How's your company's retirement plan performing?

David Lonibos
March 5, 2018
Early in the year is always a great time to evaluate the performance of your company’s retirement plan — and ensure all fiduciary responsibilities related to the plan are being met. Here are some questions to ask: 
 
  • As an employer and plan sponsor, are you confident you are fulfilling all of your fiduciary responsibilities with respect to the plan?
  • Does your plan cover all the needs of you and your employees?
  • In 2017, plan investments were up but so was the market. How did the investment options perform relative to their peers?
 
How's your company's retirement plan performing?

Meeting fiduciary responsibilities
An employer assumes certain legal responsibilities and liabilities in administering a retirement plan. These fiduciary duties are established to protect the plan participants and are set forth by the Employee Retirement Security Act (ERISA). They include, among other things, the selection and monitoring of the plan investments menu, monitoring plan expenses for reasonableness, and operating the plan according to the plan document. Fiduciaries who do not meet their responsibilities may be held personally liable.


Retirement Plan Services
Plan sponsors often look to third-party providers for a range of retirement plan services. In addition to fiduciary services and ongoing plan evaluation, some of these services include:
 
  • Plan design consulting
  • Investment selection and monitoring
  • Recordkeeping platform
  • Plan administration and compliance
  • Participant education  
 
Our team of local Retirement Plan professionals is dedicated to helping plan sponsors fulfill their fiduciary responsibilities and ensure their retirement plans are meeting the needs of their employees. We provide Retirement Plan Services to small businesses and large organizations across many industries. To learn more or schedule an evaluation of your 2017 plan performance, contact one of our Retirement Plan Services specialists at 1-800-651-9227.
 
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