Paul Sommerstad, AIF®, QPFC®
Partner
Certain financial planning decisions must be made by December 31 or sooner.
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Partner
Paul is a Partner in the firm’s Retirement Plan Services Group. He has more than fifteen years of experience in the retirement plan industry and specializes in helping organizations understand how plan design can dramatically improve their employees’ ability to successfully retire and how proper governance can limit personal fiduciary liability. Paul has worked with a variety of public, private, and nonprofit organizations providing them with proven strategies that have resulted in improved outcomes for thousands of retirement plan participants. He is an ardent researcher of behavioral economics and prides himself in using plain language to help plan committees and participants accomplish their goals and objectives.
Prior to joining Cerity Partners, Paul was a Senior ERISA Consultant with Blue Prairie Group where his expertise in vendor negotiations resulted in lower total plan and administrative costs and improved service levels for institutional clients of all sizes.
Retirement Plan Solutions
In the fourth quarter, several items are converging for retirement plan sponsors. Target-date funds continue evolving toward retirement income features while incorporating new asset classes. Additionally, AI is changing how participants get information and support from their recordkeepers, and SECURE 2.0’s remaining required and optional provisions bring a full year-end document and administration checklist. Meanwhile, […]
Corporations
What You Need To Know Cryptocurrency is a topic dominating financial headlines, but what is it and is it worth exploring with your advisor? Here we explain Cerity Partners’ position as it relates to incorporating Cryptos in a qualified retirement plan — specifically a defined contribution (“DC”) plan. What is a Cryptocurrency? A cryptocurrency (“Crypto”) […]
Corporations
Benchmarking your retirement plan regularly is a best practice all plan sponsors should follow. But benchmarking your plan is about more than just confirming the reasonableness of fees.
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