The prudent selection of an Independent Named Fiduciary is designed to focus on proper plan management and operation, thereby protecting the plan sponsor from future liability and expense.
We are an Independent Fiduciary with Experience and Strong Capabilities:
- ERISA Section 3(21) Investment Advisor for Investment Advice
- ERISA Section 3(38) Investment Manager for Discretionary Management
- ERISA Section 3(16) Managing Fiduciary to act as ERISA Plan Administrator
- ERISA Section 402(a) Named Fiduciary for Plan Administration and Plan Investment
We are the Primary ERISA Fiduciary Decision Maker:
- Named in plan document with discretionary power to manage the plan
- Responsible for day-to-day plan management, operation, and compliance
- Responsible for monitoring, terminating, and replacing 401(k) investment options
- Responsible for monitoring, terminating, and replacing service providers for the plan
We conduct an ERISA Section 408(b)(2) Fiduciary Self-Audit:
- Perform annual documented process and 401(k) plan fiduciary review
- Prepare requests for proposal and information and equalize vendor disclosures
- Identify revenue sharing, plan fees, excessive compensation, and service value
- Recommend qualified service providers and prudent investment fund alternatives
We create an ERISA Sections 3(21)/3(38)/3(16) Fiduciary Structure:
- Adopt plan fiduciary governance and oversight documentation
- Negotiate service provider fees and service deliverables for the plan
- Make fiduciary decisions and share plan governance with plan sponsor
- Manage plan administration and plan investment fiduciary responsibilities
- Submit quarterly fiduciary monitoring reports summarizing fiduciary decisions
- Issue annual certification letters providing a monitoring and documentation process
We are an ERISA Section 3(21) Investment Advisor:
- Acknowledge status as a full-scope investment advice fiduciary
- Assume responsibility for the selection of plan investment fund options
- Assume responsibility for investment advice and the execution of fund changes
- Plan sponsor is responsible for the continued retention of the investment advisor
We are an ERISA Section 3(38) Investment Manager:
- Full discretionary powers to select, monitor, and replace investment options
- Carry out investment objectives set forth in the investment policy guidelines
- Direct corporate trustee, custodian, and fund managers and monitor performance
- Plan sponsor is responsible for the continued retention of the investment manager
We are an ERISA Section 3(16) Plan Administrator:
- Review, execute, and timely file IRS Form 5500 Annual Report
- Review and approve audit report and execute management representation letter
- Execute plan document and amendments, and supervise IRS submission thereof
- Carry out responsibilities set forth in plan documentation and written procedures
- Negotiate, approve, and execute service provider agreements and monitor same
- Plan sponsor is responsible for the continued retention of the Named Fiduciary