Plan design consulting adapts and implements regulatory permissible and proven features and strategies that enhance the desired outcome of the retirement plan. The quality of any plan begins with ensuring the plan’s objectives are clearly articulated. Optimum outcome cannot be achieved unless the needs of both the Plan Sponsor and the Plan Participants are taken into consideration in plan design.  Moreover, ERISA requires that Plan Fiduciaries operate for the sole benefit of the Plan Participants and beneficiaries.  

Focus on Better Outcomes


At Chao & Company we have an obligation to create a program that addresses the needs of the entire employee population which requires a detailed look at the demographic makeup of the Plan Sponsor. For too long, advisors have been focusing on portfolio return for defined benefit plans and picking the best of breed investment choices that have delivered the highest returns.  This emphasis we believe is misplaced.  The purpose of any retirement plan should be to optimize the probability for as many participants as possible to reach retirement with a reasonable income replacement ratio for life.  This income replacement outcome emphasis is far more important than attempting to realize the highest return year after year.
 

Focus on Better Solutions


Broad, thoughtful, and sincere conversations with our clients form the foundation from which we build and counsel. There is no room for preconceived ideas. Rather, a consultative, customized approach is taken to develop solutions that meet clients’ goals, objectives and expectations. This depth of process results in a focus on solutions, not products.
 

The process is to review, analyze and execute a plan focused on meeting the desired outcomes of our Plan Sponsor clients, and strategies are developed for each component of the plan:

Plan Design Consulting Strategies