Event Details

Oregon SHRM Presents: Financial Education Series (Part 1)

Part 1 of a 4 part series in 2022 will focus on:

Understanding 401(k) Plan Components & Costs

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Specific focus areas include:

Recordkeeper

1. One easy way to determine who the recordkeeper is: what website do you use to access your plan? Chances are, that is your plan’s Recordkeeper.
2. What does a Recordkeeper do?
3. How do Recordkeepers charge plan fees?

Investment Cost – Expense Ratio

1. who pays for investment expenses?
2. what is revenue sharing?
3. Is cheaper better?

Third-Party Administrator (TPA)

1. Who is my TPA? Easy way to determine – who sends you plan compliance and 5500 docs each year?
2. What does a TPA do?
   • Takes care of plan testing
   • prepares IRS Form 5500 each year
   • keeps plan compliant
3. How do TPAs determine plan fees?

Financial Advisor

1. Do I need an advisor?
2. What does an advisor do?
3. How do advisors determine plan fees?

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Presented by our partners at Preisz Financial- Tom Davenport. Tom ensures that group retirement plan clients receive the robust level of services offered by Preisz Financial. Serving as the team leader for our retirement plan practice, he offers support by ensuring all services are delivered in accordance with their needs. Additionally, he hosts the fiduciary review meetings for plan sponsor clients, provides investment monitoring reviews and assists plan sponsors with reviewing their current recordkeeper’s costs and services. While he spends most of his day working with plan sponsor clients, he enjoys providing onsite participant education meetings and meeting with plan participants during 401(k) checkup meetings.

Prior to entering the industry, he spent several years as a forest firefighter, serving as a squad leader and a senior firefighter with a Forest Service Hotshot Crew. During his time as a firefighter, he assisted with disaster relief for Hurricane Katrina and the Space Shuttle Columbia Search and Recovery efforts. He is proud of the six years he spent as a Wildland Firefighter and believes this unique experience contributes to his ability to help clients remain calm during stressful times and stay focused on their objectives.

Tom grew up in Eugene, Oregon, where the fall season was spent watching Oregon Ducks football. Today, he lives in Portland with his son, Aiden. He and his family like to spend time outdoors, attending Duck football games, and occasionally travel.