Managing your organization’s 401(k) plan can be a daunting task. In addition to deadlines and commitments, you must satisfy your fiduciary responsibilities. The bar is set high as you’re expected to oversee a plan which offers flawless recordkeeping, superior investment performance and low cost. Every decision you make can impact your employees’ lifestyle in retirement. ERISA laws require you to exercise the prudence and skill of an “expert.” If not, you face penalties that are not only severe, but also personal. Fines can be equal to the loss or opportunity cost, with an automatic 20% surtax. The threat of litigation is ever-present. How will you document your prudence?
By acting as an extension of your team, Flathers Wealth Management helps retirement plan sponsors oversee the management of their investments. We provide our clients with the knowledge necessary to make informed decisions that can help improve plan effectiveness, reduce expenses and meet your fiduciary responsibilities.