Fiduciary Issues and Investment Liability
Fiduciaries may be held personally liable for a breach or violation of ERISA standards. This liability may include restoring lost profits or opportunities resulting from poor Plan performance.
Many fiduciaries assume that their retirement plan provider will take care of all ERISA requirements, but this is usually not the case. While your provider will offer you a menu of investment options, it is up to you to select and monitor the choices available to participants (hence the liability).
Monitoring Your Investment Options
We pay attention to fiduciary duties and will help you meet ERISA standards and fulfill your duty to monitor the Plan, including performing an annual review. We will evaluate your Plan’s investment options by reviewing:
- Investment performance
(on an absolute and risk-adjusted basis)
- Style consistency
- Investment manager and organization changes
- Expense ratios
Retirement Plan Services Offered
We differentiate ourselves by providing value-added services at no additional cost. We can work on a fee-for-service basis or as your broker of record. We offer:
We can help you improve upon your existing Plan or help you search for a new vendor, if necessary.
- Current vendor analysis
- Fiduciary risk assessment
- Comprehensive vendor search and selection process summarized in a clear report of findings
- Creation of an Investment Policy Statement
- On-site employee enrollment and educational meetings designed to increase participation
- Due diligence filing system
- Ongoing monitoring of investment options
- Assistance with Investment Committee meetings
The Benefit to You and Your Employees
By utilizing industry “best practices,” we believe the result is less risk to your employees (with the goal of larger account balances at retirement) and less personal liability and fiduciary risk for you as the employer.