The way employees save for retirement is changing, and so is the conversation around how employers can best support them. That’s why we’re proud to share that our own Phil Sherman, CPFA®, NQPC™, Senior Retirement Plan Consultant, was recently invited to speak at the NAPA/NTSA ERISA 403(b) Advisor Conference.
This premier event brings together the nation’s top 403(b) advisors and consultants to exchange ideas, explore innovative plan design, and uncover strategies to improve retirement outcomes.
Featured Speakers: Facilitator: Kim Cochrane, QPA™, TGPC, Director, Client Services, HUB International, Phil Sherman, CPFA®, NQPC™, Senior Retirement Plan Consultant, Deschutes Investment Consulting LLC, Devyn Duex, Principal | Financial Advisor, CAPTRUST, Ric Clouse, Managing Director, Strategic Retirement Partners
The Panel: Overrated or Underrated ERISA 403(b) Topics
Phil joined industry peers in a dynamic session titled Overrated or Underrated ERISA 403(b) Topics. The panel explored which products and services are making an impact in retirement plans, and which may be more hype than help.
Discussion highlights included:
Are in-plan retirement income solutions truly helping participants or are they too complex?
Do managed accounts (including AMAs) provide value, or are they just another layer of cost?
Can advisor-based wealth management portfolios inside a 403(b) add meaningful outcomes?
Are MEPs/PEPs and CITs in 403(b)s worth the administrative lift, or overrated as cost-savers?
For plan sponsors, these aren’t abstract questions; they directly impact how employees save, invest, and eventually retire. Phil and his fellow panelists challenged the audience to weigh the benefits against the complexity, cost, and fiduciary responsibilities that come with each new offering.
Stay tuned for our follow-up blog where we will break down the answers Phil and his colleagues shared in regards to these questions.
Why 403(b) Plans Are Essential for Nonprofits and Education Employers
While 401(k) plans often dominate headlines, 403(b) plans are the retirement savings backbone for millions of Americans working in education, healthcare, and nonprofit organizations. These employees dedicate their careers to service, and their employers have a responsibility to provide retirement benefits that set them up for long-term security.
A strong 403(b) retirement plan isn’t just a benefit. It’s a competitive advantage for attracting and retaining talent, reducing employee financial stress, and demonstrating organizational commitment to workforce well-being.
But here’s the challenge: not all 403(b) plans are created equal. Without the right design, oversight, and education, employees can miss out on critical savings opportunities, and employers may face compliance and fiduciary headaches.
That’s where firms like Deschutes come in.
How Deschutes Investment Consulting Helps 403(b) Plan Sponsors
With more than 30 years of experience, Deschutes partners with nonprofit organizations, school systems, and healthcare providers to make their retirement plans stronger, more cost-efficient, and more impactful for employees.
Our 403(b) consulting services include:
- Plan Design with Purpose: We help organizations choose features that make sense for their workforce, not just because they’re trendy.
Fiduciary guidance – helping plan sponsors, CFOs, and boards meet their fiduciary responsibilities with confidence.
Fee benchmarking and vendor analysis – ensuring costs remain competitive and services deliver value.
Education that Connects: Delivering financial wellness sessions, resources, and one-on-one support so participants feel empowered, not overwhelmed.
Innovation with Care: Evaluating new plan features like CITs or managed accounts with a critical eye—just like Phil’s panel discussion encouraged.
By aligning plan design with employee needs and fiduciary best practices, we help organizations build retirement plans that actually work for their workforce.
Why It Matters
At the end of the day, retirement readiness is about more than investment lineups or plan design; it’s about people. Employees dedicate their careers to service, often putting others before themselves. A well-designed 403(b) plan is one of the most impactful ways an organization can give back, ensuring that those who spend their lives helping others can one day retire with security and dignity.
Is your 403(b) plan working as hard as it should for your employees?
We’d love to start a conversation about how Deschutes can help you build a retirement plan that truly delivers. info@deschutesinvestment.com