1. Retirement Plan Design Getting more Bang for your buck
Success stories from plan sponsors and participants
April 27, 2018
Chad Schollaert, AIF®, CRSP Carissa Dunaway SVP, Retirement Plan Services Relationship Manager

2. Who We Are Privately Owned & Independent
Est. 1987
Privately Owned & Independent
Retirement Plans | Wealth Management | Trust
75 Highly-Trained Staff & Respected Advisors
$3.1+ Billion in Assets Under Management
Knoxville | Chattanooga | Johnson City

4. What are some of your Retirement Plan Challenges?

5. Why Does Plan Design Matter?
Employer cost of aging workforce
Prudential study
Average Social Security retirement check is $1, per month ($16, annually) 4

6. Why Does Plan Design Matter?
Americans have not done a good job saving
50% of American workers have access to plans not all of them participate those that do are not saving enough
Average 401k plan balance $99,900 (Q3 2017)
33% of workers determine how much to contribute to their company retirement plan based on their employer match.
Retention
Every time a business replaces a salaried employee, it costs 6 to 9 months' salary on average 4

7. Case Study #1 – Charles Blalock & Sons
Road construction
700+ employees
Company Description
1% match
Low participation
Prior Design
Stretched match to 33% of 3% match
Auto enroll everyone at 3%
Auto enroll new employees at 3%
New Design
Doubled participation
Doubled contribution rate
Passed ADP/ACP testing for first time since 1998
Results
Chad talk about how we are different from many retirement providers out there. How we are similar to Claris in that we are not a brand name but we have a great reputation of helping clients solve problems. If you like Claris’s commitment to solving problems for their clients you will like working with us.

8. Case Study #2 – Barrette Outdoor Living
Fence manufacturer
1500+ employees
Company Description
50% of 6% match
Low participation
Prior Design
Auto enroll 3% upon hire and every February
Auto increase by 1% up to 6% every February
New Design
Progressive increase in participation
Happy Employees
HCEs have much higher limits
Results
Chad talk about how we are different from many retirement providers out there. How we are similar to Claris in that we are not a brand name but we have a great reputation of helping clients solve problems. If you like Claris’s commitment to solving problems for their clients you will like working with us.

9. Case Study #3 – Caris Healthcare
Hospice Care Provider
700+ employees
Company Description
100% of 3%, 50% of next 2% match
1 year eligibility
Prior Design
Auto enroll 3% upon hire and every
2 month eligibility
New Design
Progressive increase in participation
More competitive with other employers
Results
Chad talk about how we are different from many retirement providers out there. How we are similar to Claris in that we are not a brand name but we have a great reputation of helping clients solve problems. If you like Claris’s commitment to solving problems for their clients you will like working with us.

10. Other Plan Designs NQ Deferred Compensation plans Cash Balance Plans
HSA
OPEB 8

11. Industry Trends More auto features Stretch Match
Studies have shown that participation rates can increase by as much as 34% by adding automatic enrollment provisions to a 401(k) plan
Stretch Match
Instead of offering 50 cent match up to 5% of salary, offer 25 cents up to 10% of salary
Less Investment Choices
For every 10 investment choices offered enrollment drops by 2% 9

12. Industry Trends Shorter eligibility Shorter vesting Roth Contributions
True Up
Match Frequency 9

13. Regulatory Update Coverage for all State mandated plans
Slow death of the fiduciary rule 10

14. Thank You! 11

15. Chad Schollaert, AIF®, CRSP. Carissa Dunaway
Chad Schollaert, AIF®, CRSP Carissa Dunaway SVP, Retirement Plan Services Relationship Manager 11