Fiduciary vault for plan sponsors
Description
As a retirement plan sponsor, you are a fiduciary
This means that you have important responsibilities and are subject to specific standards of conduct, including carrying out your fiduciary duties prudently ā one of the central responsibilities under ERISA. The Supreme Court ruled that plan fiduciaries are required to conduct regular reviews of plan investments and have a continuing duty to monitor investments and remove imprudent ones. Hiring Mesirow can be a prudent decision, as we are a third-part fiduciary providing the services the Court reaffirmed a fiduciary is responsible for performing, so our clients can focus on running their businesses. With that in mind, we offer you tools and best practices to help you build your Fiduciary vault.
Investments and reporting
Mesirow investment review
When you outsource 3(21) and/or 3(38) fiduciary services to Mesirow, you will receive critical quarterly reports that assist in the ongoing monitoring of investments.
Templates and tools
Mesirow 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 planās investment selection and monitoring process, and outlines the goals of the Investment Committee in selecting an investment lineup. We offer IPS templates for you to use and adopt as your 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.Ā¹
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's Fiduciary Partnership Services help plan sponsors 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.
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Other key benefits include:
- Legal protection ā 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 ā Our proprietary PrecisionAlphaĀ® process can effectively evaluate a managerās true potential for success and active level of risk.2
- Simplicity ā 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 ā As the industry pioneer of outsourced fiduciary services, Mesirow has been providing fiduciary services since 2006; our investment team of PhDs, CFA charterholders and MBAs have developed a prudent, tested process for supporting the investment selection and ongoing monitoring and due diligence of retirement plan investments.