There are many different fiduciary responsibilities associated with a company retirement plan. Depending on your needs, we can fill any one (or all) of the responsibilities outlined below:
- Selecting, monitoring, and negotiating fees with other service providers of the plan
- Working with the payroll department to ensure the proper compensation is being used and that all deposits are made timely
- Ensuring timely distribution of all participant notices such as SPD’s, SAR’s, QDIA notices, etc.
- Documenting who the plan Fiduciaries are and ensuring they understand their responsibilities
- Calculating the fees paid for the plan and ensuring they are reasonable
- Signing and submitting the 5500
- 402(a) Named Fiduciary – we are legally responsible for everything else not outsourced to another Fiduciary
- Committee Facilitator – we will create agendas, facilitate meetings, and take the proper minutes in a non-fiduciary role.
- Committee Member – we will serve as a voting member of the Committee in a Fiduciary role.