Spring 2010
Fiduciary Manager Now Available for 403(b) Plans
Your clients who are 403(b) plan sponsors may look to you to help them understand their fiduciary obligations. Others may not even be clear about who has formal fiduciary responsibilities.
That’s why The Standard has now made Fiduciary Manager available for 403(b) plans. Previously only available to our 401(k) plans, Fiduciary Manager is a self-contained binder of resources, tools and documents designed to:
- educate plan sponsors about the actions required of plan fiduciaries
- provide an organizational format for keeping track of the paperwork that proves they’re fulfilling those responsibilities
From Best Practices and Meeting Records to Participant Education and Due Diligence, Fiduciary Manager takes a step by step approach.
For example, the "Investment Policy Statement" section includes a brochure that provides a starting point for creating an Investment Policy and a place to file it. The "Compliance and Audits" section contains the annual schedule for conducting compliance testing, and a place to file a copy of Form 5500 and audits of the plan.
We’ve created two flyers, Fiduciary Manager and Inside Fiduciary Manager to explain the advantages and give an overview of the system. And check out our brochure Protecting Plan Participants for a comprehensive overview of fiduciary responsibilities with regard to plan participants.
You can also contact your Client Service Consultant at The Standard for copies and encourage your clients to take advantage of these new tools.