Plan Sponsor

Many plan sponsors and trustees feel they lack the tools necessary to fulfill their fiduciary and operational duties. Meanwhile, the regulatory environment for retirement plans grows increasingly complex and challenges many plan sponsors to keep up with new federal regulations. More than ever, plan sponsors have turned to retirement plan specialists, such as Westgate Capital Consultants, to assist them in operating their plan efficiently and in addressing federal regulations. In order to help trustees manage their fiduciary responsibilities, WCC has a second objective and associated services focused on serving these needs.

Westgate Capital Consultants two-fold objective:

  • To provide the education, guidance, and investment tools necessary to help employees plan and pursue an adequate income for their retirement years.

  • To assist plan sponsors and plan fiduciaries in identifying and managing their investment related fiduciary responsibilities.


Enrollment & Guidance

  • Advise plan sponsors on best practices and procedures to address regulatory requirements
  • Assist plan sponsors in the preparation and review of the plan Investment Policy Statement (IPS) as outlined by IRS 404(c) guidelines
  • Conduct initial and subsequent employee enrollment and education seminars
  • Provide ongoing investment support for all plan participants
  • Conduct periodic reviews:
    • Trustee meetings annually or upon request
    • Overall plan and market review presented to participants and trustees

Market & Investment Research

  • Research available investments & recommend an offering that includes diversified investment choices.
  • Provide ongoing market analysis
  • Monitor plan investments for style consistency and competitive performance

Account Maintenance

  • Facilitate plan asset transfer and initial contribution
  • Train and provide support to the contact person responsible for submitting contributions
  • Act as a liaison between the plan sponsor, investment company, accounting firm and plan participants

Why does WCC go to such lengths to help plan sponsors and trustees? Both the Department of Labor and the IRS have increased their scrutiny on retirement plans. The cost of non-compliance has increased, as has the likelihood of these agencies finding deficiency. Specifically, the Department of Labor tracks their results – take a look at the DOL Employee Benefits Security Administration (EBSA) Total Monetary Results Report here.