Retirement Plan Fiduciary Services

Our team of experts have developed a comprehensive system for helping employers stay compliant with their fiduciary obligations as retirement plan sponsors. Similar to our Compliance Auto-Pilot program, we can build out custom internal policies and procedures to proactively manage the compliance of retirement plans on behalf of our clients selecting this service. We can also support with timely 5500 filings, annual audit management, DOL audit preparation, etc.

Retirement Plan Fee Benchmarking

With the new fee disclosure requirements, employers are becoming more focused on understanding not only the straightforward fees related to their programs, but also the behind the scenes revenue-sharing of their programs. Our Fiduciary Benchmarks service pulls the electronic fee data at the provider level and performs a comprehensive benchmarking of the recordkeeping fees, trustee fees, advisory fees, revenue-sharing and fund level expenses, etc. This process segments each fee structure and then compares your fees with other plan sponsor fees in your same industry, geographic area and plan size. This is a great tool to support your annual fiduciary due diligence efforts.

Retirement Plan Provider RFPs

Our team is experienced at helping employers identify their top priorities and preferences with respect to their retirement plans. We build out custom RFP templates that are specific to your needs and can administer the full RFP and assist with interviews and final recommendations. Our process helps employers with the decision tree and scorecard matrix necessary to select the best in class providers specific to their own preferences and priorities.

Retirement Plan Fiduciary Framework Development

The fiduciary framework is a critical component for any plan sponsor. We support plan sponsors with an initial audit of the current fiduciary framework to determine where there may be gaps or overlaps. We then evaluate what documents need to be updated or developed. Such fiduciary framework includes but is not limited to the following:

  • Investment Policy Statements
  • Plan Documents (offered through appointed attorneys)
  • Charter Documents (offered through appointed attorneys)
  • Committee Minutes
  • Audit Preparation Packages
  • Fee Disclosure Documents
  • Fiduciary Benchmarks
  • Service Provider Contracts and Agreements

Retirement Plan Education Assistance

Our retirement plan education programs help employers with the development of custom communication pieces and presentations that support the ongoing education opportunities for your employees. Topics include everything from the basics of investing to the importance of rebalancing, diversification strategy, active versus passive management, etc. These communication pieces and presentations can be offered to a benefits team to provide themselves, or our teams can help support onsite education opportunities.