Retirement Advisory
401 (k) Plan
403 (b) Plan
457 Plan
Cash Balance Plan
Money Purchase Plan

Retirement Plan Consulting

Our Mission at Old North State Trust is to use education to inspire and implement appropriate retirement saving solutions for all participants while ensuring the best solution for business owners and corporations alike.

“We have enjoyed a great working relationship with Old North State Trust since 2012 in advising our Firm and the Firm’s Retirement Plan participants.  ONST has provided excellent services.  They go above and beyond to help us navigate through the many Plan options and strategies.  In addition to their wealth of knowledge and experience, they are great communicators.  The folks at ONST are able to take complex data and information and make it understandable and useful to the Plan Administrators and participants.  We look forward to many more years working with ONST.”

Paul

 


Plan Services:

 

Plan Design: We customize each plan to the needs of both the employer and the participants. By understanding the goals of the employer, we strategically match the plan provisions to provide the most effective and efficient plan design.

 

Fee Analysis: Our goal is to provide a completely transparent plan fee structure from record keeping services, advisor fees, and any expense ratios included in the fund lineup. We utilize a fee benchmarker to ensure a fiduciarily appropriate fee structure.

 

Objective Plan Review:  Servings as a neutral fiduciary, we look for operational, compliance and fund lineup issues that may not align with the plan design. We will provide a full report identifying any issues that may arise and provide solutions to remedy.

 

  • Advise in plan design
  • Provide compliance oversight
  • Monitor necessary documentation delivery
  • Ensure proper procedures for distribution
  • Ensure reasonable plan investment expenses
  • Perform service provider cost analysis
  • Vendor Management
  • Assist with year-end testing
  • Create and manage an Investment Policy Statement
  • Practice strict adherence to a prudent investment selection process
  • Perform quarterly investment due diligence

Participant Services

 

Participant Education Wellness Program: We strive to make the best of the benefit that employers provide to their employees through enrollment guides, investment informational packets and go as far as offering a risk tolerance questionnaire and matching models. We conduct quarterly meeting on-site in a group and one on one atmosphere.

 

  • Provide participant risk assessment
  • Assist with loan and distribution requests
  • Monitor participation notices
  • Assist with participant onboarding
  • Assist with retirement planning
  • Ensure on-going communication
  • Provide a Participant education wellness program
  • Group and one-on-one meetings provided

Focused Services

 

We provide discretionary Investment management by a Qualified Plan Committee: Our Retirement Plan Investment Committee was formed to appropriately provide investments that allow participants to create optimal portfolios that match their goals.

 

  • Identify solutions for risk management
  • Fully outsourced investment fiduciary responsibility (3(38))
  • Establish a qualified deferred investment alternative (QDIA)
  • Eliminate the burden and effort of the plan sponsor to provide a prudent investment selection
  • Provide custom model portfolios
  • Provide discretionary investment management by a qualified plan committee
  • Strategically analyze and direct the investment fund lineup

Advisor Roles 3(21) vs. 3(38)

 

A 3(21) Investment advisor works with the plan sponsor to recommend a prudent investment lineup. Because the final decision is that of the plan, the full weight of fiduciary capacity lies within the plan and plan sponsor.

 

A 3(38) Investment Advisor takes the full Fiduciary capacity as it pertains to investments. This provides the Fiduciary relief that many business owners and corporations prefer. The Investment Manager is tasked with prudently providing, monitoring and revising the investments provided in the plan.