The Prizant Group, Ltd.

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    • Services
    • Fiduciary
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The Prizant Group, Ltd.

The Prizant Group, Ltd.The Prizant Group, Ltd.The Prizant Group, Ltd.
  • Home
  • About
  • Services
  • Fiduciary
  • Case Studies
  • Publications
  • Contact Us

Fiduciary Obligations

  


ERISA imposes certain fiduciary obligations upon plan trustees. These obligations cannot be passed on to your financial advisor, record keeper or TPA. The burden is lessened with a 3(21) or 3(38) investment fiduciary BUT is NEVER totally erased. Trustees MUST be aware of their fiduciary responsibility as they could be personally liable financially for major missteps. The basic fiduciary tasks are:


  • Lowest Cost and Best Performing Mutual Fund, Exchange Traded Fund (ETF), Collective Investment Trust (CIT)
  • "Reasonable" and Level Total Plan Expenses 
  • Environmental, Social and Governance (ESG) Funds, Annuity, Robo Advice, Financial Wellness 
  • Employee Education
  • Investment Policy Statement (IPS)
  • Annual Trustee Meeting:  Design, IPS, Participant Cost and any issues
  • Obtain $1M of ERISA Fiduciary Liability Insurance Coverage for Trustees. 


 

All Plans Need These Components

Custodian

Record Keeper

Record Keeper

Accepts contributions, initiates trades and holds assets

Record Keeper

Record Keeper

Record Keeper

24/7 web-mobile access, enables participant changes, quarterly statements, loans, distributions, cyber-security with asset replacement guarantee

TPA-Bundled or Unbundled

TPA-Bundled or Unbundled

TPA-Bundled or Unbundled

Plan documents and amendments, ERISA compliance testing, profit sharing and/or matching contributions, prepare annual tax return (5500), 1099s and required ERISA participant plan notices

Investment Advisor

TPA-Bundled or Unbundled

TPA-Bundled or Unbundled

Fund monitoring, trustee meetings, employee education, 3(21) - 3(38) Fiduciary


 

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Copyright © 2020 The Prizant Group, Ltd. - All Rights Reserved.    

Advisory services offered through Capital Asset Advisory Services, LLC. A Registered Investment Advisor.


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