How to allocate and invest my defined benefit plan assets?
A: It is best to use the services of a fiduciary who meets the requirement of an ERISA Section 3(38) Fiduciary Service Providers. This is defined as an investment manager who meets all requirements to manage Defined Benefit Plans. This service involves asset allocation, investment selection and monitoring. Washington Crossing Financial Group meets this requirement and has been providing this service for over fifteen years. Contact us and learn how we can help your retirement plan.
What is a retirement plan fiduciary?
A: A Retirement Plan fiduciary is defined by ERISA as either a 3(38) Investment Manager or 3(21) investment Advisor. Washington Crossing Financial Group has over fifteen years of experience as retirement plan fiduciaries. Contact us and learn about our services.
Define a fiduciary who manages a company defined benefit plan?
- A: A: A fiduciary is defined as an investment manager that meets the ERISA Section 3(38) Fiduciary Service requirement. The financial planners at Washington Crossing Financial Group are fiduciaries meeting the ERISA 3(38) requirements and have done so for over fifteen years. Contact us and learn how we can help your retirement plan.
- Section 3(21) of ERISA defines a fiduciary as an individual who exercises any discretionary authority or control regarding the management of an employee benefit plan or the disposition of its assets. 3(21) also refers to an individual who renders investment advice in exchange for compensation and defines a fiduciary as someone with the ability to administer the plan.
Define a fiduciary who manages a company defined contribution plan?
A: There are two types of fiduciaries who manage defined contribution plans. Section 3(38) of ERISA applies to a fiduciary with discretionary controls of the plan’s assets. This means that a 3(38) can select, monitor and replace investments for the plan. The 3(21) fiduciary is a Co-Fiduciary and has all the same functions as a 3(38) except discretion and asset allocation. As a Co-Fiduciary the 3(21) makes plans decisions alongside the pension committee. Washington Crossing Financial Group serves as both a 3(38) and 3(21) ERISA Fiduciary.
What services does a fiduciary retirement plan consultant provide?
A: Washington Crossing Financial Group are Fiduciary Retirement Plan Consultants who provide a scorecard monitoring system, a health check/ benchmarking, and a virtual vault to store important plan documents easing audit requests. In addition, as a fiduciary retirement plan consultant, we also handle asset allocation, investment analysis and Request for Proposal (RFP) services.
Why do I need a fiduciary to manage my corporate retirement plan?
A: A crucial function of a plan consultant is to help organizations avoid serious compliance errors. These professionals help manage fiduciary duties and documentation to ensure that retirement plans are administered prudently and according to Employment Retirement Income Security Act (ERISA) rules. Contact Washington Crossing Financial Group to learn how we can help.
What is an investment policy statement?
A: The investment policy statement is the governing document for the investment portfolio of a client, written with a set of guidelines that are crafted to achieve certain objectives. Washington Crossing Financial Group can review your existing policy statement or help you craft one if necessary.
What is a fiduciary vault?
A: The fiduciary vault maintains a secure virtual vault to store all plan-related forms and documents in a centralized location, including plan reviews, meeting notes and announcements easing audit requests. Contact Washington Crossing Financial Group to learn how we can help.
