Services Further Defined

fiduciary

Consulting group


Level #1 – Project Engagement (sample list)

  •  Training & education    
  1.   Sponsors, board of directors, trustees, committees
  2.   Broker/dealers, RIAs, industry service providers, institutional clients, etc.
  • Initial risk assessment
  • Periodic plan compliance reviews
  • Annual DoL 408(b)(2) compliance analysis and documentation
  • RFP / Market analysis and benchmarking
  • Client need specific

Level #2 – Consulting Services (sample list)

  • Fiduciary Compliance Consulting
  • Plan Management / Operations
  • Administrative Oversight Assistance

Level #3 – Delegated Responsibilities (sample list)

  • Plan management & operation tasks
  • Oversight of fiduciary compliance processes
  • Participation in or manage plan committee meetings
  • Documentation of fiduciary activities, actions & decisions
  • Development / Oversight of Investment Policy
  • Delegated specific duties quarterly and annually
  • Oversight of plan service providers
  • Annual DoL 408(b)(2) compliance analysis and documentation
  • Preparation of OR manage the plan audit file
  • Monitoring of services& expenses
  • Discretionary Trustee services
  • Limited scope 3(16) administrative fiduciary responsibilities

Level #4 – Outsourced Plan Management (sample list)

  • Plan Sponsor transfers management & compliance responsibilities
  • Named fiduciary in the plan document
  • 3(16) Plan Administrator
  • 402(a) Named Fiduciary
  • Responsible for accuracy and filing of Form 5500
  • Responsible for mailing all notices and disclosures
  • Responsible for approving and signing off on all plan distributions
  • Oversee all service providers
  • Interpret the provisions of the plan document
  • Oversee timely deposits of plan assets
  • Operational & administrative management duties
  • Appoint other fiduciaries as prudent and appropriate