From tool and die to retool and thrive.

Enough is enough, concluded the CFO of the tool and die company; the fees being charged by its bank had increased one too many times. The account was moved to a smaller bank that provided relief in all but one important area: it had no trust department to manage the company’s 401(k) retirement fund. Wisely, the CFO appointed an internal team to assess six retirement plan service providers in terms of customer service, fees, methodology, transition planning, employee education, technology, portfolio composition, investment management, independence, references, conflicts of interest, likability, etc. With over 200 employees and a nearly $20,000,000 plan, the company had good reason (not to mention its legal, fiduciary obligation) to carefully weigh its options.

As in all competitions, a winner emerged. Greenleaf Trust’s winning edge may have been the clear and thorough detail about how we invest and manage a plan’s assets, identifying the specific mutual funds we select and why. Or perhaps it was our continuous assessment of each fund’s performance and suitability, and our transparency about fees. Or maybe it was how we minimize the inconvenience and duration of a plan’s transition, and take on responsibility for modifications and mandated filings. Or that we meet regularly with employees (and spouses) to educate them on the necessity and benefit of setting aside money for retirement. Chances are, it was all of those things and more.

Every company has its own story to tell, of course, but with Greenleaf Trust as the plan provider some things never change: employee participation improves, contributions go up, asset values increase and smiles reappear. Everyone, it seems, likes a happy ending. Call us and let’s get started on yours.

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True Story

The CFO’s heart was in the right place, which told her the company’s 401(k) plan was not.

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