Fiduciary & Compliance Services
For ERISA plans, understanding and meeting your fiduciary and compliance obligations is a requirement, but it is also a best practice for non-ERISA plans to follow as appropriate. We can help you understand your obligations and best practices, and support you in meeting those obligations.
Overview of Your Fiduciary & Compliance Obligations
An administrator of an ERISA retirement savings plan is generally considered to be a fiduciary with regard to that plan. Being a fiduciary means that you have to meet certain standards, including that you:
- Act solely in the interest of plan participants and their beneficiaries for the exclusive purpose of providing them with plan benefits;
- Carry out your duties prudently; and
- Administer the plan in accordance with the plan documents unless those documents are inconsistent with regulatory requirements.
We provide consulting services and draft specimen and prototype documents, a critical requirement for most non-public plans going forward.
We offer investment policy consulting, investment menu design and investment review services to support you in meeting your fiduciary and compliance obligations around investments.
Our Compliance Coordinator and monitoring services can help you reduce risk and simplify meeting your obligations around hardship withdrawals, loans and other key areas.
We can help evaluate if your plan is meeting its stated objectives and create a plan to target areas for improvement. Our comprehensive plan financial reporting package is designed to simplify your IRS and DOL filings.