The Retirement Readiness Institute provides Trustees with the highest level of moral, ethical and prudent decision-making processes. The Role of the Fiduciary is Active, Not Passive. While the Trump presidential win raises the probability of the new “Fiduciary Rule” being modified, hard working Americans have come to learn that their employer is responsible for operating their retirement plan in their best interests and can be held accountable if they don’t. No plan is to small to be sued.
The Retirement Readiness Institute, an advocate for plan sponsors and participants alike is “The Alternative Professional Plan Sponsor Solution (TAPPSS™).”
The Institute, neither a TPA nor record-keeper, maintaining complete independence, has the potential to reduce plan sponsor liability to the lowest potential levels allowed by law, undertaking one of the broadest ranges of fiduciary responsibilities in the entire financial services industry.
Plan Trustees can significantly reduce their fiduciary liability, depending on their preference for engaging a
- 3(16) plan level fiduciary, having discretion over both fiduciary and non-fiduciary plan sponsor ministerial responsibilities (not to be confused with a TPA), including service provider monitoring and replacement,
- 3(38) plan level fiduciary, having discretion over the management and disposition of plan assets, and a
- 3(38) participant level fiduciary, providing participant level investment advice.
Under a 3(21) fiduciary “adviser” relationship a plan sponsor may only minimally, if at all, reduce its fiduciary liability because it retains full and final control over all administrative and investment decisions.
Improving a plan does not necessarily require a plan conversion, but can often be improved with a better understanding of service provider fee arrangements and better utilization of existing service provider services.
YOUR PATH TO PRUDENT DECISION MAKING AND PLAN OPERATIONS
As a Registered Fiduciary™ we accept responsibility for all ERISA fiduciary duties and responsibilities other than a few clearly identified functions that ensure protection against the potential abuse of plan assets and a few others that should only be conducted by the employer.