Responding to COVID-19: Retirement Plan Design, Fiduciary Best Practices, and Employee Financial Wellbeing Considerations

Thursday, May 21, 2020
11:00am – 12:00pm EST

COVID-19 continues to have a significant impact on the nation and economy. Market volatility, organizational sustainability, and employee financial resilience are a few of the specific challenges plan sponsors face with regards to their retirement programs. The responsibilities to manage fiduciary risk and evaluate plan design alternatives are constrained by time and resources now dedicated to other business-related decisions addressing COVID-19. As an organization and committee, now is a critical time to ensure you’re maintaining prudent review and decision making processes. This means reviewing the right information to make plan design decisions that control expenses and cash flow while also considering participant impact and ensuring your employees have access to resources that can help them make financial decisions in a stressful environment.

During this webinar, Gallagher’s Retirement Plan Consulting team will present solutions that can help sponsors tackle challenges and face the future with confidence by:

  • Exploring how retirement plan fiduciaries can effectively manage prudent decision making, including investment review and decisions for defined contribution and defined benefit plans. According to Gallagher’s 2019 Retirement Pulse Survey, only 13% of employers use a fiduciary under section 3(38), increasing organizational risk
  • Understanding which components of your plan design impact expense and provide cash flow flexibility along with how the CARES Act is impacting plan health
  • Identifying the financial wellbeing resources most needed to help employees navigate these financially stressful times while planning for better days ahead

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Gallagher Benefit Services, Inc., a subsidiary of Arthur J. Gallagher & Co., (Gallagher) is a non-investment firm that provides employee benefit and retirement plan consulting services to employers. Securities may be offered through Kestra Investment Services, LLC, (Kestra IS), member FINRA/SIPC. Investment advisory services may be offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. Certain appropriately licensed individuals of Gallagher are registered to offer securities through Kestra IS or investment advisory services through Kestra AS. Neither Kestra IS nor Kestra AS are affiliated with Gallagher. Neither Kestra IS, Kestra AS, Gallagher, their affiliates nor representatives provide accounting, legal or tax advice.

This material was created to provide accurate and reliable information on the subjects covered, but should not be regarded as a complete analysis of these subjects. It is not intended to provide specific legal, tax or other professional advice. The services of an appropriate professional should be sought regarding your individual situation.


For Institutional Use Only. Not for Public Distribution.
Sponsored by

Scott Sherman, ASA, MAAA
Area President,
Scott T. Steves, CFP®
Regional Senior Vice President,
Lauren K. Bump, AIF®
Regional Retirement Consultant,
Randy Myers
Senior Contributing Editor