meridien private briefing

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10 Dorrance St., Suite 524, Providence, RI 02903 Phone: (401) 272-7070 Facsimile: (401) 331-8964 Prepared for: Email: [email protected] www.meridienonline.com 1601 Trapelo Road, Suite 212, Waltham, MA 02451 Phone: (866) 871-9963 Facsimile: (401) 331-8964 Private Briefing Presented By: Meridien Benefits, Inc. April 2010 A sustaining SBANE Partner

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Page 1: Meridien Private Briefing

10 Dorrance St., Suite 524, Providence, RI 02903Phone: (401) 272-7070Facsimile: (401) 331-8964

Prepared for:

Email: [email protected] www.meridienonline.com

1601 Trapelo Road, Suite 212, Waltham, MA 02451Phone: (866) 871-9963Facsimile: (401) 331-8964

Private Briefing

Presented By:Meridien Benefits, Inc.April 2010

A sustaining SBANE Partner

Page 2: Meridien Private Briefing

©2010: Meridien Benefits, Inc. 2

Table of Contents

Section One Our Focus Section Two Meridien Benefits, Inc Section Three Our Services Section Four Employee Education &

Communication Section Five Meridien Tools Section Six Meridien References

Page 3: Meridien Private Briefing

Our Focus

Section One

Page 4: Meridien Private Briefing

©2010: Meridien Benefits, Inc. 4

Our Focus

Non-Qualified Plans Meridien Benefits, Inc. is a leader in the conceptual design, financial

performance analysis and product negotiation of bank owned life insurance and corporate owned life insurance used as a financial vehicle to fund executive benefit programs and other non-qualified, employer sponsored benefit plans.

Qualified Plans Meridien Financial Group, Inc. is a leading source for qualified, employer

sponsored retirement plans.– Proprietary Process for analyzing and enhancing retirement plan systems.

Life Disability and Business Insurance Insurance for individuals and corporations. Corporate Insurance for Businesses to protect Key Employees and Business

Interests

Page 5: Meridien Private Briefing

Meridien Benefits

Section Two

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©2010: Meridien Benefits, Inc. 6

Meridien’s Timeline

1975Meridien founded as operating company for sales and service of life insurance products to corporations and affluent individuals.

Meridien co-founded New England Trust Company. In just 10 years assets under management grew to over $1 billion. Sold to First of America (National City Bank).

1980Pension Services, Inc. founded as wholly-owned subsidiary to provide actuarial, administrative, record-keeping and comparative services for over 500 qualified retirement plans.

1982Meridien Financial Group, Inc. formed. A FINRA Broker-Dealer focused in asset gathering for 401(k) and other qualified retirement plans.

1990 - 2009Firm becomes member of the M Financial Group.

1997Firm perfects its proprietary process for 401(k) system(s) asset gathering.

2000Firm’s 401(k), investment assets and insurance assets under management exceeds $500 million.

2005 to presentMeridien Benefits is endorsed by SBANE as its 401(k) provider.

2007Meridien Team is selected by Plan Sponsor Magazine as one of the “Best of the Best” and most successful retirement plan advisers in the nation.

2009Attained 98% retention rate of corporate Client

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©2010: Meridien Benefits, Inc. 7

Over 30 years of Qualified Retirement and Executive Benefit plan experience.

Providing services to over 400 corporate clients. Developed proprietary plan provider selection and monitoring process

for plan sponsors. Custom communications programs for executives and employees,

including announcement letters, educational seminars and one-on-one informational meetings.

Client advocate for plan sponsors. Dedicated Design, Installation and Service teams. Ongoing Client Relationship Managers. A leader in the conceptual design, financial performance analysis and

provider negotiation for non qualified plans.

Meridien Benefits, Inc.

