Fiduciary Guidance

ERISA holds plan fiduciaries to a high legal standard...the responsibilities of fiduciaries have been described as "the highest known to the law." [Donovan v. Bierwirth, 680 F.2d 263, 272 (2d Cit. 1982)] Obviously, not all fiduciaries have the skills needed to satisfy these high standards. Fortunately, ERISA permits fiduciaries, and in fact requires them, to get help when they need it.

Our Role as Fiduciary Consultant

• Independent qualified plan consultant – no proprietary investment products
• Establish Fiduciary Due Diligence Process; Draft and maintain the Governance Policy
• Voting / non-voting member of Oversight/Investment Committee
• “Quarterback” of Oversight/Investment Committee and overall plan coordinator
• Manage benchmarking/search process
• Manage all provider transitions
• Help create, update, and administer a targeted employee communications program
• Oversee the investment process: creation, IPS, monitoring, replacements, etc.
• Scheduled periodic fiduciary review presented to Oversight/Investment Committee
• Annual Review prepared and delivered to Oversight/Investment Committee
• Maintenance of fiduciary file
• Results of Good Fiduciary Practices
• Reduce personal and organizational risk through fiduciary process
• Reduce plan costs and expenses
• Reduce the burden on the company’s internal staff in running the plan
• Increase investment quality through consistent due diligence monitoring
• Increase plan sponsor and participant services
• Increase employee awareness and understanding of the plan

For information contact us.