YOU ARE A FIDUCIARY… There it’s said and we can move on… To What??
Plan-Level 3(21) & 3(38) Plan Fiduciary Services
Investment Policy Statement
CCRS will review with Sponsor the investment objectives, risk tolerance and goals of the Plan. If the Plan does not have an IPS, CCRS will provide recommendations to Sponsor to assist with establishing an IPS. If the Plan has an existing IPS, CCRS will review it for consistency with the Plan’s objectives. If the IPS does not represent the objectives of the Plan, CCRS will recommend to Sponsor revisions to align the IPS with the Plan’s objectives.
Designated Investment Alternatives
Based on the Plan’s IPS, CCRS will review the investment options available to the Plan and will make recommendations to assist Sponsor with selecting DIAs to be offered to Plan participants. Once Sponsor selects the DIAs, Advisor will, on a periodic basis and/or upon reasonable request, provide reports and information to assist Sponsor with monitoring the DIAs. If the IPS criteria require a DIA to be removed, CCRS will provide recommendations to assist Sponsor with replacing the DIA.
Qualified Default Investment Alternative
Based on the Plan’s IPS or other guidelines established by the Plan,CCRS will review the investment options available to the Plan and will make recommendations to assist Sponsor with selecting the Plan’s QDIA(s). Once Sponsor selects the Plan’s QDIA(s), Advisor will provide reports and information, on a periodic basis and/or upon reasonable request, to assist Sponsor in monitoring the QDIA(s). If the IPS criteria require a QDIA to be replaced, CCRS will provide recommendations to assist Sponsor with evaluating replacement QDIA(s).
RETIREMENT PLAN CONSULTING SERVICES
Administrative Support
Assist plan sponsor in reviewing objectives and options available through the plan
Review plan committee structure and administrative policies/procedures
Recommend participant education and communication policies under ERISA 404(c)
Assist with development/maintenance of fiduciary audit file and document retention policies
Deliver fiduciary training and/or education periodically or upon reasonable request
Coordinate and reconcile participant disclosures under 404(a)(5)
Develop requirements for responding to participant requests
Oversight of Relationship with Service Provider
Assist fiduciaries with a process to select, monitor and replace service providers
Assist fiduciaries with review of Covered Service Providers (“CSP”) disclosures under ERISA 408(b)(2) and fee benchmarking
Provide reports and/or information designed to assist fiduciaries with monitoring CSPs
Review ERISA Spending Accounts or Plan Expense Recapture Accounts
Assist with preparation and review of Requests for Proposals and/or Information
Coordinate and assist with CSP replacement and conversion
Investment Monitoring & Reporting
Periodic review of investment policy in the context of plan objectives
Assist the plan committee with monitoring investment performance
Provide analysis of investment managers and model portfolios
Review and recommend Designated Investment Managers and/or third-party advice providers as necessary
Educate plan committee members, as needed, regarding replacement of DIA(s) and/or QDIA(s)
Participant Services
Facilitate group enrollment meetings
Coordinate employee education regarding plan investments and fees
Assist plan participants in understanding plan benefits, retirement readiness and impact of increasing deferrals
401K Pension Defined Benefit Non Qualified Deferred Compensation
Pensionmark Financial Group, LLC (“Pensionmark”) is an investment adviser registered under the Investment Advisers Act of 1940. Pensionmark is affiliated through common ownership with Pensionmark Securities, LLC (member SIPC). Compass Corporate Retirement Solutions and Pensionmark Financial Group LLC. are unaffiliated entities.
Compass Corporate Retirement Solutions is a 401k and pension plan fiduciary ERISA design and plan communication specialist.
Serving Houston, Dallas San Antonio and Austin, TX