Fiduciary vault
Description
A program to help you manage key fiduciary responsibilities
As a plan sponsor, you have important responsibilities and are subject to specific standards of conduct. Everyday 401(k) by J.P. Morgan offers affordable ERISA 3(38) investment management services through Mesirow to help manage your fiduciary duty.
This includes carrying out your fiduciary duties prudently — one of the central responsibilities under ERISA — and diversifying plan investments. It also requires expertise in investment selection, ongoing monitoring and due diligence. With that in mind, we offer you tools and best practices to help you build your Fiduciary vault.
Investments and reporting
When you outsource 3(38) fiduciary services, best practices include creating a well-diversified investment lineup and reviewing investments quarterly. Mesirow built a custom lineup for the Everyday 401(k) by J.P. Morgan, which includes diversified asset classes and J.P. Morgan SmartRetirement target date funds. In addition, you will receive quarterly reports to assist in the ongoing monitoring of investments.
Investment lineup
Mesirow investment review
Templates and tools
Everyday 401(k) by J.P. Morgan provides you with access to templates, tools, and best practices to help you build your fiduciary vault.
Investment Policy Statement (IPS)
An IPS is a blueprint for a retirement plan’s investment selection and monitoring process, and outlines the goals of the Investment Committee in selecting an investment lineup. We have built an IPS template for Everyday 401(k) by J.P. Morgan plan sponsors to use and adopt as their own.
Investment committee best practices
An Investment Committee helps provide a clear, investment decision-making process that is documented, repeatable and sustainable. This guide will help you with the most important aspects to consider when setting up an Investment Committee.
Investment committee meeting agenda
It is important to have an agenda for each Investment Committee meeting, even when there are no changes that have been made. Download the template to see what a sample meeting agenda might look like.
Investment committee meeting minutes
In addition to an agenda, each Investment Committee meeting should also be accompanied by a detailed set of meeting minutes. Here is a template that can serve as a guideline for what meeting minutes could look like.
Why outsource your fiduciary role?
Mesirow 3(38) Fiduciary Services help plan sponsors using Everyday 401(k) by J.P. Morgan alleviate some of the responsibility associated with being a plan fiduciary, creating time and capacity to focus on running their business and managing other important plan aspects.
Other key benefits include:
- Legal protection ― Mesirow is well capitalized to defend all claims within the scope of its fiduciary duty and provides indemnification for plan sponsors.
- Extra layer of independent fund due diligence ― Our proprietary PrecisionAlpha® process can effectively evaluate a manager’s true potential for success and active level of risk.*
- Simplicity ― Mesirow oversees a diversified investment lineup designed to help you and your employees save for a secure retirement. This is complemented by quarterly reporting which is easy for plan sponsors to understand.
- Expertise ― As the industry pioneer of outsourced fiduciary services, Mesirow has been providing fiduciary services since 2006; our investment team of PhDs, CFAs, and MBAs have developed a prudent, tested process for supporting the investment selection and ongoing monitoring and due diligence of retirement plan investments.