Balancing Diversity and Simplicity
ERISA says that plan sponsors should provide participants with the opportunity to choose from a broad range of investment options in order to effectively diversify their accounts among the various options. Participants should be offered at least 3 different investment options…
Combining the great number of plan options with the vast universe of available investments can make plan design a complex undertaking. However, with the goal of maximizing outcomes for a diverse population of plan participants, our main objective is to assist our clients in simultaneously simplifying their plan design.
Plan Compliance and Governance
Plan fiduciaries accept personal financial liability associated with their roles in managing ERISA benefit plans. In order to mitigate this personal risk, every fiduciary needs to understand core ERISA requirements and be informed of the boundaries within which he or she must operate.
Why Plan Sponsors Hire Consultants
In making the decision to hire outside retirement plan consultants, there are three main objectives that plan oversight committees and plan fiduciaries consider. By “acting solely in the best interest of plan participants”, you can simultaneously accomplish these three goals.
How to Build and Run a Retirement Plan Committee
For any retirement plan, establishing an effective decision-making group fosters more diverse ideas and opinions. It also challenges the status quo to help create a more successful plan. That’s why an important first step in fulfilling plan governance requirements is establishing a retirement plan committee.
