Investment Consulting Group
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Factors Included in Fee Decisions
"Litigation has increased retirement plan sponsors' focus on plan fees, and they need to know all their choices to make the best decisions."
FIDUCIARY FITNESS REVIEW
The Department of Labor (DOL) requires plan fiduciaries to act solely in the interest of plan participants and beneficiaries. In addition, the DOL requires fiduciaries to carry out their duties with the skill, prudence and diligence of a prudent person familiar with such matters. These standards also guide most non-ERISA plans. Here is a quick check list to see if you are meeting these responsibilities.
1. Is your plan’s Investment Policy Statement current?
2. Are you proactively monitoring the managers against the Policy and against their peers?
3. Have you benchmarked investment and operations fees and expenses?
4. Have you evaluated Fee Leveling?
5. Have you evaluated Target Date Funds?
6. Are you limiting personal liability by following ERISA 404(c) and other industry best practices?
7. Are your plan documents and service agreements complete and up to date?
For more information please contact:
Mike Beczkowski, AIF, AIFA
Bolton Partners Investment Consulting Group, Inc. specializes in solutions for institutional retirement plans. We serve as a co-fiduciary under ERISA standards for our clients.
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"Caring and trusted market leaders, dedicated to the success of our clients’ retirement plans with continuous attention to best fiduciary practices, producing better potential outcomes for a safer and more secure retirement for your employees."
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36 South Charles Street
Baltimore, MD 21201
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