A retirement plan requires careful adherence to key Department of Labor guidelines for liability protection.
Forté has been in the Defined Contribution business since 1996. So we know where compliance and value-added service meet. First, some basics…
Every retirement plan in the U.S. is subject to the rules and regulations of the Employee Retirement Income Security Act (“ERISA” or “the Act”) and the Department of Labor. In the Act there are very straight forward requirements which your company’s plan must abide by in order to avoid the liability of improper management:
- A written plan that describes the benefit structure and guides day-to-day operations;
- A trust fund to hold the plan’s assets;
- A recordkeeping system to track the flow of monies going to and from the retirement plan; and
- Documents to provide plan information to employees participating in the plan and to the government.
As a qualified fiduciary partner in your plan, Forté is required to oversee your plan’s operations according to the following criteria:
- Acting solely in the interest of plan participants and their beneficiaries with the exclusive purpose of providing benefits to them;
- Carrying out their duties prudently;
- Following the plan documents (unless inconsistent with ERISA);
- Diversifying plan investments; and
- Paying only reasonable plan expenses.
Under ERISA, Forté Capital is defined as a fiduciary advisor for your 401(k) plan because we offer investment advice tailored to each Plan Participant’s circumstances and risk tolerance.
While legal compliance for 401(k) Plans is crucial, it’s not enough to bring maximum benefit to Plan Participants.
Why Forté? Our proven retirement plan management services leverage our role as your fiduciary advisor and educator to improve Plan participation and performance.
Forté’s management of your 401(k) Plan can make a meaningful difference as we…
- Guide the definition of your Plan’s investment objectives and policies,
- Formulate a written Plan Investment Policy statement, and revise this as needed,
- Conduct due diligence on Mutual and Index Funds,
- Coordinate Plan design with the Record Keeper,
- Conduct Trustee meetings,
- Continuously monitor the Plan’s performance and asset allocation,
- And keep a close watch on Plan costs.
Beyond these investment-oriented services, we also offer H.R. support including:
- Employee education through comprehensive market, economic and Plan review presentations,
- Give employers the service option of one-on-one meetings between Forté team members and Plan Participants.