Program Benefits

Fiduciary Services

Services to Help Meet Fiduciary Responsibilities

Retirement Gateway® can assist business owners with one of their biggest concerns — potential liability for plan investment matters. Support for fiduciary responsibilities in selecting and monitoring investment options is available through an agreement with an independent investment advisory firm.

  • 3(21) Foundation Series — Included in Retirement Gateway®, the independent investment advisory firm takes the responsibility for selecting appropriate investment options for each asset category. The independent investment advisory firm acts as investment advisor, and fiduciary, as defined in ERISA Section 3(21)(a)(ii). The independent investment advisory firm's recommended changes in the investment lineup can be executed automatically, if this service is selected and follow the recommended guidelines.
  • 3(38) Premier — As an optional benefit, for an additional fee, the independent investment advisory firm will have full decision-making authority on the investment options for the plan. All investment option changes are executed automatically. Under ERISA Section 3(38), the independent investment advisory firm agrees in writing that it is an investment fiduciary with responsibility for investment selection and monitoring.
  • Currently the two independent advisory firms available in the Retirement Gateway offering are Wilshire Investment Services and SWBC Investment Fiduciary Services.

The Support Team

The highly trained and knowledgeable Retirement Program Specialist will work closely with employers to establish a plan and make sure it continues to meet their business needs and retirement plan goals and objectives. Retirement Program Specialists are supported by a large and experienced group of retirement plan experts:

  • Plan Design Specialists — assist employers in developing customized plan design recommendations based on their unique situation and employee demographics, as well as objectives.
  • Plan Implementation Team — works to accelerate the conversion process and minimize any disruptions.
  • Personal Retirement Plan Account Manager — is available to answer questions concerning plan administration, recordkeeping and transaction processing.

Additional Support for Plan Sponsor Fiduciary Role

In addition to the independent advisory services, the following tools and support are available to assist plan sponsors in their fiduciary role.

  • Fiduciary EducatorSM — Online self-learning tool that can help plan sponsors manage their fiduciary obligations and mitigate their exposure - protecting them and their employees.

    Through a series of short, informative videos, Fiduciary EducatorSM helps plan sponsors understand:

    • Who is a Plan Fiduciary?
    • Consequences of a breach of fiduciary obligations.
    • Due diligence and procedural prudence.
    • Employee Communication.
    • How to alleviate and shift fiduciary burden.
  • Fee disclosure — Retirement Gateway® will provide fee disclosure information, in accordance with Department of Labor regulations.
  • Safe Harbor provisions for plan investment selections — ERISA Section 404(c) provides optional liability protections when participants are considered to have exercised independent control over the assets in their accounts. The investment options offered through Retirement Gateway® can satisfy these provisions. In addition, Retirement Gateway® offers several investment options that meet ERISA 404(c) guidelines for Qualified Default Investment Alternatives (QDIAs)-the default investment options when employees do not indicate how they wish to invest.
  • Additional Tools — Retirement Gateway® provides additional tools, including a Fiduciary Guidebook, which includes checklists for employee communications, documents and dates, plan review guidelines and much more, to help manage fiduciary responsibilities and document and review plan decisionmaking.
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