Employees Employers

Retirement Icon

Fiduciary Liability Management

Do you understand your fiduciary responsibility of your retirement plan? Plan sponsors must meet several requirements, according to the Employee Retirement Income Security Act of 1974 (ERISA). You have a business to run, and BCI Retirement can help. We will support your efforts to keep your employee benefit plans compliant with ERISA and the Internal Revenue Code.

We'll help you understand the requirements and coach your investment committee to avoid pitfalls. We also provide investment committee training, plan support, participant education, provider monitoring and assistance with documentation.

Investment Due Diligence

Retirement plan fiduciaries and company sponsors have to develop and maintain strong investment due-diligence programs. We'll help you validate and document your plan's investment strategy.

The BCI Group proprietary system independently and systematically assesses your investments and fund managers for benefits, viability and risks. The systematic approach helps demonstrate your due diligence toward reducing your risk of liability.

Employee Education

The money your employees set aside in retirement plans will be important to their retirement income. Educating employees effectively is essential to helping them retire successfully. Our goal is to help your people maximize the opportunity you provide them, while getting a head start on enjoying their ultimate retirement.

We analyze your employee demographics, their comfort with technology and their financial understanding. We develop a plan from this analysis, review your existing employee materials, coordinate your plan enrollment and develop custom communication and promotion programs using tools such as onsite enrollment, education meetings, webinars, online demos, flyers, payroll stuffers and posters.

Fee Benchmarking and RFP Services

As a plan fiduciary, you must comply with ERISA standards. You must document your diligence in selecting service providers and investments. You must also document the fees you pay, and informing employees of those fees. The BCI Group fee benchmarking process lets you easily compare plans, including total plan cost, investment performance and services provided.

Request for Proposals (RFP) Services

Because retirement plans change, BCI Group recommends reviewing your plan every few years. An RFP can validate the fairness in service you receive for your money. We'll help define your RFP process by analyzing your initial needs with a simple questionnaire to determine your criteria and goals.

We analyze your employee demographics, their comfort with technology and their financial understanding. We develop a plan from this analysis, review your existing employee materials, coordinate your plan enrollment and develop custom communication and promotion programs using tools such as onsite enrollment, education meetings, webinars, online demos, flyers, payroll stuffers and posters.

 

This information was developed as a general guide to educate plan sponsors but is not intended as authoritative guidance or tax or legal advice. Each plan has unique requirements and you should consult your attorney or tax advisor for guidance on your specific situation. In no way does advisor assure that, by using the information provided, plan sponsor will be in compliance with ERISA regulations. 

Stay up on all the latest with The Retirement Writeup blog by Nick Kralj

Read the blog

Talk to us. We can help.

Get in Touch