Employer Sponsored Retirement Plans
Acting solely in the interest of plan participants and their beneficiaries and with the exclusive purpose of providing benefits to them;
- Carrying out their duties prudently;
- Following the plan documents (unless inconsistent with ERISA);
- Diversifying plan investments; and
- Paying only reasonable plan expenses
However, fiduciaries can limit their liability in certain situations. One way fiduciaries can demonstrate that they have carried out their responsibilities properly is by documenting the processes used to carry out their fiduciary responsibilities.
Many of the actions involved in operating a plan make the person or entity performing them a fiduciary. Using discretion in administering and managing a plan or controlling the plan’s assets makes that person a fiduciary to the extent of that discretion or control. Providing investment advice for a fee also makes someone a fiduciary. Thus, fiduciary status is based on the functions performed for the plan, not just a person’s title.
Do you know the total costs for your plan and employees?
- Detailed fee analysis
- Monitoring of provider’s costs and services
When is the last time you reviewed the investments in your plan?
- Regular Investment Committee meetings
- A consistent and prudent analysis process
Does your plan meet your corporate and/or personal goals?
- Employer match and profit sharing analysis
- A customized approach
Are you going above and beyond to help educate your employees?
- Annual education meetings
- Dedicated one-on-one time with each employee
We take pride in helping you coordinate the administrative aspects of your retirement plan. Our Financial Wellness programs allow us to serve as a valuable resource to your employees.
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