(Re)Designing the perfect 401(k) for your company

1. Introduction: Hi, everyone. Welcome to your skill share class redesigning the perfect 41 K for your company Money and Aaron Partition on president of CLS Partners Retirement Services. And before we kind of get into the project of class, I want to kind of just give you a little bit of overview of who my company is, and that's who I am as well. So let's start with my company, CLS Partners, and we like to refer to ourselves as a value creation firm. Utilises insurance is the vehicle to do that, and so we work in the areas of medical insurance risk management insurance. So I kind of think dino Workers Compensation also work with companies on maybe some HR consulting issues. And lastly, it's retirement services division as well. So that's the division that I'm the president of. And in that division we focus solely on working with employer sponsored retirement. So thanks for one case for freebies and some other things like that as well. So that's kind of who our company is. Let me tell you a little bit about myself. Been in the financial services industry for 10 plus years, been fortunate over that time Teoh work with hundreds of different companies with regards to their +41 K plan and spoken with you at this point, probably thousands of individuals that are participants in for one, I've been fortunate enough to receive recognition in the form of some awards from financial times as well. Some trade in ST organizations as well. And then I've also been able to contribute to news stories and articles that have been featured on CNBC. New York Times investment news. Wealth management is, well, some trade publications as well. And then, lastly, I also produce an article that's actually published on investment news dot com and that articles purposes really kind of shirt insights and guidance with other financial advisors so they can really provide more value to their clients. For a one K plans as well. That's a little bit information about our company. It's a background on myself. I'm really looking forward to getting more into class with you. 2. Class Project: Let's get into the actual project Skill share last night. Now the title of this class is redesigning the perfect 41 K for your company. And you know that noticing the title, the re's and parentheses we'll get to that. Why, that is in a 2nd 1st I'm gonna talk about what? Some of things that we're not gonna talk about in this class. There's really kind of three things. First off, we're not gonna talk about investments. So we're not gonna talk about if passive investments or active managers or better, we're not gonna talk about target date funds or balanced funds. That's a whole another course that by itself would eat up an entire hour, so we just don't have the time to talk about that. The other thing we're not gonna talk about in this class is really what type of record keepers the best one to go it. So do you want to go with the guy that has the green logo? Where the blue logo again? That's kind of a rabbit hole that just doesn't fit into this course today. The last thing that we're gonna talk about really is what the legal maximums are for you to just paint the floor when k plan again. A rabbit hole was also kind of changing targets that from year to year go on, really want this content be able to kind of lasting more than just in 2017 for this year. So those are three things that we're not gonna talk about. Lastly, I am in the financial services industry, So I do want to kind of provide a quick disclosure for you about this course as well. So if you'll just kind of hang on with me, I want you to please understand that the concepts and ideas provided here are for informational purposes only and not intended to be advice or guidance. Please consult a professional retirement advisers for advice and guidance that a specific for your situation, right? So now that we've kind of got what are the things that we're not gonna talk about? Out of the way I want to talk about two more things. So one who this program is really for. So if you're watching this program, it's ideal for those that are a CFO, chief operating officer or somebody that center operations type role, a human resource position or somebody that's kind of more touching the human capital management of your company. Now, if you're not in one of those positions and you're still watching this course, that's fantastic. But what I want you to do is finish watching this course and then make sure you're referring this to somebody in your company that does kind of manage more of the operations and benefits of your company. So that's kind of the person that would really be able to get a lot out of this course. So it's talking about what the actual project is now that we've gotten, got through all those things. So I mentioned again before how there's that Ari on the designing portion that's in parentheses on the course title, and the reason for that is because, really, the courses designed for two different ways, so the first way to kind of look at this class and with the goal of this class is is if you already have an existing for one K plan. So if your company has a 41 K but you kind of believe that it's really not perfect for your company. The goal for you of this class is really takes, um, concepts and ideas and be able to use those in making your plan more perfect. You know, there might be one or two nuggets you can pull out of this course that will be able to improve the participation rates or the experience that your employees have. So that's your goal. For this course again, if you have an existing 41 K your goal for this course is to take some concepts, ideas and use those when kind of redesigning or redoing your plan that you want to kind of take. Make sure that your banking and using those later on when you're going through that reconstruction face let's call the other kind of goal of this course is if you don't have an existing for one K, your goal is to take the concepts and ideas that you learn here and really use. Use those when you're going through the implementation of your initial 41 K for your plan. So companies that are typically gonna fall into this category of eat, maybe start ups, smaller companies or if you're coming off of a P E O and you're starting up a brand new 41 K Those are the ones where you're gonna fall into the second category of the goal of the class will kind of be one of those two things. So just synopsis if you have an existing four, OK, your goal is to provide a couple concepts and ideas from here that you can use to improve your existing 401 K So add more value to it. Number two If you don't have an existing for one cake, your goal is to take these concepts and ideas and use those to help make sure that when you implement a 41 K it's something that's even better than was gonna be before. So that's what are gold classes for today. 