a co-fiduciary that provides recommendations while the committee makes the final call. Gaard developed an Investment Policy Statement to guide the process, set criteria for evaluating and monitoring investment options, and delivered ongoing recommendations benchmarked against those criteria. Gaard led regular plan reviews, documented committee meetings to support a defensible process, and expanded participant education, while coordinating as needed with the plan’s recordkeeper and TPA.
Outcome
The committee gained a structured, well-documented investment process backed by independent recommendations and monitoring, while retaining full decision-making authority. The plan strengthened its fiduciary process and improved the guidance and education available to participants.
5 min read
Case Study A:
Establishing a First Retirement Plan
A small business with approximately 20 employees seeking to establish its first employer-sponsored retirement plan as part of its employee benefits program.
5 min read
Case Study B:
Solutions for A Professional Services Firm
A mid-sized professional services firm managing multiple pension plans and investable assets looking for a tailored investment strategy.
What is an employer-sponsored retirement plan?
An employer-sponsored retirement plan allows employees to save for retirement through payroll deductions while benefiting from tax advantages. Common examples include 401(k) and 403(b) plans.
What is the difference between a 401(k) and a 403(b)?
Both plans allow employees to contribute to retirement savings through payroll deductions.
A 401(k) is typically offered by private-sector employers, while a 403(b) is commonly used by nonprofit organizations, schools, and certain public-sector employers.
What is the difference between a 3(21) fiduciary advisor and a 3(38) investment manager?
A 3(21) fiduciary advisor provides investment recommendations to the plan sponsor while the employer retains final decision-making authority.
A 3(38) investment manager has discretionary authority to select, monitor, and replace the plan’s investment options and assumes fiduciary responsibility for those investment decisions.
What does a servicing advisor do?
The servicing advisor provides ongoing support to both the employer and plan participants. Responsibilities often include plan reviews with the employer, participant education meetings, investment lineup guidance, and coordination with the plan’s service providers.
What is a recordkeeper?
A recordkeeper provides the technology platform that tracks participant accounts and processes retirement plan transactions. Participants typically access their retirement accounts through the recordkeeper’s website or mobile platform.
What is Form 5500?
Form 5500 is an annual filing required for most employer-sponsored retirement plans that provides information about the plan’s financial condition, operations, and service providers. The filing is typically prepared by the plan’s TPA and submitted to the Department of Labor and IRS.
What are common investment options in a retirement plan?
Retirement plans typically offer a menu of diversified investment options designed to help participants build long-term retirement savings.
Common options include:
- Mutual Funds: Professionally managed investment funds that pool money from many investors to invest in stocks, bonds, or other securities. Mutual funds are the most common investment option offered in 401(k) and similar retirement plans.
- Target-Date Funds: Diversified funds designed for investors planning to retire around a specific year. These funds automatically adjust their asset allocation over time, becoming more conservative as the target retirement date approaches.
- Exchange-Traded Funds (ETFs): Investment funds that trade on an exchange like a stock and typically track a market index. While historically less common in retirement plans than mutual funds, some modern recordkeeping platforms allow ETFs as investment options.
- Collective Investment Trusts (CITs): Pooled investment funds available only in employer-sponsored retirement plans. Similar to mutual funds but often lower in cost, CITs have become increasingly common in 401(k) plans.
Still Have Questions About Us and How We Can Help Your Organization?
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