Fiduciary Checklist for ERISA Plans

Fiduciary Risk Management

If you are concerned about complying with the numerous existing regulations that govern your Plan or keeping up with new requirements, you are not alone! We understand your responsibilities as a plan fiduciary and can help you manage these concerns.

A fiduciary process assessment is our typical starting point. We work with you to identify your plan fiduciaries and persons performing non-fiduciary, administrative tasks. The duties and responsibilities assigned to each group are discussed, and this information is compared with your written policies and procedures for accuracy and completeness. Then, we develop a list of tools and ongoing support to help you keep your plan on track.

It is essential that each person serving as a plan fiduciary understands their duties and obligations. It is also crucial for administrative personnel to avoid performing any tasks which could cause them to inadvertently attain fiduciary status.

TrueNorth’s ongoing fiduciary risk management support services include:

  • Investment Committee Charter / identifies roles and responsibilities
  • Administrative Charter / documents non-fiduciary functions
  • Ongoing fiduciary training
  • Legislative and regulatory updates
  • DOL and ERISA Fiduciary Checklists / helps keep tasks on time and records complete
  • Newsletter (six issues per year)
  • Education Policy Statement and Education Plan
  • Comprehensive fee benchmarking reports
  • ERISA Section 3(21) Fiduciary Services
    • Investment Policy Statement / investment selection and review process
    • Investment Menu Design
    • Investment Monitoring
    • Performance Reports