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Why you should regularly evaluate your company's retirement plan

April 30, 2019
David Lonibos
David Lonibos
It's always the right 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?
  • 2018 reflected an increase in market volatility with three market corrections. In addition, for the first time in the last 50 years, all asset classes included in the typical asset allocation structure produced negative results with the exception of core bonds, which were flat.* How did the investment options perform relative to their peers?
Why you should regularly evaluate your company's retirement plan 

Meeting fiduciary responsibilities
An employer assumes certain legal responsibilities and liabilities in administering a retirement plan. These fiduciary duties exist to protect the plan participants and are established under 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 2018 plan performance, contact one of our Retirement Plan Services specialists at 1-800-651-9227.
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*Richard L. Chauvin, Jr. CFA®, Director of Investments
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