3. Terminology: Let's talk about terminology now. If there's anything the financial services industry is good at, it's coming up with jargon that confuses just the population. So I'm gonna make sure what we're going through this course that were on the same page you and I are with regards to the terminology that I'm using. So the kind of the first things I won't talk about his 401 k or 403 b So 401 K plan is an employer sponsored defined contribution plan that is set up by a private company. So that's kind of what a four on Caisse Ah 403 B is essentially defined contribution plan that's set up by us, maybe a state agency or government, a non governmental agency or maybe a nonprofit as well. So there's some similarities between a 401 K and a 403 B and certainly the remainder of this class. If you have a 403 b plan, same concepts apply for the remainder of the course, so I am only going to refer to 401 k plan. So if you those of you that are in four or three people. And please don't feel like I'm trying to disrespect you. Just understand it's easier to refer to only one thing throughout the rest of this course. The second thing I want to talk about his plan sponsors. So a plan sponsor is a company or organization that is actually sponsoring the 41 K So in order to have a 401 K exists, you have to have somebody that sponsors it. So that's who that is. So typically, when we refer to plan Sponsor, we're referring to the company itself during that time. Okay, plan administrator. So plan administrators, typically somebody that's actually doing the day to day blocking and tackling of the for one case. So think about this person is a person that's remitting the payroll toe to the retirement plan of helping distribute out notices or enrollment packets to somebody like that. So that somebody that's actually, you know, doing the day to day work of making sure the retirement plan is keeping up to date with its the minimum requirements associated with the planets. Well, next thing is financial advisor so financial advisor can come in many different terms. There's financial advisor. There's broker. There's investment adviser. There's co fiduciary advisor. You know I'll be reusing maybe a variety of those terms throughout the rest of this course . But essentially, that person is probably 1/3 party person whose goal it is that assist with helping choose the investments, monitor the investments, helping to choose with the design of the plan. They're probably most frequently associated with educating the employees about the concepts with regards to retiring and saving what the different types of investment options are. So that's what financial advisors last thing I'm gonna references 1/3 party administrator so may touch on this very briefly. But 1/3 party administrator is essentially somebody that will be dealing mostly with a plan administrator. And they do a lot of the back end work with regards to compliance testing and then also kind of finally for 5500 which is required document you have to provide, and they're gonna operate mostly in the background. You typically don't have a lot of interaction with your participants as well, and I can't forget the last. I guess terminology or person in this process of referencing is really a record keeper, so again. The record keeper is essentially the person that you'll think of is kind of the logo for the 41 right? So you kind of think maybe Fidelity or Mass Mutual or one of the larger record keepers, right? That that's who a record keeper isn't certainly doesn't have to be either one of those those people. It's just you gotta throw out some names. You're familiar with who they are. So this will be the website. More than likely that people will log onto to check their balances. Statements will be coming to participants or coming to participants from these people, so that to a record Hebrews. So before we kind of move on again, wanted to kind of make sure that you and I were on the same page with regards to terminology, and now we can kind of move onto the next course 4. Why a 401K is so important: now we're gonna go onto the section where we're talking about why, if we're OK is so important in the reason why we wanted to include this section is is just a reminder to you all of how important this benefit is. Now there's lots of studies that come out annually looking at the important benefits that companies provide, and the number one benefit that employees really value from their employers is typically their medical insurance. Their number to benefit, that is, consistently number two is their employer sponsored retirement plan. This is a very important benefit that you'll are working on either implement, for your people are potentially redesigning for your employees as well. So I want to kind of give you some statistics, just backing up how important this benefit is for your employees. So we're gonna reference a few slides here. But according to the Schwartz Center for Economic Policy Analysis, in 1999 39% of U. S workers didn't have access to a company sponsored retirement. If we compare those same numbers to 2013 almost 50% of U. S workers didn't have access to a company sponsored retirement plan, so you could see something's happening here, where the market is shrinking as far as how many people actually have access to a retirement plan. So the fact that you're either sponsoring one right now where your think about sponsoring something retirement plan right now is so important because fewer and fewer people actually have access to her diamond. That's item number one. Why this is so important. Item number two is There was a study from LIMRA titled Workers of Retirement Programs. What are they thinking? Limericks? An association that really kind of focus on life insurance, And they had a couple of interesting findings. First finding was 3/4 of workers want to save for retirement through their employer, and 53% feel that employers should be required to offer savings plants. 