Guiding 401(k) sponsors in effective planning.
Qualified retirement plan sponsors face complex challenges. A plan trustee is expected to be knowledgeable about and adhere to the highest standards of fiduciary care, while also understanding and complying with ERISA rules and regulations. So, in addition to managing your business day-to-day, as plan trustee you must also be an expert in investments and regulatory compliance (or hire someone who is).
We serve as a prudent expert for trustees of Defined Contribution (DC) plans like 401(k) and 403(b) plans, and Defined Benefit (DB) plans (including Cash Balance plans). We provide all key trustee duties, including:
Development and regular review / updating of key plan documents, especially the Investment Policy Statement (IPS)
This critical document provides a “playbook” for plan trustees to guide the plan’s investment activities and protect them from charges of fiduciary breach of conduct. Emery Pike of our staff is a notable expert in this area who wrote the “model” IPS template for use by the membership of PSCA (Plan Sponsor Council of America), which represents America’s largest retirement plans.
Due diligence and monitoring of plan investments
Since our firm is independent and 100% employee-owned, we can provide unbiased guidance with no conflicts of interest. We use highly sophisticated and specialized software programs to analyze and rank all funds available to a plan. More importantly, we can pinpoint weaknesses in any fund line-up and recommend changes to improve investment performance.
Full Plan Cost Analysis (Benchmarking) of Service Providers
Recordkeepers, third party administrators, and investment consultants/managers all have different price/value propositions and service delivery models. We help trustees understand how their service providers stack up against the competition and explore alternatives if changes can benefit the plan.
Together with your plan’s Custodian and Recordkeeper, we strive to deliver an institutional-grade solution that is robust, well vetted and low cost, enabling your employees to save for the future with confidence and helping your business thrive.
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