How We Can Help You Meet Your Fiduciary Obligations

Managing a 401k or 403b plan comes with significant fiduciary duties and responsibilities. Are you confident you are meeting all of your obligations as a plan sponsor?

As dedicated fiduciaries, we partner with organizations to help fulfill their fiduciary roles and promote participant success. Here are some of the ways we can help strengthen your fiduciary practices:

Educating Your Committee on Fiduciary Principles

A strong foundation of fiduciary training is critical for any plan committee. That’s why we provide customized fiduciary training programs in Arizona and across the country. Our workshops cover core fiduciary principles and best practices for governance, oversight, and process.

We’ll ensure your team understands their roles and responsibilities when it comes to planning and decision-making. With the right fiduciary training for management in place, your committee will be well-equipped to make prudent decisions in the best interest of participants.

Conducting a Full Benchmarking Analysis

How does your 401k or 403b plan stack up against the competition? We’ll complete a full benchmarking analysis comparing your plan to industry peers on cost, services, investment options, and more.

This data-driven approach helps identify areas for improvement specifically aligned to your fiduciary obligations. You’ll gain insights into how your plan is performing on key benchmarks and fiduciary best practices compared to plans of similar size and demographics.

Optimizing Your Investments and Monitoring Performance

Are your plan’s investments truly aligned to fiduciary standards? We’ll help construct an investment menu that meets the “prudent investor” rule under ERISA. This includes implementing a structured process for overseeing funds, replacing underperformers, and ensuring proper diversification.

Ongoing monitoring is key – we’ll establish a watchlist for funds that require extra diligence. This robust oversight process will help optimize your plan’s investment lineup over time.

Managing Vendors and Fees Impartially

As fiduciaries, it’s critical to manage plan vendor relationships ethically and transparently. We institute structured Request for Proposal (RFP) processes to select recordkeepers and vendors objectively based on merit. You’ll benefit from our experience negotiating reasonable fees and services that truly benefit your plan and participants. We keep only your best interest in mind.

Ready to Strengthen Your Fiduciary Practices?

As fiduciary advocates, we’re ready to partner with you in meeting your obligations fully. Contact Omega Investment Management today to learn more about our customized fiduciary training programs. Let’s work together to help secure your participants’ financial futures.

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