61% of U. S workers surveyed without employer sponsored retirement savings plan would be more likely to save for retirement if they had access to one. So again, with these statistics are telling us, is that if I pull in the previous 11 there's fewer employers that actually providing a plane, and number two employees want to save for retirement through their employer sponsored retirement plans. So get indicating to you how important these programs are for your employees. The last one that we're gonna reference here is really related to stress and feelings of financial security. By plan. First, no plan. So this is some statistics that were produced by debris. That's, Ah, Employee Benefits Research Institute. They're very well known think tank. That's I would say, a political and doing research on the retirement health benefits area, and this is kind of some interesting findings they'd have from their 2016 retirement survey . And what it was really showing was that 69% of people that feel very or somewhat financially secure have access to a retirement plan. Those that feel very or somewhat financially secure don't have that are only 32% of those people that don't have access to plant feel that way. So that's a very big difference between those that feel financially secure and those that don't and the variable here is having access to retirement plan. So that's a big deal. So just to kind of bring this all together here? A. We're showing you here that there's fewer and fewer employers that are actually providing a plan and sponsoring one. Two employees really, really want this benefit and number three when you provide this benefit, there is a feeling of financial stress that somewhat goes away when you actually have these benefits. So you might one of the reasons employers typically will have a plan because they want to recruit and retain top employees. Also remember some of these things as well. It's not just about recruiting, retaining the best employees. It actually has a meaning that goes much deeper than that. Well, so that's what we have for this section. 5. What is your intention?: All right, So now we're gonna go into the next section is what is your intention with four k. Played a lot of times. You know, as I mentioned, you know, maybe before people will say they want a 41 K playing just so they can recruit and retain the best employees. And I understand that that might be your intention. But typically, if you want to have a really good for one K plan, you want to be more specific. So what I'm gonna go through is a few questions that you can ask yourselves that better help define what's the actual intention of this plant. So the first question really want to ask yourself is, You know, do you want to use this planet's recruiting and retention tool against companies that are in your same industry? Because if that's the case, that you want to make sure that you're designing a plan that's similar to what other competitors in your industry or maybe geographic region have and make it better, or at least meet what they're doing right now. So it's kind of question one that you want to ask yourself a question, too, is do you want to share some of your companies profits by installing company manager contribution program. So are you basically creating a 41 K plan so you can share some of the profits of your company with your employees by a retirement program? Some companies certainly do that. Another reason why you might be a sponsor in a 41 K plan is maybe still, your highly compensated employees can defer income on lower their tax rates. If that's the purpose of doing that, then great. But just make sure you're very specific for the reasons why you're sponsoring 41 k plan and make sure you're keeping those reasons. You know, are those intentions in mind when you're going throughout this process of designing plan picking vendors as well as financial advisers as well? Because they all have impacts a t end of the day on what those intentions are 6. Workforce types: thats next section. We're gonna talk about what type of work force do you have. And this is really important because what type of work force you have really kind of play apart into your vendors. You may be choosing, or what type of education you decide to deploy to your employees as well, and it really plays a strong part. So I'll go through kind of three ways and questions that you might want to ask yourself or make sure you're being aware of, and ultimately, that's going to spill over. How do you design your plan? So the first thing you want to be aware of is what is your turnover ratio for your company ? So if you're in the retail industry or quick service industry, let's say quick service restaurant industry. More likely, you've got a pretty high turnover ratio. And if you're kind of installing a 41 K plan because you've got a highly compensated employees that wants to defer the maximum amount that they can, well, that might be tough because you've got a whole bunch of employees that are coming in and coming out all the time might affect some things on the back end with regard to the testing of your plan later on. So you really want to be aware of that. Next thing you want to be aware of is how have you historically communicated with your voice? Have you historically communicate with your employees on site using paper one on one? Where have you kind of used email or other? Some other kind of electronic means of communicating? That's important because you want to make sure that it ultimately