Fiduciary Services
Serving and educating in important fiduciary roles
Our Fiduciary Services include…
Independent Fiduciary, Trustee, and/or Plan Administrator
JM Pension will assume the responsibilities as outlined in ERISA to assure compliance. This includes creating appropriate protocols, implementing those protocols and ongoing reporting and monitoring.
Compliance Officer
Ensure IRS/DOL requirements (ex: disclosure dissemination) are met and the plan operation matches written plan document and current tax law.
Service Provider Manager
JM Pension will manage service providers starting with the initial development of the Request For Proposal (RFP) through implementation of chosen providers, then ongoing monitoring and oversight.
Committee Chair/Member
Serve as a Committee Chair or member of the Retirement Plan Committee which includes coordination of regular meetings, setting established agendas, annual plan review, and appropriate documentation of meetings and decision-making processes.
What is a fiduciary?
Plan fiduciaries include Plan Trustees, Plan Administrators, members of the Board of Directors and members of Retirement Plan Committees. The primary responsibility of fiduciaries is to run the plan solely in the interest of participants and beneficiaries and for the exclusive purpose of providing benefits and paying plan expenses.
What is ERISA?
The Employee Retirement Income Security Act (ERISA), governed by the Department of Labor, protects your plan's assets by requiring that those persons or entities who exercise discretionary control or authority over the management of the plan and/or the plan assets, or provides investment advice to a plan for compensation are subject to fiduciary responsibilities. ERISA outlines standards of care fiduciaries must take in exercising their responsibility. Fiduciaries who do not follow these standards of care may be personally liable to restore any losses to the plan.
Why hire JM Pension for fiduciary services?
Knowing the numerous rules, as well as following precise procedures and processes, can mitigate breaches or errors from occurring .JM Pension has extensive experience in providing fiduciary services and educating fiduciaries in their important roles and responsibilities as required under ERISA.