Fiduciary Governance & Stewardship
A process for sound Plan governance should be a top priority for employers offering retirement plans governed by ERISA. Examples of Plan governance include documented processes that ensures that plan investments are monitored, Plan provider fees are reasonable, and the Plan document is being followed, among a host of others.
We have the expertise to help address all fiduciary demands through our comprehensive team of accredited investment professionals, credentialed plan consultants and ERISA counsel.
- Assist in formalizing a retirement plan committee
- Assist in the development of a “best practices” program and process
- Train committee memebers on their fiduciary responsiblities
- Monitor and benchmark plan fees for all services providers
In order to most effectively manage the liability related to Plan investments we provide ERISA 3(38) investment management services. This relieves the trustee and other named fiduciaries from the liability related to the investment of the plan assets.
When serving as the investment manager under ERISA 3(38) we will:
- Have complete discretion and control over the investment options included in the Plan
- Accept the full burden of responsibility for the investment decisions and the related liability
For clients that desire the more limited protection of an ERISA 3(21) fiduciary we will:
- Provide investment consulting and advice to the retirement plan committee
- Recommend a menu of investment options based on the criteria contained in the investment policy statement
- Monitor the investment choices and notify the committee when a change is prudent