As a plan sponsor, your fiduciary responsibilities include selecting a broad range of investment options from which your plan participants can choose.
Phocus Retirement Services will provide 3(21) co-fiduciary advice services:
- Review, update, or create the Plan’s Investment Policy Statement (IPS);
- Monitoring of investment options – We will review investment option performance and utilize a set of criteria to evaluate the investment options on an annual basis.
- Assist your plan’s investment committee in its review and documentation of all plan investments against their appropriate benchmarks at least annually;
- Provide guidance on selecting a Qualified Default Investment Alternative (QDIA);
- Provide appropriate sample communication materials to plan participants when investment option changes are made;
- Conduct investment committee meetings at least once per year to review and benchmark current investment options