Qualified & Non Qualified Plans

Page 8: Meridien Private Briefing

©2010: Meridien Benefits, Inc. 8

Corporate Structure

Marketing Service

Support Staff

Licensed Marketing

Professionals

Relationship Managers

Support Staff

Operations

Financeand InformationTechnology

Support Staff

Meridien Benefits – Human Resources

Page 9: Meridien Private Briefing

Our Services

Section Three

Page 10: Meridien Private Briefing

©2010: Meridien Benefits, Inc. 10

Non-Qualified Plan Types Executive Compensation and

Benefit Consulting and Analysis

Supplemental Executive Retirement Plans (SERPs)

Employee Voluntary Salary Deferrals

Executive Benefit Swaps 401(k) Restoration Plans Split Dollar Plans/Alternative

Loan Method

Our Services

Non-Qualified Plans

Qualified Plan Types 401(k) 403(b) 457 Pension Profit Sharing Prevailing Wage Safe Harbor Plans

Some of the services that we may provide you include:

Qualified Retirement Plans

Page 11: Meridien Private Briefing

Employee Education & Communication

Section Four

Page 12: Meridien Private Briefing

©2010: Meridien Benefits, Inc. 12

Typical Plan Selection Process

Fact Gathering (Client Wish List)•What’s working?•Any concerns?

CustomDesign

Plan

ContactProviders/

Carriers

Analysis of:•Investments•Education Process•Communications•Plan Technology•Recordkeeping•Compliance Process•Plan Costs

SelectFinalists

ClientPresentation

&Provider Tours

(as applicable)

What we do:

Page 13: Meridien Private Briefing

©2010: Meridien Benefits, Inc. 13

Employee Communication Program

Meridien will offer a Communication Program

1. Design custom announcement letters2. Conduct group enrollment meetings 3. Meeting with executives and leadership team4. Ongoing enrollment meetings (as needed)5. Individual enrollment meetings at each location (as needed)6. Enhanced employee communication/education materials7. Customized enrollment kits8. On-line and phone enrollment services

(subject to investment system)

8. Annual update meetings9. Assist with investment monitoring and benchmarking10. Client Advocacy & Relationship Management11. Asset Allocation Workshops

Page 14: Meridien Private Briefing

©2010: Meridien Benefits, Inc. 14

Employee Education Process

Step 1Goals

Meeting to determine goals.

Step 2Action

Plan

Meridien develops custom communication program along with specialist at provider (i.e. dedicated communication Specialist).

Custom Group Meeting Presentation

Custom Announcement Letter

Manager and Key Employee

Group Meetings

Selection of Employee

Enrollment Materials

One-on-One Enrollment Meeting

Step 3Ongoing Education

Asset Allocation Workshops

Educational Workshops

How to Read Statements

Internet Access Seminars

Announcement of any Fund Changes or Enhancements

of Investment menuReplacement of Under

PerformingFunds

Personalized assistance for

executivesGarner Support

for New Plan

Online and information

brochures: i.e. Diversification Re-balancing Understanding

Benchmarks Investor Risk

Ongoing Enrollment Support

Group and One-on-One enrollment

Page 15: Meridien Private Briefing

©2010: Meridien Benefits, Inc. 15

Plan Review Process

Annual Retirement Plan Review Comprehensive review

Semi-annual (or Annual) Investment Reviews Benchmarking investments options

o Fund Performance/Risko Style-driftingo Investment Expenseso Management changeso Other

Fund “Watch-list”

Comprehensive Analysis & Fiduciary Review (as needed) Ongoing enhancements through the Meridien Service Model

Page 16: Meridien Private Briefing

Meridien Tools

Section Five

Page 17: Meridien Private Briefing

Meridien Tools

Investment Policy Statement Investment Policy Questionnaire

Plan Sponsor Report Card Pathfinder Report Meridien Score Card Morningstar Analysis Provider/Carrier System

17©2010: Meridien Benefits, Inc.

