Client Profile

Industry: Municipal Government
Number of Participants: Over 3,000
Type of Plan(s):
457 Deferred Compensation
Previous Providers: Major Insurance Company
New Provider: CBIZ InR

CBIZ InR assisted the client in the following ways:

  • Benchmarked fees and expenses 
  • Engaged as 3(38) investment manager 
  • Established an investment policy statement 
  • Provided Employee investment advice 
  • Established a proper fiduciary governance process

Outcomes

  • Lowered participant costs in the year implemented by 50% 
  • Converted the 457 plan 
  • Established a formal investment monitoring process that complements the plan’s asset allocation strategy. Replaced actively managed funds with risk based model portfolio and an array of index funds from Vanguard® 
  • Lowered fiduciary liability associated with the selection, monitoring and replacement of investments 
  • Improved the committee’s competency and ability to manage their retirement plan properly 
  • Met with employees one on one to provide individual investment advice

Download our case study


1While an investment manager assumes the risks associated with choosing the investments in a 457 plan, you remain responsible for monitoring the quality of the services provided by the investment manager.

2The DALBAR 3(38) Certification Program provides an independent assessment of an investment manager’s ability to satisfy the requirements of ERISA section 3(38). CBIZ InR has met the requirements set forth by DALBAR to become a DALBAR Certified ERISA 3(38) Investment Manager.

*$250,000 savings applies to the first year implemented.

Investment management services to pension and profit sharing plans including governmental and/or municipal defined benefit plans, Deferred Retirement Option Plans and individuals provided by CBIZ Investment Advisory Services, LLC, dba CBIZ InR, SEC Registered Investment Adviser. For information about additional service offerings, please see the Form ADV 2A for CBIZ Investment Advisory Services, LLC at adviserinfo.sec.gov.

Copyright © 2020, CBIZ, Inc. All rights reserved. 

CBIZ InR Assists Municipal Employees in Saving Over $250,000 in Fees in Their 457 Planhttps://www.cbiz.com/Portals/0/Images/CBIZ_InR_municipal_cs.jpg?ver=2020-12-14-085427-143CBIZ InR assisted the client in the following ways:2020-12-14T17:00:00-05:00CBIZ InR assisted theclient in the following ways: Employee ManagementGovernmentRetirement Plan ServicesNo