Fiduciary Responsibility

Does your Plan Provider…….
  • Act as Your Co-Fiduciary?
    A Co-Fiduciary is an individual, corporation or association holding assets for another party, often with the legal authority and duty to make decisions regarding financial matters on behalf of the other party.
     
     
  • Provide you with an Investment Policy Statement?
    An Investment Policy Statement is a written statement that provides the fiduciaries who are responsible for the plan investments with guidelines or general instructions to various types of investment management decisions.
     
     
  • Disclose ALL of your Mutual Fund Fees?
    Information and disclosures that are to be provided to participants automatically in advance of investment. A description of any transaction fees or expenses charged to the participant for purchases or sales (e.g., commissions, sales loads, etc.)
     
     
  • Offer Unbiased Investment Choices?
    ERISA Code section 404(C) clearly states that the beneficiary or plan participant must have the opportunity to: choose from a broad range of investment alternatives, give investment instruction, diversify investments within and among the investment alternatives and obtain sufficient information to make informed investment decisions with respect to investment alternatives available under the plan.
     
     
  • Provide ALL Employees with periodic educational seminars?
    ERISA Section 404c says companies that sponsor a 401(k) plan need to provide sufficient investment diversity within the plan, supply all persons eligible to participate in the plan with adequate information about 401(k) investing and the company plans' 401k investments.
     
     

If you answered NO to any of these questions you and your company may have a potential issue regarding Fiduciary Responsibility. Call us today to schedule a plan checkup.