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Practice Management

Running a Plan Review Meeting

Q. What are some tips for running a plan review meeting?

A. One can keep a plan review meeting on track by taking the following steps:

  • Set an agenda. Some standard agenda items include review of the: 

1. plan investment platform;
2. plan design;
3. plan testing;
4. plan document; and
5. changes in retirement plan law. 

  • Sample agenda:

1. Introduction of all parties 
2. Advisor to review investment results and discuss benchmarking 
3. Client relationship manager to review plan participation, deferral rates, loan and distribution statistics
4. TPA to review current plan design, results of plan testing, and upcoming retirement plan law changes 
5. Group to discuss options to increase plan participation

  • Hold a meeting to assign agenda items. In that meeting: 

1. Review the draft agenda with all parties. 
2. Determine the order of items. 
3. Decide who will do what and time necessary.
4. Decide who will open and close the meeting.

  • Review topics to be discussed.
  • Set estimated times.
  • Be prepared with appropriate information. 
  • Remember that some information doesn’t need to be discussed at an annual meeting. 
  • Before the plan review meeting: 

1. Prepare your materials so you have what you need. 
2. Review your material.
3. Practice what you will say if you have a difficult topic to address.