Westport Benefits Group
7 Pheasant Lane
Westport, CT 06880
t: 203 227 3738
f: 203 571 1272
Knowing and following the Prudent Investment Practices identified by the Center For Fiduciary Studies is an important first step in producing a highly successful retirement plan. Westport Benefits Group can help get you on the right path with a Fiduciary Review.
The Review covers five major areas:
- A review of the documents that define your 401(k) plan's provisions (Please provide copies of the Adoption Agreement, and Summary Plan Description for the Plan).
- A review of the vendor contracts from your insurance company, mutual fund, or bank.
- A review of your Investment Policy Statement to include: (a) basis for asset mix and rebalancing limits; (b) criteria for selecting money managers; (c) control procedures for money managers and consultants; (d) procedures for controlling and accounting for investment expenses; and (e) performance measurement criteria.
- A review of the documents that show Total Plan Contributions, Total Number of Participant Account Balances, Discrimination Test Results, Total Plan Assets Breakdown, and most recent form 5500.
- A review of the investments offered in your plan: (a) the due diligence procedures that you followed in selecting your money managers and/or mutual funds; (b) the appropriateness of the managers/funds relative to your asset allocation; and (c) a snapshot of current performance of each of the managers/funds against their appropriate peer group and relevant industry benchmark. (Please provide documents on the most recent performance of your investments, as well as a listing of all of their investments that includes performance, and share class or expense ratio.)
Want to know where YOUR plan stands? Contact us today!