Group Retirement Plans

hyland_0000_iStock_000023336129SmallUnder the Employee Retirement Income Security Act of 1974 (ERISA), plan sponsors (company owners, HR directors, etc.) are held to a high standard of care relating to the decisions and administration of company retirement plans. Having a well-designed fiduciary process and more importantly, adhering to it, can give you confidence that you are complying with ERISA’s rigorous standards.

Our experience tells us that many companies do not fully understand their fiduciary responsibilities and are therefore unaware if they are managing their plan prudently. To help meet fiduciary responsibilities as set forth by ERISA, most employers will hire a retirement plan advisor. That advisor can serve in a 3(21) and/or 3(38) fiduciary capacity and help in critical areas such as:

Fiduciary guidance – best practices and solutions to help protect the fiduciaries of your plan

Fee benchmarking and vendor search – allows you to compare how reasonable and competitive your plan is in the marketplace as it relates to cost, services, and investment opportunities

Independent investment due diligence – provides you the ability to evaluate, select, and monitor funds without conflict of interest

Education – meet 404(c) requirements with adequate investment education for plan participants

Hyland Financial Strategies has the knowledge, background, and resources needed to address and meet your needs. We understand the various concerns that employers have and we look forward to providing the care and service that you, your company, and your employees deserve.