Fiduciary Oversight

We help plan sponsors fulfill their fiduciary obligations set forth by ERISA.
  • Plan Reviews and documentation
  • Development and review of committee charter
  • Plan fee analysis and benchmarking
  • Employee communication assistance
  • Fiduciary training on legislative and regulatory issues
  • Review of plan/participant disclosures

As a plan sponsor, you are likely faced with many responsibilities when it comes to retirement plans. Complicating matters are the common challenges of poorly-defined roles and the lack of data, resources and time. Yet ERISA and other DOL regulations stipulate that plan sponsors and fiduciaries are held accountable for demonstrating proper diligence with the plan and acting in the best interest of the plan participant. It’s no wonder many plan sponsors feel uneasy about their level of liability as fiduciary.

According to Department of Labor’s guidance, a plan fiduciary should hire and monitor external experts if the sponsor lacks the expertise internally. DOL Regulation 2509.95-1(c)(6) states: “unless a fiduciary possesses the necessary expertise to evaluate such factors, he would need to obtain the advice of a qualified, independent expert.”

Our fiduciary oversight program was created to ease the burden placed on plan sponsors by offering ongoing, independent consulting. While you wear many hats, we wear one: retirement plan consulting. Our clients trust us with their fiduciary oversight because of our documented processes and expertise in mitigating their fiduciary risk.