3(16) Fiduciary Management Solutions
FCG PROVIDES SERVICES FOR THE FOLLOWING TYPES OF CLIENTS:
• Corporate / Manufacturing / Industrial Firms
• Professional Services Firms
• Government / Municipal Entities
• Healthcare Organizations
• Non-profit Organizations
• Educational Entities
• Multiple Employer Plans
• Prevailing Wage Plans
• Registered Investment Advisers
• Institutional Clients
Fiduciary duties are typically defined as relating to decisions and/or actions that affect the financial situation of the participants and beneficiaries covered by the plan.
Additionally, when plan sponsors establish a qualified retirement plan they must declare in the plan document the named plan administrator, named trustee, and named fiduciary. Frequently the named plan administrator is designated as the plan sponsor, which means that the governing entity of the plan sponsor has ultimate responsibility for the operation of the plan (Board of Directors, etc). As such, the plan sponsor as an independent legal entity (unless it is a sole proprietor), must designate an individual, or individuals, who are to perform the functions associated with managing the plan as named or functional fiduciaries. The ultimate governing entity, (Board of Directors, etc.), typically maintains the fiduciary responsibility to monitor the actions of named or functional fiduciaries.
Fiduciary Consulting Group, Inc. accepts the role of 3(16) Named Plan Administrator and Named Fiduciary assuming the role of the Plan Sponsor for the day to day operation, management, and monitoring of the Retirement Plan.