Plan sponsors have fiduciary obligations to their plan participants. Fulfilling those obligations is a long-term endeavor that requires up-to-date knowledge and an ongoing commitment to ensuring compliance and documenting decision-making. Executing these responsibilities and avoiding liability can be burdensome.
At Bridgehaven, our team understands that most retirement plan sponsors and committee members – those most likely to have fiduciary obligations under the law – are not experts on the various legal requirements or asset management. We provide our clients with a variety of administrative oversight services that can alleviate these burdens.
These services include:
- Hardship distribution withdrawal and QDRO determinations
- Discrimination Testing and Form 5500 review
- Compliance testing support
- Annual IRS/DOL audit support
- Required notice and fee disclosure compliance