Make your retirement plan part of your competitive advantage.
Why do companies stay with sub-optimal retirement plans? Because when you’re working with a market dominated by bundled providers and 1-800 number service models, it’s easier to choose a plan and never think about it again. But, we know you care about your business and your employees. There’s a better way.
We believe your approach to retirement benefits should be analyzed like any other part of your business. And, at Innovative, that’s what we’ll help you do. Together, we’ll reveal the hidden costs and challenges in your retirement benefits program and ensure a better solution for your employees.
People care. Spreadsheets don’t.
Innovative is a refreshing alternative to cookie-cutter firms. We pride ourselves as the solution that allows you to make the most of your retirement plans while keeping a close working relationship with local professionals. Our hands-on approach ensures that you have one point of contact for all of your needs. We manage all aspects of your plan, including coordinating with your various service providers (from auditors, to TPA/recordkeepers, to custodians).
Our team of tax and financial professionals provides comprehensive retirement planning services, including:
Vendor Search, Management & Oversight
With countless vendor options available, we simplify the process for you. Innovative can partner with your current retirement plan service provider(s) to align necessary processes and procedures, including monitor service providers, fee disclosure assessment, benchmarking, service provider assessment, generate and evaluate a request for proposal, and support contract negotiation.
The plan document is your foundation; creating a successful retirement plan starts here. The Innovative Investment Fiduciaries, LLC team will assess your overall plan operations and features, and make recommendations for design changes that will improve your outcome.
Plan Sponsor Services
We understand your job as a plan sponsor can be challenging, that’s why we are here to help. Innovative will advise on the proper governance procedures for the plan including the establishment, appointment and training of the Investment Committee, the use of outside experts, the need for formal documentation, and the procurement of fiduciary insurance. Moreover, Innovative will work with the plan sponsor to obtain optimal participant retirement results within the plan sponsor’s budget.
Fiduciary Management & Compliance
Simply put, we provide you peace of mind. Innovative will act as a fiduciary for the plan investments and provide independent, unbiased investment advice. Innovative will also work with your service providers on an ongoing basis to help manage overall plan operations and monitor compliance procedures Throughout the year, Innovative will also be a resource for the leadership team and participants.
Innovative’s Investment team manages both defined contribution and defined benefit plans. When partnering with Innovative, you gain reliable, expert guidance on assessing your plan’s investment objectives, designing your overall investment structure, developing your investment policy statement, and monitoring and reporting of your investment.
Employee Engagement & Communication
Educating your employees on how to take charge of their financial goals is a win for all. After consultation with your leadership team, Innovative will design and manage an education plan for your organization. Our programs typically include group and one-on-one meetings and can be expanded to include financial wellness programs and customized seminars with participants.
In addition to above, Innovative has extensive experience with plan mergers and terminations as well as qualified and non-qualified strategies to increase executive contributions.
Customized Tax Planning
Changes to tax code can have significant implications for individuals. Amending your benefit formulas under your existing retirement plan may yield significant tax benefits. At Innovative, we have extensive experience designing retirement plans that increase the contributions allocated to owners and key executives, which in turn can generate significant tax benefits.
Innovative is proud to be a CEFEX certified Investment Advisor. This certification signifies our commitment to uphold the highest level of fiduciary care and that has a direct impact on you, your plan and your employees.
CEFEX is an independent global assessment and certification organization. They work closely with industry experts to provide comprehensive assessment programs designed to improve the fiduciary practices of investment advisors, stewards (retirement plans, foundations and endowments, etc.), investment managers, and other financial service providers. CEFEX confers a formal certification for those firms that are willing to undergo an independent audit and able to demonstrate that they fully conform to high standards which are substantiated in case law and fiduciary best practices.
At Innovative, we follow well-defined processes, grounded in best practices, so that we can make sound, objective, and consistent decisions in service to our clients. CEFEX certification offers testament to the fact that we understand the importance of paying close attention to everything from high level strategies and policies all the way down to the details of our business practices. The CEFEX Mark seeks to make our clients confident that we are worthy of their trust.
Experience the difference.
With a dedicated team of benefit, tax, and financial professionals, our firm has broad experience providing retirement plan solutions to mid-market employers.
But, what sets us apart? We care about YOU.
With Innovative, you’ll know everyone on our team by name. But more than that, employee happiness, well-being, and engagement isn’t something we consider ‘nice to have.’ It’s the very reason our clients hire us.
Take the first step right now.
You and your employees deserve more. With Innovative, you’ll get it. Contact us today.
Feedback From Our Happy Customers
The Innovative team is well respected at AFS. My staff and I feel they are an extension of our HR team! Since implementation, they have always remained committed to assisting AFS with all of its healthcare needs; in fact, it doesn’t matter what time of day, they always respond in a timely manner.
Each year they come up with fresh material so our employee’s interest is always peaked. A few years ago, Innovative provided us with documentation to show that moving from a fully insured program to self-insured would be more cost effective for AFS, and it has been! Innovative has truly made our jobs easier so we can focus on other tasks.
Resource Renewal is lucky to have had IBP by our side for over 25 years. They provide a level of service you just can’t find in the healthcare insurance and benefit space.
If your not using IBP you are losing money and not providing you team with the best resources to navigate the complex world of benefits.
As an HR professional, Innovative makes my job easier and benefits administration much less overwhelming than it would otherwise be.
They are truly a partner with me to make sure our team members have the best benefits and service around their benefits that we can offer. Innovative’s team is responsive, professional and resourceful. (They are at the forefront of knowledge in many areas, including ACA reporting and compliance, which can get highly complicated.)
As a client for the last 4 years, we love working with our Innovative Benefit Planning team because of their service model, scope , depth and quality of expertise in handling our benefits and renewals.
Their level of commitment just keeps getting better each year. They have more than met our expectations on renewal negotiations, response time, assistance with ongoing plans, open enrollment material, meetings, support, bill auditing, and wellness programs.
Since our partnership with Innovative Benefit Planning in 2017, it has been a seamless one. Innovative always provide options, suggestions and recommendations when it comes to our benefits renewal.
Innovative is always present even when open enrollment ends, their year round communication reminds me that I can always reach out for help at any time. Their professionalism is the utmost one can expect. My account representative Jenni is wonderful, courteous, knowledgeable and very helpful.
We have been dealing with Innovative Benefit Planning for many, many years. They have given us nothing but exceptional service.
We can pick up the phone or email them and they always resolve our questions and take care of our employees insurance issues in a very timely manner. They negotiate our insurance rates every year and have managed to reduce the increase every year. Every account manager we’ve had throughout the years have been great to work with.
I have been working with Innovative Benefit Planning for over six years. Previous to Innovative, I had used the same broker for about 25 years. I was used to doing everything myself during open enrollment with my previous broker.
When Innovative came on board, I was pleasantly surprised how “on top” of things they were. I never have to call them and bother them about getting rates to me for open enrollment, as they are in touch with our carriers on a regular basis, and they get me my information for open enrollment as soon as they receive it from the carriers.
Our actions define our company
When it comes to your business, you wouldn’t just trust anyone. That’s why at Innovative, we pride ourselves on being a trusted source — and we show it by focusing on your goals and delivering value.
Your culture drives our work
Doing what’s right for people is the key to long-term relationships where everyone benefits. And, it’s why our clients rest assured, knowing we always have their best interests at heart.
Expertise drives better outcomes
At Innovative, we take pride in our expertise. We employ and partner with experts across the Benefits Planning and Financial Services industries so we can deliver the best results to our clients. And, our capabilities are reflective of the experts we have on staff in the fields of:
- Employee Benefits
- Retirement Plan Consulting
- HR Consulting