Qualified Plan Services for Financial Sponsors
As independent fiduciary advisors to numerous qualified plans, we are regularly involved in conducting diligence reviews as to the reasonableness of investments, level of fees, and compliance-related issues. Fees being charged to participants under plans, whether directly or underlying the investment return, have come under significantly more scrutiny in the last several years by both the Internal Revenue Service (IRS) and the Department of Labor (DOL). As a result, litigation attorneys are being hired by participants to establish legal claims relating to the prudence of investments, adherence to general fiduciary responsibility standards, and compliance with the provisions of Section 404(c) of ERISA.
Simply said, trustees are increasingly being subjected to legal claims related to “fee reasonableness” and adherence to fiduciary requirements and the accountability penalties have proven to be substantial in many cases.
Fiduciary
Fiduciary duties can be intimidating! Our Investment Advisor Representatives at The Greensage Group work in tandem with you and are able to assume the role of a 3(21) fiduciary. Our team will review your plan quarterly to help ensure you are consistently meeting the requirements set forth by ERISA codes 404(a) and 404(c).
Services
- Diligence Reports (Fee/Compliance & *Binding Legal Opinions)
- Monthly Service Logs
- Quarterly Stewardship Reporting
- Annual Benchmarking & Contract Review
- Plan Sponsor Education
- Employee Education Presentations with Current Economic Updates
*Legal opinions provided by Gary A. Nagler, PLLC. Gary A. Nagler, PLLC, is not affiliated with the Greensage Group or LPL Financial.
This information is not intended as authoritative guidance or tax or legal advice.
Retirement Plan Consulting Program Advisory Services offered through LPL Financial, a registered investment advisor.