Are you fulfilling all of your responsibilities as a retirement plan fiduciary? Unless you pay close attention to the details of your plan and know that it is complying with the federal ERISA statute, you could be leaving yourself and your organization open to a lawsuit.

A Fiduciary Assessment is a report card measuring how well you are living up to your obligation to act in the best interests of your retirement plan’s participants. It also determines whether you are keeping the necessary records to prove you have conducted yourself properly in your role as a steward of your plan. It provides a written attestation by our firm, a Registered Investment Advisor and investment fiduciary, stating that your are living up to your obligations to plan participants.

Even if you do not directly control your retirement plan’s investments day-to-day, you are still responsible for the investment activities covered in our Fiduciary Assessment. Our goal is to ensure your plan is compliant and to limit your exposure to any legal claims asserting failure in your obligation as a Trustee.

The benefits of Cornerstone’s Fiduciary Assessment include:

  1. A rigorous, documented effort by an independent expert to uncover procedural missteps, thus limiting your legal liability.
  2. Independent verification that your plan’s practices are in conformity with the Prudent Investment Practice for Investment Stewards, which are recognized applications based on federal retirement law, government-agency regulations and court rulings.
  3. Assurance that the asset classes and investment styles of your plan’s investment options are prudent and offer a broad diversification.
  4. Assurance that your process for researching your plan’s asset classes is prudent.
  5. An explanation of all plan fees, with recommendations about how they can be lowered.

Other than Fiduciary Plan Management – our services are not just to participant directed qualified plans. We provide services to different types of Trustee directed investments such Profit Sharing Plans, Defined Benefit Plans, Endowments and Non Profits. The Fiduciary Assessments cover all of the Fiduciary types of Portfolios.