401k Rotation

The 401(k) rotation showed us all the processes that go into managing a successful defined contribution program. Parkside acts as an investment advisor for several 401(k) programs for companies in the Saint Louis area and beyond. They work to protect and grow the retirement saving of these companies’ employees. In this rotation we had a hand in all the elements of 401(k) management. On the investments side, we researched funds, classified securities, and mapped old fund lineups to new ones. Education is another big part of this rotation. We all learned a lot about how 401(k) programs work and all the regulations that must be followed. In addition, we developed new educational materials that will be used in presentations for plan participants. Parkside’s 401(k) department is growing rapidly, so they need a solid prospect pipeline. To get a firsthand look into that process, we researched new business leads and created proposals that highlighted the benefits that Parkside can provide. Once a business becomes a client, the bank keeps regular contact through both educational presentations and client reviews. These reviews consist of meeting with sponsors to go over important plan details. To experience this important part of plan management, we attended various pre-review meetings where we saw how Parkside determines what information needs to be discussed with the client. Overall, the 401(k) rotation gave us a fast paced and in-depth look at all the things that go into successfully managing a plan.