There are material risks in being an ERISA fiduciary and they need to be managed like any other risk in your business. Limiting fiduciary liability begins with establishing a prudent process of decision-making. You can count on RBA to provide relevant information and comprehensive, objective analyses that provide the foundation for informed and reasoned decision-making.
Plan Fiduciaries are legally responsible for the ongoing monitoring of the plan’s Service Providers. Are the current arrangements still appropriate in light of new developments in the industry or changes in regulations? Are the fees being paid reasonable in light of the work provided? We will assist you in meeting this obligation by providing the information to help you evaluate your plan’s providers and negotiate on your behalf when deemed appropriate.
As changes are needed or issues arise, we will act on your behalf in resolving problems or negotiating with your Provider(s). Our expertise and industry recognition gives us the ability to leverage your negotiating power.
It seems that the only constant in our industry is change. Plan Sponsors have been burdened with an overwhelming volume of legislation, making the continual review of your plan essential. We’ll keep you informed and up-to-date on industry trends and best practices, legislative news, and industry regulations and how they may impact your plan. We’ll oversee plan compliance and operations and provide technical advisory support.