Retirement Planning

Helping Employees Prepare Successfuly for Retirement

For John Kopra, president and CEO of The Retirement Plan Company, LLC, that description is a daily reality.

His firm, based in Brentwood, Tenn., services clients across the country who are in need of comprehensive services to not only make the retirement plans they offer employees as cost effective as possible, but to also – and perhaps, even more importantly – make those plans become effective tools that employees can use to fund their own personal retirement goals.

“Our mission is to help employees better plan for their retirement,” Kopra said. “That is the reason for us to be around. When an employee is retiring and ready to leave the company, we want to have been a big part of why they are secure financially and can look forward to a relaxed and enjoyable retirement. Our mission is to get them there – and we are constantly looking for more ways to be effective in that mission.”

This is one of the reasons Kopra and his firm readily embraces emerging technology. They were one of the first to opt in to technology that enables automatic enrollment as employers establish new employee retirement plans and or hire new workers.

He knows, too, that most people are not fond of the mounds of paperwork associated with opening new financially-related accounts such as 401k plans and other investment/savings plans.
“Sometimes people are completely intimidated by the paperwork, or by the need to make choices that are necessary to enroll in these types of savings vehicles,” he said. “So, they end up opting out rather than going through the process. The paperwork is daunting with all the regulations and rules that have to be disclosed. Being able to auto-enroll takes much of that intimidation away.”

Kopra likes having the ability to let the employees of his clients – the ultimate end users of the benefit plans his firm establishes – to use their own personal devices such as computer, laptops, smart phones or iPads for enrollment and account management purposes. Doing this allows for a more personal experience on a tool the person is already highly comfortable using. He believes that this comfort level with their own personal device leads to more interaction with their account and more knowledge regarding progress toward their retirement goals.

Individualized dashboards for each employee within benefit plans allows Kopra’s firm to send personalized messages to each end user. Message content is generally focused on savings – encouraging them to participate in all available programs and updating them on their personal progress.

While Kopra’s firm provides extensive support for its clients offering benefit plans to their employees, TRPC also meets the needs of its direct client – the employer.
Compliance support with the ongoing mandatory audits from the federal Department of Labor is one example.

“The information required for Department of Labor audits is right in our system, as we need that information to properly administer the plan,” Kopra said, noting that this takes away most of the concerns with meeting compliance requirements within these audits. “We provide all the documentation the employer needs for this, other than things such as W2 and I9 forms that are not part of the benefits plan.”

Kopra realizes that most employers aren’t happy about the mandatory audits.

He counters that oversight is necessary today in light of the integral role technology plays in day-to-day operations and the high number of fraud cases in the past. In fact, he welcomes the introduction of similar mandatory Labor Department audits within his own segment of the industry.

“Yes, I think these audits should extend to our industry as well, to make sure that these plans are being serviced by financially sound and credible providers,” he said. “More work done on examining the honesty and integrity of the providers is good for the industry.”

His future goals include building on the niche his firm has carved out since its establishment in the early 1990s. Technology not only allows him to hire the best people in his industry from various locations across the country, but it also allows his firm to meet the needs of clients outside of Tennessee.

He believes his firm has become a strong voice and active advocate in driving the retirement success of its client’s employees.

“The better we do that, the more successful we will become as a business,” Kopra said. He wants his firm to be part of the solution for the nation’s current economic challenges. “The savings crisis in the United States is very real. We have a small role in helping solve that big national problem, but to the extent that we find more ways to be more successful at helping people better prepare for a retirement they are going to enjoy, the more we add to solving this crisis.”

For more information, visit:

Follow Us

Subscribe to Our Newsletter

What's Next, Updates & Editorial Picks In Your Inbox

Related Articles

© 2017-2021 Advisors Magazine. All Rights Reserved.Design & Development by The Web Empire