meridien private briefing
TRANSCRIPT
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
©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
Our Focus
Section One
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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
Meridien Benefits
Section Two
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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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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
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Corporate Structure
Marketing Service
Support Staff
Licensed Marketing
Professionals
Relationship Managers
Support Staff
Operations
Financeand InformationTechnology
Support Staff
Meridien Benefits – Human Resources
Our Services
Section Three
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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
Employee Education & Communication
Section Four
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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:
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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
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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
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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
Meridien Tools
Section Five
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.
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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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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?
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:
Meridien References
Section Six
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Representative Client List