you're choosing a vendor that can meet the way that you have historically communicated with your employees. Or maybe the way that you want to communicate with them going forward. So that's an important item. The last thing you want to be aware of is just location. So if you're a organization or company where all of your employees come to work at the same time every day and leave at the same time, that's gonna dictate maybe how you would deploy your education or what resource is you allow them to have access to or what resources Maybe you bring on site. But if you're a workforce where there may be more distributed and you've got people that are traveling constantly. Or maybe they're actually just a virtual workforce. You're gonna need something that's completely different. And you want to make sure that whatever education or resource is that you're tapping or whoever you decide to work with, they can actually meet the needs of those things. So those are three things with regards to your workforce. You want to make sure you keep in mind when we move on to smother sections as well. And again it's gonna play a part in tow. The vendors you decide to use as well. It's kind of maybe who you decide to use from a consulting perspectivas well. 7. Redesigning your 401K: His next section is called Design for a Plane. Really? In this section, what we want to talk about is building off of what we talked about in the section called Intentions and then also with regards when we talk about what you're workforces. So when we're talking about designing your 41 K plan a couple things you want to keep in mind first, you want to remember that demographics and plan design will really dictate how the result of your 41 K almost more so than anything else you're gonna do so. Demographics. Indian plan design Just reiterate will impact your four okay and really dictate how you're 41 K plan is really absorbed by your employees. So what we're going to do next is kind of go through some popular plan design items and kind of talk about those very briefly. So the first item on talk about is a safe harbor future you can have on your retirement plan. Now, a safe harbor feature basically means that if at the end of the year, the annual compliance testing that's required was toe fail, So if you fail this annual compliance testing and you had a safe harbor feature on your retirement plan. None of your highly compensated employees would have kind of a negative result in getting refunds at the end of the year. So we hearken back to what your intention is. Your intention with your retirement plan is to make sure that you're highly compensated. Employees can't defer the maximum amount into the plan That's possible than a safe harbor feature. Might be something you want to go with. There are some cost associative Dexter's required match, but it's something you might want to consider. Another popular feature that has seen tremendous success in getting more people in the plan is what we call automatic enrollment. So with regards to automatic enrollment, how that works is essentially. If I'm Bob and I started working at Acme Corporation and Acme Corporation has an automatic enrollment feature that starts 30 days after I start working there, Then it could mean on the 31st day that I'm working an acting corporation. They take 3% of my pay and potentially differ that into the risk for a one K. Now it doesn't have to be 3% could be almost 80% decide dictate But an automatic enrollment feature basically eliminates the number one thing that stops people from saving for retirement, which is inertia. So what automatically says I'm gonna take 3% of your pain? I'm gonna put it into the 41 K plan for you. That's how an automatic enrollment feature works. It's been tremendously successful in getting more and more people into the retirement plan . I'm actually huge fan of it, but it needs to be used wisely. You also have to make sure you understand the demographics, your organization to make sure be received well now, the last option with regards to design features that you can kind of keep in mind, is not doing either of those. So you could have no safe harbor feature and you could have no automatic enrollment feature . And with that, you basically are saying employees here's or a retirement program take advantage of it, but you have to take action to do that again. That's perfectly fine. One of things to be aware of with regards to that is you got to make sure that you have education programs as well as the process that people have to take to get into the plan. It's very simplistic and get people to participate in a plan from there. So to kind of wrap this section up, Just remember that demographics and plan design will dictate really this success that your plan will have. So design it wisely. So a pro tip here. Just remember that when you're designing your 41 K you want to make sure you're keeping in mind what your future workforce is gonna be. So if you're a company that has an existing for a one K, or maybe you're starting to implement a plan right now and if you're let's just say 200 employees and you're gonna get some investment dollars and you're gonna grow toe 1000 employees in the next 12 months, you need to be aware of that and start designing your plan. So that way, your 401 K plan can adapt what your future state of your of your company will look like. A swell. So that's just a protest that 8. Employer match: will you offer employer match? Obviously, employees love having employer match, but again, you want to be very specific with If you do offer employer match, why you're doing it. So there's different ways on intentions companies have when they're often the employer match. So we got through a few of those right now. So one of the most common ways that reasons why a company will provide an employer matches one. They want employees to build up their retirement nest aches. So typically, these gonna be employers that are more benevolent, and they want to basically increase the total compensation that those employees are gaining at the end of the day. It by working at this company, that's fantastic. You're