Retirement Plan Committee Responsibilities
Chris Strother, AIF, CPFA
SVP Retirement Plan Services
FOR PLAN SPONSOR USE ONLY. Pensionmark® Financial Group, LLC (“Pensionmark”) is an investment adviser registered under the Investment Advisers Act of 1940. Pensionmark is affiliated through common ownership with Pensionmark Securities, LLC (member SIPC).
Topics of Discussion
Plan Sponsor Responsibilities Overview
Plan Governance & Documentation
Selecting & Monitoring Investments
Selecting & Monitoring Service Providers
Plan Administration & Reporting
Employee Engagement & Financial Wellness
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Plan Sponsor Responsibilities
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Plan Governance & Documentation
FOR PLAN SPONSOR USE ONLY. Pensionmark® Financial Group, LLC (“Pensionmark”) is an investment adviser registered under the Investment Advisers Act of 1940. Pensionmark is affiliated through common ownership with Pensionmark Securities, LLC (member SIPC).
Definition of “Fiduciary”
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Regulatory Guidance
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Document Retention Guidelines
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Sample Fiduciary File
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Monitoring and Selecting Investments
FOR PLAN SPONSOR USE ONLY. Pensionmark® Financial Group, LLC (“Pensionmark”) is an investment adviser registered under the Investment Advisers Act of 1940. Pensionmark is affiliated through common ownership with Pensionmark Securities, LLC (member SIPC).
Regulatory Guidance
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Process for Selecting, Monitoring and Replacing DIAs
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Documenting Prudent Investment Choices
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Adopting an Investment Policy Statement (IPS)
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Frequency of Review
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Working with Advisors & Consultants
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Selecting & Monitoring Service Providers
Retirement Plan Committee Responsibilities
©2017 – Pension Resource Institute, LLC – All Rights Reserved.
Pensionmark Financial Group, LLC (“Pensionmark”) is an investment adviser registered under the Investment Advisers Act of 1940. Pensionmark is affiliated through common ownership with Pensionmark Securities, LLC (member SIPC).
FOR PLAN SPONSOR USE ONLY. Pensionmark® Financial Group, LLC (“Pensionmark”) is an investment adviser registered under the Investment Advisers Act of 1940. Pensionmark is affiliated through common ownership with Pensionmark Securities, LLC (member SIPC).
Regulatory Guidance
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Regulatory Guidance
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Documenting Prudent Service Provider Choices
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Additional Considerations
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Monitoring Service Providers
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Cycle for Selection & Monitoring
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Process for Selecting Service Providers
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Collaboration with Advisors & Consultants
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Administration & Reporting
Retirement Plan Committee Responsibilities
FOR PLAN SPONSOR USE ONLY. Pensionmark® Financial Group, LLC (“Pensionmark”) is an investment adviser registered under the Investment Advisers Act of 1940. Pensionmark is affiliated through common ownership with Pensionmark Securities, LLC (member SIPC).
Overview of Plan Governance
©2017 – Pension Resource Institute, LLC – All Rights Reserved.
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Regulatory Guidance
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Regulatory Guidance
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Required Participant Disclosures
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Required Participant Disclosures
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Required Participant Disclosures
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Government Filings
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Working with Advisors & Consultants
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Employee Engagement & Financial Wellness
FOR PLAN SPONSOR USE ONLY. Pensionmark® Financial Group, LLC (“Pensionmark”) is an investment adviser registered under the Investment Advisers Act of 1940. Pensionmark is affiliated through common ownership with Pensionmark Securities, LLC (member SIPC).
The Financial Education Gap
Let us help your employees set a path for retirement, stay focused and productive, instead of spending time at work worrying about finances.
% of Employees interested in benefit % of Employers offering benefit
Employees want help and employers are coming up short.
Source: MassMutual Workplace Benefits Study 2018.
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Financial Wellness For All Learning Styles
RetireConnect: Our comprehensive educational newsletter and webinar campaigns delivered directly to your employees to help them stay updated on retirement and market trends.
Personal Financial Portal: Our Personal Financial Portal (PFP) offers your employees a simple and secure location where they can monitor the financial components of their life, allowing them to make more informed investment and lifestyle decisions.
Financial Wellness Call Center: Our registered and bilingual specialists are there to ensure your employees can find the answers they need, when they need them via email or phone (call center hours are Monday through Friday from 7:00 a.m. to 7:00 p.m.).
Online Education: Our online Education Resource Center offers a variety of interactive tools and resources such as educational videos, webcasts, financial calculators, articles, and newsletters, and more to help individuals navigate their financial choices.
Group and Individual Consultations: We can offer a wide variety of topics that may be delivered on-site or via webinar by licensed and bilingual representatives.
Social Media: Our social media sites are designed to provide individuals with the most up-to-date retirement plan news, event announcements, articles, and a wealth of other informative content.
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Employee Advice & Planning
SMARTMap Financial Advocates may assist employees with:
Financial Advice & Planning Services through SMARTMap
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Thank You
FOR PLAN SPONSOR USE ONLY. Pensionmark® Financial Group, LLC (“Pensionmark”) is an investment adviser registered under the Investment Advisers Act of 1940. Pensionmark is affiliated through common ownership with Pensionmark Securities, LLC (member SIPC).