Investment Consulting Group
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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