How we work – Educate, Guide & Serve
These are the principles Horizon Resources was founded on. Our goal is to EDUCATE plan sponsors on issues that are relevant to them. These issues include:
1. fiduciary best practices
2.
how providers price their services
3. how to benefit from the undisclosed revenue providers may be receiving
4. features available that are consistent with the companies goals and objectives for the plan.
We provide GUIDANCE and direction to plan sponsors. This requires a complete understanding of the goals and objectives the sponsor has for the plan. We are then able to make recommendations to ensure the plan program is moving toward those goals.
Ongoing, efficient and friendly SERVICE is provided to our plan sponsors and participants. Horizon Resources takes an active role in the management oversight of the plan. We act as a catalyst for the success of your 401k plan program by:
1. reviewing documents
2. drafting employee notices
3. individual participant assistance
4. keeping sponsors abreast of legal, administrative and industry trends
Results
We have helped numerous plan sponsors in creating a successful 401k plan program. Here is just one of the ways we have helped clients.
National Manufacturing Company
As fiduciary oversight became a common-place discussion among plan sponsors in the early 2000s, the 401k committee became concerned that their only advice was coming from the plan sponsor and thus may not be objective. These concerns were well founded. Plan provider’s conflicts of interest typically prohibit them from serving as a fiduciary with the committee. “The plan is free” was the answer when the committee asked about fees. After an analysis, it was confirmed that the plan provider was receiving in excess of 3x the competitive fee for a plan of this size and demographics. There was also no investment policy in place and no clear documentation of how the provider or investments were selected.
Horizon Resources conducted a request for pricing (RFP) and negotiated a 66% decline in record keeping fees and approximately a 25% decline in investment expense for participants. Horizon Resources also drafted an investment policy statement that resulted in reduced fiduciary liability. |
Now that you know how we work, learn more about which are right for you.
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