Our Process

PROVEN STRATEGIES

Learn How Fiduciary Retirement Services Works

Our experts have developed a well-proven system to help manage your company's 401k investment plans.

Individual Planning

We recognize that our clients are different, and therefore we don't use a "one-size-fits-all" strategy. We work closely with our clients to identify unique needs & challenges and solve them.

Compliance

We carefully maintain our records and ensure that your retirement solutions are always within the bounds of local, state, and federal compliance laws. Rest easy with Fiduciary Retirement Services.

Education

We make it our priority to ensure every involved party is well-educated - from management to individual contributors. We believe that education is one of the key factors for retirement success.

1. EDUCATE COMMITTEE MEMBERS

The committee should be educated on requirements and their roles/responsibilities at least annually and as needed. Fiduciaries must make well-informed decisions with respect to investments, service providers, and administration.

2. REVIEW PLAN DOCUMENTS & ID FICUCARIES

The Plan Document will identify the Fiduciaries and specify how the plan is to be administered.

The committee should review at least annually and identify any voting and non-voting members.

3. EVALUATE THE NEEDS OF THE PLAN/PARTICIPANTS

If plan assets are used to compensate service providers, Fiduciaries must ensure the services are necessary for the operation of the plan.

The committee should periodically evaluate the needs of the plan/participants.

4. CONFIRM STATUS OF SERVICE PROVIDERS

Fiduciaries must receive and review written disclosures from certain “Covered Service Providers” (CSPs); otherwise, the arrangement is a prohibited transaction.

The committee should confirm CSP status, as necessary, receipt of required disclosures and fees for services are properly paid from plan assets.

5. SELECT & MONITOR CSPs

Fiduciaries are required to review and approve arrangements with CSPs to ensure:

1) the services are necessary, and

2) the terms and compensation are reasonable.

The committee should periodically investigate the experience of CSP, nature/scope of services, participant satisfaction, etc. and benchmark value received.

6. COORDINATE REPORTING

Fiduciaries must deliver certain disclosures to plan participants and file reports with DOL/IRS. The committee should confirm requirements, calendar deadlines, and determine the role of CSPs assisting in the preparation and distribution of required disclosures and reports.

7. MAINTAIN COMPLIANCE DOCUMENTS

Fiduciaries must maintain documentation to support decisions made and compliance with requirements. The committee should confirm that disclosures and reports were timely filed and that documents are maintained to demonstrate:

  • Participant contributions, distributions, and loans have been properly processed
  • Eligibility and vesting determinations are accurate and participants have received required disclosures
  • Non-discrimination testing has been completed and appropriate actions were taken
  • Governing documents are signed and current.

8. MONITOR INVESTMENTS

Fiduciaries should establish and periodically review Investment Policy Statement (IPS) to confirm preferences selection, monitoring, and replacement of:

  • Designated Investment Alternatives (DIAs)
  • Qualified Default Investment Alternatives (QDIAs), if necessary
  • Designated Investment Managers (DIMs)

9. REVIEW PARTICIPANT COMMUNICATION POLICIES

Fiduciaries need to take steps to regularly make participants aware of their rights and responsibilities under the plan related to directing their investments. In most cases, they must receive this information before they can first direct their investments and annually thereafter.

The committee should coordinate and monitor the delivery of investment-related information to all eligible employees.

10. MONITOR & DOCUMENT

Fiduciaries have an ongoing duty to monitor, among other things, the following:

  • Fiduciaries and committee members are educated and understand their roles and responsibilities;
  • The plan is administered and operated in accordance with the Plan Document;
  • Services provided to the plan are necessary;
  • Expenses are properly paid from plan assets and CSP disclosures are current;
  • CSPs are delivering services in accordance with the terms of their arrangements, and fees paid to CSPs continue to be reasonable in light of the value received;
  • All notices and required disclosures/reports are timely and accurately delivered;
  • Compliance documentation is retained and current;
  • Investments are selected, monitored, and replaced in accordance with the plan’s IPS; and
  • Participants receive sufficient information from which to direct the investment of their individual accounts.

OUR WORKING PROCESS

We Make Business Better By Delivering Reliable 401k Solutions

Plan Evaluation

Our "validate or expose" process will clearly show where your plan is succeeding or failing. We'll review your objectives and concerns and analyze your plan fees, performance, service, and suppoort.

Plan Optimizer

We conduct a feasibility study to ensure you're maximizing the tax benefits of your retirement program for both your company and your employees.

Fiduciary Shield

We help control the risk you face as a plan fiduciary by developing and maintaining your plan Investment Policy Statement, monitoring and managing your investment options, and acting as a 3(21) or 3(38) fiduciary.

RFP Manager

We act on your behalf as an independent advisor. We'll gather and shift through your plan proposals to help ensure your employees receive the absolute best 401(k) wealth-building tools and experience.

Paychecks for Life

We manage every step of the transition from your current retirement program to your new program. We'll enroll your employees and educate them on building wealth for retirement and creating paychecks for life.

360º Monitor

We manage the health and welfare of your retirement program over its lifetime, advising you on regulatory changes, program enhancements, and investment due diligence.

Document Retention Fiduciary File Map

Maintaining accurate records and properly documenting decision-making processes are the primary responsibilities of retirement plan fiduciaries.

This document retention file map, when combined with a proper plan committee structure, will help support fiduciary compliance and create an exam-ready fiduciary file covering three primary categories.

Plan Documents Should Be Retained...

  • For at least six years unless they are used to support the provision or denial of benefits;
  • Contracts between the plan and its service providers should be retained for the lifetime of the arrangement + six years;
  • Fiduciaries should document the information considered and the basis for all fiduciary decisions; and
  • An exam-ready fiduciary file can help to avoid or streamline DOL investigations or IRS audits.
TRANSPARENT PRICING. ZERO MARKUP. ZERO HIDDEN FEES.

We reduce the costs, risks, and complexities in
managing your company’s 401K plan

We provide high-quality and trusted 401k management services for companies looking to attract & retain employees while lowering their liability.

Our Approach

Since we’re compensated through fees only (not commissions) from our plan and private clients, we have no incentive to recommend any specific 401k plan service providers, investments, or solutions.

Our Mission

To streamline the 401k implementation and management process while providing maximum returns on investment for both companies and their employees.