What is a Trustee?
An individual or organization which holds or manages and invests assets for the benefit of another. The trustee is legally obligated to make all trust-related decisions with the beneficiary’s interests in mind, and may be liable for damages in the event of not doing so
What does The Fiduciary Studio do as part of Trustee Services?
- Ensure the Plan has a competent TPA, Investment Advisor and Custodian – annual review documented
- Ensure the Plan is filing government forms in a timely manner
- Ensure the Plan fees are reasonable based on services and value provided – annual review documented
Investment Committee and Review
-Ensure the Plan has an investment committee that meets annually for reviews
-Ensure the review is documented
Investment Policy Statement
-Ensure the Plan has an Investment Policy Statement that is reviewed annually
-Monitor Plan accounts to ensure timely deposits of Plan Participant Contributions and Employer contributions
-Ensure Plan Sponsor has sent required notices to Plan Participants
Plan Document Compliance
-Monitor timeliness of required Plan amendments and restatements
Form 5500 Services
-Review and sign 5500 Form and Attachments
-Arrange annual Plan review meeting with Plan Sponsor and fiduciaries
What is the cost?
Plan trustee services are custom priced.
Please contact us for more information.