Castle Rock Investment Company ("CRIC"), announced that it was the first registered investment adviser in the country to implement a new solution to …
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Castle Rock Investment Company ("CRIC"), announced that it was
the first registered investment adviser in the country to implement
a new solution to improve the retirement readiness for an
employer's entire workforce while staying within that employer's
Castle Rock Investment Company assists plan sponsors of corporate
and government workplace retirement plans (ex. 401(a), 401(k), and
457 plans) fulfill their fiduciary responsibilities and prepare
their employees for retirement. "After reviewing the service from
Fiduciary Benchmarks, it was clear that my clients would benefit
from a robust analysis of their employees retirement readiness
considering alternative plan designs," said Michele Suriano,
President of CRIC, a woman-owned registered investment
CRIC worked with Platte Valley Companies based in Scottsbluff, NE
to compare their employees' retirement readiness utilizing the
current plan design versus alternative plan designs. The retirement
plan committee quickly recognized the impact an alternative plan
design would have on their employees' retirement and voted to
implement the new plan design. "This is the best investment I ever
made for my associates...for a small amount of money to implement,
this program can help our 206 employees generate an additional $26
million dollars in higher account balances at retirement," said Hod
Kosman, CEO of Platte Valley Companies, the first company to use
Fiduciary Benchmarks, a leading benchmarking service in the
retirement plan industry, selected Castle Rock Investment Company
to rollout their Defined Contribution Plan Design Optimization
Service. This service provides a comprehensive analysis of the
impact on employee retirement readiness of key plan design
parameters, taking account of every individual's age, compensation,
deferral rate, investing behavior, social security entitlements and
any supplemental savings or retirement income. The result is a
customized plan design solution that can significantly improve
retirement readiness for an employer's entire workforce, adding
millions of dollars to retirement account balances, while staying
within that employer's given budget.
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