Establishing Your Retirement Plan Committee Charter

As retirement plan consultants we strongly encourage our clients to formally establish a Retirement Plan Committee. The establishment of a Committee may be formalized by adopting a Retirement Plan Committee Charter. This Committee Charter helps to protectthe named fiduciary, typically the Board of Directors, by delegating certain identified fiduciary responsibilities to the Committee. It protects … More Establishing Your Retirement Plan Committee Charter

3(16) ERISA Fiduciary Definition

Recently there has been an emergence of entities offering to provide ERISA Section 3(16) services. Plan sponsors may be interested in divesting themselves of Section 3(16) plan administrator responsibilities and there are questions regarding this concept and its perceived desirability. The unfortunate reality is that the advertisements, marketing material and articles (often written by interested … More 3(16) ERISA Fiduciary Definition

Locating Missing Participants

At one time or another all plan sponsors will likely be in the position of having to locate missing participants. This may be related to delivery of regulatory required communications, distributing of assets, or communicating fund changes to active and/or terminated participants. If the delivery of necessary communications is encumbered because a participant cannot be … More Locating Missing Participants

Join us for an Educational Webinar!

What Retirement Plan Sponsors Need to Know about the Department of Labor’s (DOL) Proposed Regulation for Defining an ERISA “Fiduciary” The DOL’s sweeping proposed regulation expands the universe of individuals who are subject to ERISA’s fiduciary standards when advising 401(k) plans and other qualified retirement plans.  This webinar will provide an overview of the proposed … More Join us for an Educational Webinar!

Why Advisors are Taking a New Look at Collective Investment Trusts

As many institutional investment advisors know, Collective Investment Trusts have been in existence since the 1970s. Yet today’s collective funds are becoming increasingly popular as plan sponsors and institutional investment advisors seek more efficient ways to provide plan participants with high quality/low cost investment options. What Has Changed There are two reasons for collective funds … More Why Advisors are Taking a New Look at Collective Investment Trusts

Determining Fee Reasonableness of a Retirement Plan Recordkeeper

The determination of reasonableness of fees has always been a core fiduciary function for ERISA plan sponsors. ERISA Section 408(b)(2) regulations increased scrutiny on this responsibility. The Department of Labor (DOL) has taken this step to solidify specific requirements for plan sponsors and service providers, regarding communication of fee information. Timing The genesis of these … More Determining Fee Reasonableness of a Retirement Plan Recordkeeper

Complying With ERISA 404(c)

According to ERISA, plans intending to comply with 404(c) must provide that participants: Have the opportunity to choose from a broad range of investment alternatives (which are adequately diversified); may direct the investment of their accounts with a frequency which is appropriate; and can obtain sufficient information to make informed investment decisions. The plan sponsor … More Complying With ERISA 404(c)