Page 18: Meridien Private Briefing

©2010: Meridien Benefits, Inc. 18

Current Plans XYZ Investment Company Servicing Review as of January 1, 2010

Category Score

Timeliness of Employer & Employee Statements 2

Plan Testing Efficiencies 2

General Ease of Plan Administration 4

Investment Performance and Expenses 4

Participant Requests (Terms, Loans, Other) 2

Relationship Manager’s responsiveness to Employer/Employee questions 2

Account Access: Plan Sponsor Processing: Payroll / Other Participant Website & VRU Access

422

Preparation of Form 5500 2

Plan Auditing / Audit Package 2

Plan Amendment Process 1

Compliance Services & technical Assistance 2

Educational/Enrollment/Investment materials 3

Employee Group Meetings 3

As rated by ABC Company’s Human Resources Department 5, on a scale from 1 (best) to 5 (poorest).

ABC, Inc.Score:

2.47

PerfectScore:

1.00

MeridienGoal:2.00

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Comprehensive Plan Administration , Service and Support Yes No Maybe1) Do you have difficulty contacting your plan provider?

2) Is your plan provider always available to provide quick, accurate answers to your routine questions?

3) Are communications with your plan provider always clear and concise?

4) Are you and your staff spending time answering employees' questions because certain areas weren’t

thoroughly covered in your retirement plan enrollment sessions?5) Do you have a clear understanding of how your plan administration fee schedule operates?

6) Are your plan reports timely and accurate?

Plan Design and Compliance Yes No Maybe

1) Are you getting the desired level of participation in your retirement plan by your employees?

2) If your plan allows participants to direct the investment of their own accounts, is your plan designed

to comply with ERISA section 404(c) so that the plan fiduciary may be relieved of fiduciary responsibility for the participant's investment?

3) Is the plan designed to reward and retain your most valuable employees?

4) Does your plan provider keep you informed of the latest changes in legal requirements

and IRS and DOL regulations?5) Does your plan provider communicate to your company on how these changes

impact your retirement plan ?6) Does your plan provider assist you in resolving plan compliance issues?

7) Has your plan been amended and filed with the IRS to meet the requirements of recent legislative

Retirement Plan Questionnaire

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©2010: Meridien Benefits, Inc. 20

Retirement Plan Questionnaire

Investment Expertise and Performance Yes No Maybe1) Are you satisfied with the return your investment portfolio is earning?

2) Are you fully aware of the quality of your investments in your plan today?

3) Does your plan offer you a guaranteed interest account?

4) Do your employees ever express concern over the investment options offered in your plan?

5) Does your plan provider clearly communicate investment performance to you and plan participants

as well as make this information readily available?6) Does your plan provider give you a sample Investment Policy Statement to assist you

with your fiduciary obligations?7) Do you know what your fiduciary responsibilities are in choosing plan investments?

8) Do you feel confident in the financial strength and stability of your plan provider?

Employee Communication Yes No Maybe1) Are you confident that your employees clearly understand the provisions of your company's

retirement plan?2) Is it costly for you to communicate retirement plan information to your employees?

3) Do you offer employees a retirement plan workshop or meeting that is customized to your plan?

4)Do you use a newslatter or a specialized web site to promote the value and benefits of your

retirement plan to your employees?5) Does your plan provider offer retirement planning information, educational materials and

workshops for your employees?6) Does your provider conduct periodic employee meetings to provide ongoing information

about your company's retirement plan, legislative changes affecting retirement plans, or retirement planning in general?

Page 21: Meridien Private Briefing

1) Current Plan Document with all Amendments 2) Summary Plan Description (SPD) 3) Plan Adoption Agreement (if applicable) 4) I.R.S. Determination Letter 5) Current Provider Service Agreement (if applicable) 6) Latest Investment Valuation (assets by investment option) 7) Previous two years Form 5500 with Schedules 7) Administration Fee Schedule or past plan year's invoices 8) Recent Enrollment Booklet/Kit

Retirement Plan Comprehensive Analysis Required Items

Following is a checklist of items that will enable us to provide you with an accurate retirement plan system comparison. Please provide us with as many of the following as possible:

Page 22: Meridien Private Briefing

Meridien References

Section Six