fiduciary services


ERISA requires designation  of a plan fiduciary pursuant to ERISA section 3(16). In addition to selecting and monitoring plan affiliates and outsource parties, the 3(16) fiduciary duties include:

  • Determining eligibility
  • Ensure timely deposit of contributions
  • Interpret plan provisions
  • Approve or reject loans and withdrawals
  • Fix operational errors
  • Maintain records
  • Obtain and monitor Fidelity Bonds
  • Sign Plan Documents
  • File Form 5500
  • Provide participant disclosures and notices