ERISA requires plan fiduciaries to administer their plan with “procedural prudence.” We help plan sponsors meet this requirement by reviewing or establishing a committee charter, document parties in interest and plan fiduciaries, establish a plan review/service schedule and document meeting minutes for plan sponsors.

Document Retention and DOL Audit Ready File

Utilizing the proprietary Fiduciary Briefcase™  we will create an electronic repository of your plan documents, disclosures, investment reviews and committee meeting minutes to ensure that your plan documentation is DOL Audit Ready.

ERISA Section 3(21) and 3(38) Investment Services

We will help you develop a written Investment Policy Statement, which documents the investments the plan is permitted to offer and the criteria used to select and monitor each investment. We will perform a Fiduciary Investment Review™ on a scheduled basis, review the results with your committee, and make recommendations to change the investments offered by your plan when appropriate.

Most investment representatives are not able or willing to assume the legal responsibility of being a co-fiduciary. We offer 3(21) or 3(38) Co-Fiduciary Services which allows you to contractually delegate your significant responsibility and liability of selecting, monitoring and replacing investments. Remember, if your agreement with your current advisor does not specifically state that they are assuming a co-fiduciary role you are the first person responsible and personally liable for your plan’s investments.