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Fiduciary Review Meetings with Plan Sponsors

There is no substitute for regularly scheduled, formal plan review meetings. Even with the best of intentions, it is nearly impossible to execute all the fiduciary responsibilities that come along with offering a qualified retirement plan without having plan reviews at least annually and preferably semi-annually or quarterly.

The following are items discussed in each fiduciary level plan review meeting and are in many cases duties required of all fiduciaries:

  • Investment portfolio and Investment Policy Statement (IPS) review
  • Employee education strategy review and planning
  • Pension legislation update and plan design review
  • Administration and recordkeeping review
  • Plan fee and fiduciary oversight review
  • Retirement readiness - Plan Level Gap Analysis

We understand that you have a business to run, but spending one hour a couple times per year is a small investment in a plan that for most of your employees is their primary source of personal retirement savings.

Argos Financial Group does the homework and comes prepared to guide a productive plan review with the retirement plan committee. Following are typical committee members, but the group can be as few as one and as many as ten:

  • Human Resources
  • CFO or Controller
  • Owner, President or other Executive
  • Union Representatives and/or select Managers

Retirement readiness is a core plan health determinant. With all the complexities within qualified plans today sometimes employers lose sight of the core reason for sponsoring a retirement plan.  A retirement plans purpose is to prepare employees for retirement.  This means preparing employees for retirement with enough assets so that they have the financial choice to do what they would like in retirement. Argos maintains a focus on this goal and uses Retirement Readiness as the primary guide for gauging plan success and developing education & plan design strategy.

Consulting services to retirement plans provided through the MML Plan Solutions Program of MML Investors Services, LLC.