one of those companies that's doing that. One of things you want to keep in mind is maybe, you know, making sure you have a employer match. That said, it's such a rate where everyone could take advantage. That second reason you might be providing an employer matches to kind of incentivize employees to defer into the 40 k plants against you can pass that annual compliance testing that's at the end of the year. No, you're gonna be providing a match. That's to get people to increase their deferrals into the floor on K. Or maybe you're providing a safe harbor match at the end of the years. Well, either way, that's another intention you can have with your floor. One another reason why you might be providing on employer matches, maybe to supplement a previous retirement plan that you've had before. We've worked with organizations where they used to have a pension plan or to find a benefit plan, and then decided to kind of basically terminate that plan. And in doing so, they decided to really make sure and beef up their employer. 41 k match our contribution that they provided as well. So that's fantastic as well, really kind of pro tip. Here You want to kind of keep in mind is if you're going to providing forward K match or if you're already providing one try and make sure that the formula using in order for employees to get that full match amount is close to how people are deferring in the plan right now. So, for example, if the average deaf orrick of your employees is 6% but your employer matches maybe, Ah, 100% of four. But it might makes better sense to maybe do a match. That's, you know, let's just say 100% of four, something like that. So that's some kind of something to keep in mind. The last item you want to kind of keep in mind here is just making sure you're keeping it very simple. When you're explaining you're 41 k matched people. You get this. Typically, you're going to be explaining your four week A match it an annual education meeting, or maybe when they're first hired, or maybe when they're recruited as well. Keep it as simple as possible. Not only will that be easier to communicate with your employees, it would be much simpler to make sure your administering correctly later on this well, so pro tip here real quick. If you are providing an existing 41 K match or if you're thinking about doing one, you want to make sure that you set your 41 K match to basically where people are participating in the planet today. So let's say the average to throw right. Your plan is 8% so people are different. An average of 8% of their pay. You really don't want to set a match That's 100% of 4%. What you're be better off doing is setting a match. That's a 50% of maybe 8%. People are still getting the same dollars, but you're meeting them at the difference that they're saving right now. Not only is that going to basically help make sure people are increasing the difference that they're putting in the floor, okay, But they're gonna make sure that people are kind of getting the full match amount of swell , so it's kind of a project. 9. Adviser types: this section, We're gonna be talking about the types of advisors you may engage with now talked a little bit earlier about the terminology. And there's different types of financial advisors. Unfortunately for you. So there's people who call themselves financial advisors. There's people that are brokers. There's people that are investment advisors. And then there's people that call themselves co fiduciary advisors. So again, lots of terminology. What does it mean? Well, what you want to understand is, and how to really delineate between all those different types of people is, is one. How did they get paid? Commonly you'll see brokers are paid commissions. So these kind of paid out of 12 B one fees or kind of commissions that air embedded into mutual funds, financial advisors or people that are investment advisors or co fiduciary advisors. These people more commonly paid fees or fee based advisors or something like that. So you don't want to get a good understanding that the other thing you want to get a really good understanding of what of the services they're gonna provide, and then the frequency of those services of double again if you're a investment adviser or co fiduciary advisor. More than likely, there's a service contract that they'll have with you indicating what they're going to do in the frequency of which they're going to do that as well. Pro tip. Real quick. If you're gonna be working with someone, you'll want to understand. If there a co fiduciary or full fiduciary on your plan to kind of indicate what that means , they'll be providing documentation to you that will explicitly say I am a fiduciary or a co fiduciary kind of how they will operate on that. You'll really want to understand what that is. And really, at the end of the day, probably might want toe choose working with someone that will operate as a co fiduciary, meaning they have co legal responsibility with you with regards to some aspects of the plan . So again, that's approach it. 10. Plan Expenses: So in this section we talked about how the plan being so like everything there's no free lunch in life. And a lot of times we've heard employers say, Oh, this is a free benefit And that's not really the case because what that means is your employees or paying for all of the expenses with regards to your retirement plan. Now, that might not be an issue, but it's an issue of you. The plan, administrator or sponsor aren't aware of how much they're paying and then who's paying those fees as well. So when it comes to fees, you want to understand a who's paying them. Either you, the plan sponsor or bees at the participants, or is basically are both of you, kind of sharing that burden? Number two. You want to make sure you understand the rate that your pain. So is it, you know, is it within the benchmarks for your size plan and maybe within your industry? You want to understand? Are those fees percentage? Are they flat dollar? Are they per head fees? And then there's Airbase B, and then you understand how much everyone's getting paid as well. This is an