Fiduciary Support

Section 404(c) of the Employee Retirement Income Security Act of 1974 (ERISA) outlines voluntary guidelines that a plan sponsor should follow. If followed, these requirements effectively transfer the potential liability associated with investment decision-making responsibilities from plan sponsors to employees who participate in a defined contribution plan such as a 401(k) plan.

The key requirements are that plan sponsors must:

Prudently select and monitor plan investment options
Provide appropriate investment choices and information enabling participants to make educated decisions
Document that all participants receive such information

Sequoia Benefits' Retirement Consultants help you fulfill your fiduciary responsibilities. The checklist below is an example of our due diligence action items that help you stay compliant.