Even with its $8,500,000 retirement plan, the concrete and construction services company could not get its 401(k) provider to meet with the majority of its employees, who were usually on the job at nearby construction sites rather than in the office. “It’s not the way we prefer to do it,” said the plan provider, a large national firm. What a pain. Yet, as unhappy as the company was, it hesitated to move its plan elsewhere. Too much anxiety about something going wrong, too little understanding of what a move entailed, and much too busy to assign one of its executives to the task. So there it sat, with low participation rates and even lower enthusiasm, until the company’s CFO had finally had enough. “Who do you like and recommend?” he asked business acquaintances, whereafter one name emerged as the most reliable, most trusted and most attuned to client needs: Greenleaf Trust.
The plan conversion went off without a hitch. In our fiduciary capacity, we reviewed and recommended fund selections, provided transparency in our fee structure, handled all paperwork and filings, and—to the company’s great relief—traveled to numerous job sites to meet with every employee. In short order, plan participation increased 50% and employee appreciation increased immeasurably.
We’re the first to say not every retirement plan has such a storybook ending. But with client satisfaction rates approaching 100%, and our unwavering focus on integrity and trust, it is safe to say one’s employees might whistle while they work. To learn more about how Greenleaf Trust can help you help your business give us a call. There’s everything to gain and nothing to lose, except a headache.