We have partnered with two leading retirement financial firms, and the Virginia Bankers Association Benefits Corporation, to deliver a fully-integrated workplace retirement plan solution.
The program was built by community bankers and is powered by financial service professionals that deliver best-in-class retirement plan expertise. Using unique design and scale, the program provides employers with maximum protection from fiduciary liability under ERISA, enhanced employer/employee services and access to institutional share class funds, all at a fee/access level not typically available for smaller, stand-alone plans.
Other key program features include plan design consulting, community bank benchmarking, HR training, vendor management, investment selection/monitoring, compliance testing, participant disclosures/notices, DOL filings, payroll integration and much more. Our program was designed to help you and your plan participants learn more, save more and worry less, freeing up more of your time to get back to the business of banking!
Why Choose KBA Retirement Solutions
ECONOMIES OF SCALE
COMMUNITY BANK FOCUS
- Over $500M in assets allow for increased scale in operating costs, servicing, and technology capabilities
- Provides access to institutional share classes of mutual funds not always available to smaller, stand-alone plans
- Unique plan structure exclusively available to community banks
- Experience creating retirement readiness culture for community banks
- Community bank benchmarking to assist in establishing goals and plan achievements
- 3(38) Investment Manager – selects/monitors investment line-up
- Formal Investment Policy Statement and Investment Committee
- Board Oversight
- Competitive Plan Design
- Explicit Fee Model
- Award-winning participant website, mobile app and personal financial dashboard
- Dedicated Account Team
- 360° Payroll Integration
- Point-in-time fiduciary level participant advice
- Utilize data-driven insights and predictive analytics to customize education for each participant
- Onsite, virtual and webinar-based employee meetings