Zuna is a Registered Investment Advisor (RIA) providing clients with tailored 401(K) and Employee Benefit solutions in the Wealth and Investment Management arena.
Why is it important? Having the proper options for employees participating in the 401(k) plan is critical. A proper lineup should provide opportunities for each participant to invest depending on their risk tolerance levels. Failure to follow your plan documents and regulatory procedures can lead to legal action along with additional contributions being made to the plan on participants behalf. Additionally, these types of failures can result in fines and penalties.
Comprehensive 401(k) Consulting Services
Diagnostics
• Compare the existing retirement plan document with the Plan’s operations to ensure compliance
• Evaluate the design of the retirement plan and ensure it aligns with your goals and objectives
• Review all service agreements and benchmark services and pricing to industry averages
•Analyze all the retirement plan investments and provide a comprehensive scorecard for each investment
• Review employee education and communication resources (existing vs. future goals)
• Review operational processes for managing the retirement plan to determine potential areas of risk
• Deliver a Retirement Plan Diagnostic report including the above information along with the recommendations for changes and a proposed road map
Fiduciary Governance
• Provide plan governance documents including investment policy statement and fiduciary committee charter
• Conduct ongoing fiduciary training and provide regulatory updates for the Plan’s fiduciary committee
• Attend periodic meetings with the fiduciary committee
• Prepare meeting agendas and draft minutes for fiduciary committee meetings
Employee Enrollment Support
Individual and group meetings to educate new hires and existing employees. Sessions will be a mix of 401(k) and other financial wellness topics. Ongoing employee support can be facilitated on site, via phone, email or video.
Operations + Compliance
• Ensure ongoing compliance with annual comparison of the Plan document with Plan operations
• Oversight of plan design to align with Plan objectives
• Perform annual review and benchmarking of services, fees, and overall value of the Plan’s service providers
• Assist with tracking and coordinating day-to-day plan operations
• Assist with review of required regulatory notices and coordinate distribution across multiple service providers
• Update and maintain an online portal to share documents between ZUNA and Client to assist with an “audit ready” file
• Provide unlimited call support related to plan governance, operations, service providers and investments
Investment Selection + Monitoring
• Select and monitor Plan’s default investments
• Score and periodically report on fund line up
• Perform and document a QDIA (Qualified Default Investment Alternative) selection process aligned with Department of Labor (DOL) best practices
• Provide additional screens for ESG (Environmental, Social, Governance) considerations (if desired)
• Serve as ERISA Section 3(38) investment manager
• Scoring and quarterly reporting on the Plan’s mutual fund line up
Employee Engagement
Why is it important? You provide this benefit to your employees to help them retire, we help them to better understand the benefit and how they can best take advantage of it for their unique perspective.
We believe smart choices today will lead to better options in the future.
Financial Literacy Programs
Assist with designing and coordinating employee engagement programs utilizing ZUNA and other provider resources (e.g., educational events and seminars, onsite one-on-one meetings with employees; online financial planning tools; etc.). Subject matter will vary based on desires of the Employer and Employee population.
Success Stories
Payroll and 401(k)
A promise of “integrated” Payroll to 401(k) resulted in compliance errors and inaccurate funding.
Employee Education
Retirement Plans are only as good as the Employees who participate in them.
Investment Menu
An investment menu is most optimal when focused on easy-to-understand products, low cost and limited risk.