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Meeting your fiduciary responsibilities can be a complex process. Plan sponsors and other fiduciaries have a solemn responsibility to protect the interests of the workers and retirees in their benefit plans.  The Department of Labor’s program “Getting It Right – Know Your Fiduciary Responsibilities” provides employers and plan officials with an understanding of the law and their responsibilities and will focus on steps for avoiding the most common problems that the Employee Benefits Security Administration (EBSA)  encounters in its enforcement activities.

Once you understand your fiduciary responsibilities, you need a process in place to ensure you fulfill your responsibilities on an annual basis. Research Financial Strategies provides ongoing guidance and comprehensive Plan Sponsor Binder that organizes your retirement plan documentation.

We also help control risk by developing a formal investment policy statement and establishing clear criteria for selecting and monitoring investment managers. 

Fiduciary Assessment

Research Financial Strategies has partnered with Fi360, whose mission statement is:  “To promote a culture of fiduciary responsibility and improve the decision-making process of investment fiduciaries.” 

We will run a Self-Assessment of Fiduciary Excellence (SAFE)that is intended to:   

(1) analyze how well your plan’s fiduciaries meet a defined global fiduciary standard of excellence; and 

(2) assist your plan’s fiduciaries to improve the plan’s long-term investment performance

This process will contribute to a more successful retirement program and mitigate potential fiduciary problems.