Fiduciary Fitness Training

/Fiduciary Fitness Training
Fiduciary Fitness Training 2018-04-09T12:36:39+00:00

Fiduciary Fitness Program™

The Fiduciary Fitness Program™ is an independent compliance tool that measures the health of a retirement plan. Our program provides resources to help identify potential weaknesses in a plan and remedy those weaknesses through education, diligence and improved processes.

Fiduciary Fitness ProgramRetirement plans require prudent governance by plan sponsors and fiduciaries. We developed the Fiduciary Fitness Program as a well-designed decision-making process to confirm and document proper roles and execution of responsibilities in a prudent manner.

Program Goals

  • Identify plan fiduciaries and understand the extent of their specific responsibilities
  • Attempt to comply with ERISA §404(a) and §404(c)
  • Document the hiring process for service providers
  • Identify parties in interest to the plan and take steps to monitor transactions
  • Understand major exemptions under ERISA that permit transactions with parties in interest
  • Review plan documents in light of current plan operations and make necessary updates
  • Comply with reporting and disclosure requirements
  • Ensure that individuals are properly bonded and covered by liability insurance and more

BEST PRACTICES APPROACH

The Program offers a holistic approach to fiduciary best practices, and encompasses key deliverables, education and documentation modules:

  • Fiduciary Diagnostic™: Demonstrates what plan sponsors and fiduciaries need to address and documents plan management responsibilities
  • Fiduciary Plan Review: Examines plan design and documents prudent processes
  • Education Modules: Contain 20+ education modules on topics from fiduciary responsibilities to employer securities, real property, and mergers and acquisitions
  • Documentation Modules: Create positive evidence that fiduciaries’ activities meet their responsibilities under ERISA and the Internal Revenue Code

To learn more about the Fiduciary Fitness Program or to request a proposal, please contact mark.hegstrom@waterfrontfinancialgroup.com, and check out our Fiduciary Responsibility page.

Do you have Fiduciaries who would benefit from training?  Training is two hours and held quarterly.  It is for HR personnel, CFO/Controllers, Investment Committee members and Business Owners who are 401(k) Plan Fiduciaries.  The cost is $69, and includes the program, handouts and light refreshments.  The training is from 9:00 am to 11:00 am.  Click on the box below to register.  We will send you a confirmation email.  Please bring payment to the training; checks should be made out to “Waterfront Financial Group.”

Sign up for the Fiduciary Fitness Training Program

5500 Wayzata Blvd. Ste 1040, Minneapolis, MN 55416 | 952.236.1755 | waterfrontfinancialgroup.com

This information was developed as a general guide to educate plan sponsors, but is not intended as authoritative guidance or tax or legal advice.  Each plan has unique requirements, and you should consult your attorney or tax advisor for guidance on your specific situation.  In no way does advisor assure that, by using the information provided, plan sponsor will be in compliance with ERISA regulations.

This material was prepared by rpag.com.