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ERISA Compliance Associates,
LLC
Do you need assistance with your 401(k) or defined benefit plan? ERISA Compliance
Associates, LLC (ECA) assists retirement plan fiduciaries to succeed in managing
fiduciary risk and maximizing participants’ satisfaction with the plan.
With our extensive experience working with Indian Tribal Governments (ITG), ECA
can efficiently identify the most effective fiduciary governance system to meet
plan objectives.
The fiduciary laws under the Employee Retirement Income Security Act (ERISA), the federal law that regulates retirement plans, hold plan sponsors to a high standard, requiring that they exercise the “care, skill, prudence, and diligence” of an experienced fiduciary in fulfilling their duties. Known as the “prudent expert rule,” the Department of Labor (DOL) requires plan fiduciaries that do not have the expertise in-house to engage the appropriate ERISA experts.
ECA ensures that plan fiduciaries can prove they are meeting ERISA’s requirements to analyze, diversify, document, implement, and monitor their plans.
ECA generally begins our work with ITG plan sponsors by performing an
ERISA Fiduciary Compliance Review. Through this process, we identify
and document an action plan to target those areas of compliance we know
to be the focus of IRS and DOL scrutiny. The action plan might include
items such as the following:
• Establish operating procedures for the Plan Fiduciary Oversight Committee
• Provide ongoing Fiduciary Oversight Management as an active member of
the Plan Committee
• Implement Changes under the Pension Protection Act of 2006 (PPA ’06)
• Assist the Plan Sponsor in hiring 401(k) or Defined Benefit “Team” -
Investment Consultant, Fund Group (Recordkeeper) and Third Party Administrator
• Analyze and provide benchmarking information regarding plan fees
• Deliver Plan Administration and Fiduciary Education
Develop plan administration procedures
To learn more about our consulting services, please contact:
Mike Vander
Griend
Business Development
619-838-3413
mikev@erisallc.com
Please contact Christina or Jim if you would like to become a member of NAFOA