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Experts in Custom Retirement Plan Design & Administration

Custom Fiduciary Charter


In today’s increasingly litigious society, plan sponsors often focus on risk and liability management principles when designing benefit plan fiduciary structures. Benefit Plans Plus takes a different approach by focusing on the responsibilities to plan participants and beneficiaries through our Custom Fiduciary Charter process.

Fiduciaries must act prudently and for the exclusive benefit of plan participants and beneficiaries. A Custom Fiduciary Charter by Benefit Plans Plus is based on our philosophy that by focusing solely on its participants, a plan can implement appropriate training, systems and prudent processes to meet fiduciary requirements. Focusing on this legally mandated principle should generate greater participant satisfaction, enhanced risk management and improved administration.

We work in partnership with each client to identify all plan fiduciaries, determine their obligations and analyze fiduciary systems and processes to verify compliance. We then design a Custom Fiduciary Charter to provide a guide for continuous fulfillment of the fiduciary duty to protect plan participants and assets.

During our engagement, we may perform the following:

  • Fiduciary Review: Review systems and procedures to ensure that the plan and fiduciaries comply with applicable laws and regulations. Helps clients immediately identify, address and contain any problems.
  • Fiduciary Governance and Structuring: Design a system and procedures to ensure plan personnel, operations, meetings and policies satisfy fiduciary standards.
  • Fiduciary Training: Design and provide basic and advanced training in fiduciary principles for directors, Boards of Trustees, ERISA and investment fiduciaries. We will also custom design a curriculum for client or plan specific needs.The transfer of knowledge to client’s personnel will ensure the ability to maintain prudent fiduciary processes.

Why Should I Engage Benefit Plans Plus? Fiduciaries must recognize their duties and exert their best efforts to fulfill them. Our highly qualified team, in alliance with nationally recognized partners, delivers participant-focused services. A Custom Fiduciary Charter by Benefit Plans Plus will make A Measurable Difference by helping clients to identify fiduciary weaknesses, establish prudent systems and minimize future problems or violations.