industry where over the past several years we've had a lot more transparency that's been required, which is great, because that's gonna give you a better understanding of essentially how people are getting paid because incentives matter. So again, this is probably one of the most confusing areas with regards to retirement plans on. That's probably that way for a reason, because many people are probably hiding how much they're actually getting paid. But it's your job. Is a plan administrator representing the plants sponsor to make sure you have a firm understanding of who's getting paid, how much and then ultimately, how are those fees being paid, so make sure you really understand those things as well. 11. Educating your EES: all right, This next section would talk about How are you going to educate your employees now? We mentioned earlier about how important offering a 41 K is and how much less stress people have when they actually have access to a four. But you can't just offer a 41 K and expect that that financial stress to go away, you gotta make sure providing ongoing education to your employees as well. So this is going to kind of go back to a little bit of demographics once you have a great understand of your demographics and then the intention of 41 K That's really gonna help drive what type of education you provide your employees. So if you haven't distributed workforce, that's more than like that. You're going to be distributing now education through email through online sites, maybe through the mail. That's another way to do it. If you've got employees that are essentially located, it maybe it won office. Potentially on site education meetings, coupled with maybe one on one meetings, would be a better way to go. You really want to have a firm understanding the record keeper and adviser, what role they're gonna pay play in the educating of your workforce. How much assistance is your record keeper gonna provide And make sure you're getting that in writing somewhere. Same thing with your financial advisor. Are they gonna be coming on site once every four years when the Olympics happened or they gonna be coming on site on an angle basis to actually talk with your employees to make sure they understand the better of world? Okay, you want to make sure that these things are aligned and are basically congratulate with how your employees were going to basically digesting information from that You're going to coming from your company's Well, that's what you want to be aware of with regards to educating your employees. 12. Fiduciary responsibility : this next section. We want to make sure that you have a full grasp on what your fiduciary responsibilities are , you know, as a plan sponsor. And maybe it's someone that's gonna be a plan administrator. There's almost nothing more important you can do that, understanding what your fiduciary responsibilities are. So what I would advise you do when you're going through this process of redesigning your 41 K or in implementing a four Okay, Initially, for your organization or your company, you want to make sure that you sit down more than likely, this is gonna be with your third party administrator or with your financial advisor and really discuss What does it mean to be a fiduciary? What are your responsibilities? And if some of responsibilities you don't really want to kind of maintain, look for ways where you could maybe share that responsibility. Outsource it, Um, What have yet? But you want to make sure the end of the day you understand what your job is to administer this for one cake again. This is a very important benefit, and if you don't understand what your role is, it's gonna be really hard for your employees. to actually get a lot of value out of this benefit, So understand what your role is with regards to a fiduciary. 13. Conclusion: I want to thank you all for participating in the skill share class, redesigning your 41 K and this has really been a lot of fun for me. I want to kind of go through and go back and look at some things that we talked about this class and then also go through what the project was for. This class is well, so. First off, we discussed to always remember what your intention is with your 41 K plan to make sure you stay cognizant of what works and what doesn't work with your workforce from a communication and culture perspective. Number three. Keep in mind the types of financial advisors out there and asked for clarity on what their fees and services are. Number 41 of mind your plan expenses and have a firm grasp on what your pain relative to benchmarks and lastly, you want. Make sure fully understand your fiduciary responsibilities. So let's talk about real quick again. Revisit just what the project was for this class. So if you work for an organization that has an existing for a one K, your job from this is to take one or two items from this course and they use those to basically make your 41 K a little bit more valuable to your employees. You don't have a 401 k today. Your project for this course is to kind of take hopefully a few concepts and ideas and then use those when you're implementing your new for what? So those are the projects we have today. I would love to hear from you guys one thing that you got from this that was one valuable tidbit or concept down in the skill share comments below that you thought was really good item. Or, you know, there was something you didn't like. I would love to hear that as well. Going forward. If you have any questions, you can hit me up the skill share question and answer you also below this screen. You'll see my LinkedIn and Twitter profiles. You can connect with me that way as well. On. Lastly, I just want to thank you for watching this course. If you're like me and your time is most valuable assets. So the fact that you I decided to spend this time and your attention with me, I really, really appreciate this. If you've got any value from this course, I would just ask that you find one person. You know, even if there's someone you don't like and share this course with them, I would really, really appreciate that. Thank you very much.