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OUR SERVICES-401k

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401(k) PLAN MANAGEMENT as 3(38) & 3(21) ERISA FIDUCIARIES

OUR SERVICES

In today’s demanding regulatory environment, 401k plan sponsors and their trustees/ named fiduciaries are in search of solutions that maximize their investment process and minimize their liability.

We provide a turn-key solution that:
º Puts your firm in compliance with federal regulations;
º Provides a co-fiduciary to share in plan responsibility;
º Mitigates plan trustee risk (liability to plan trustees extends to personal assets);
º Provides access to Institutional Share class funds (lower costs);
º Gives you access to a $1m+ institutional platform from $1; and,
º Provides professionally managed asset allocations to your participants to assist them in reaching their retirement goals


Our 401k Solution

Today many 401(k) plan sponsors and trustees are becoming more aware of their fiduciary responsibilities to their plan participants. This increased awareness has been brought on by regulatory proposals that have now been enacted under ERISA law requiring plan fiduciaries identify, in writing, a statement of their fiduciary status and a detailed description of all plan related fees, among other things. The statement of fiduciary status and fee disclosure requirement has brought to light a number of concerns with covered plans, including:

º Excessive plan fees (at platform or mutual fund level);
º Significance of liability to plan trustees that extends to their personal assets;
º Need to document the decision making process;
º Requirement to hire a Qualified Third Party Expert

Our process, when implemented, allows us to serve as an ERISA 3(38) fiduciary. As such, we eliminate the liability that exists for plan trustees as it relates to the investment decision making process. This process is the most noted of all breaches of fiduciary duty by plan trustees during regulatory audits, thus leading to significant fines and penalties.

In addition to removing liability, our services include professional asset management for plan participants and ongoing advice delivered in conjunction to the education typically delivered by plan brokers.