Experts in Personalized Retirement Plan Design & Administration

Benefit Plans Plus Launches Fiduciary Health Check

ST. LOUIS (August 18, 2008) In response to market demand, Benefit Plans Plus, LLC has developed the Fiduciary Health CheckTM to help retirement plan sponsors and other fiduciaries understand and fulfill fiduciary responsibilities owed to their retirement plans. Failure to adopt fundamental practices could result in regulatory intervention and potentially significant personal liability for plan fiduciaries.

Benefit Plans Plus helps clients take the prudent approach by focusing solely on the interests of plan participants and their beneficiaries according to Partner, Patrick Shelton, GBA.

In response to market demand, Benefit Plans Plus, LLC has developed the Fiduciary Health CheckTM to help retirement plan sponsors and other fiduciaries.

“Our ‘snapshot’ assessment of current fiduciary compliance structures and processes immediately identifies opportunities, improves procedures and documentation – saving our clients time and expense,” saysShelton. “Too often we find errors that could have easily been prevented. The Fiduciary Health Check gives clients peace-of-mind and assurance their retirement plan is working order and they are utilizing best practices.”

The Fiduciary Health CheckTM includes:

  • Identifying fiduciaries (named and functional)
  • Plan document review (terms of plan, eligibility, distribution options and model amendments)
  • Required employee communications (disclosures, safe harbor, reporting, QDIA notices, salary reduction notices & multiple statements)
  • Vendor specific review of products, features and tools
  • Compliance testing (ADP, ACP, etc.)
  • 5500 (timely contributions & proper filing)
  • Insurance coverage review (fidelity bond, fiduciary insurance policy)

Additional consulting services include:

  • Fee analysis (total plan cost including billed fees, investment expenses, asset charges, record keeping)
  • Plan design (contribution efficiency and after-tax cost)
  • Fiduciary compliance management (corrections assistance, vendor & advisor searches)
  • Fiduciary investment process review (investment policy, monitoring, diversification and performance

As an incentive to review plan compliance Benefit Plans Plus is offering a 25 percent discount for all Fiduciary Health Checks initiated by the end of September.

To get the Fiduciary Health CheckTM started Benefit Plans Plus will need the following information:

  • Plan documents and amendments
  • Adoption agreement
  • Summary plan description
  • 5500 (Most recent filing)
  • Current employee communication(s)/Notices
  • Vendor service agreement(s)
  • Compliance testing (Most recent)
  • Fiduciary or Fidelity Bond Insurance coverage

About Benefit Plans Plus

Benefit Plans Plus, LLC offers customized retirement plan design and administration, fiduciary compliance management and consulting services for retirement plans. Through our unique offerings including the Fiduciary Health CheckSM and the SBO 401k we serve more than 480 clients nationwide. Benefit Plans Plus holds the Centre for Fiduciary Excellence, LLC (CEFEX) recordkeeper certification for third party administrator services and the American Society of Pension Professionals and Actuaries (ASPPA) seal of service for provider excellence — the top recognitions in the industry. In addition, Our well credentialed team of retirement plan experts boasts more than 16 years experience each. For more information about Benefit Plans Plus, a subsidiary of Brown Smith Wallace, LLC, visit or call 314.983.1200.

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