Roswell to provide retirement advisory services

The Roswell City Council recently approved a contract with AmRET to provide retirement advisory services for the city’s defined contribution retirement plans.

These services will include monitoring the city’s retirement services provider to ensure appropriate fees and investment options for employees, assistance with establishing and coordinating a plan governance committee, and employee investment education and communication.

AmRET will provide the city with investment policy statements, review the plan’s investment options, and review qualified investment alternatives. Advisors will also search and review investment managers.

For employees, the company will provide group enrollment and investment education meetings, support individual participant questions and assist employees with retirement readiness. Employees can expect periodic updates through a newsletter on the plan’s benefits.

The cost for these services varies depending on the balance of the city’s retirement accounts. Based upon the city’s defined contribution plan balance of approximately $43 million, the annual fee Is expected to be about $21,500 and will be paid from plan assets, not city funds.