FIDUCIARY AUDIT PACKAGE
Fiduciary Oversight
If you are a corporate executive, CFO, HR Professional or Plan Trustee responsible for your companies retirement plan there is no doubt you have many more responsibilities. Patriot Pension Advisors (PPA) understands that you may spend the least amount of your working life on retirement plan issues while your fiduciary role for the plan poses a significant amount of risk. Inundated with your primary job functions, finance and human resources executives lack the time and tools to fulfill their fiduciary responsibilities with a high level of assurance and protection. This uncertainty is often overwhelming given the personal accountability implicit under ERISA.
To help meet this void, Patriot Pension Advisors offers a fiduciary oversight program that seeks to deliver protection for plan management through independent guidance and monitoring. Under this program, PPA helps clients satisfy the following fiduciary functions:
- Demonstrate prudence through a document trail;
- Understand the key factors around investment management decision making;
- Adhere to the plan document and the committees' investment strategies;
- Monitor service providers according to the new global benchmarks of fiduciary excellence.
Why plan sponsors use our fiduciary oversight program:
Easy to Use
Fiduciary functions are managed effectively through a written Investment Policy. You can save time, potentially reduce personal risk, and gain access to critical fiduciary tools.
Document Decisions
PPA tracks all committee decisions so that under inquiry investment committees can demonstrate ERISA’s prudence requirements through a trail of informed decisions. With a point and click, fiduciaries can evidence their investment rationale and map key decisions to the plan’s guiding documents.
Continuity of Conduct
Our role ensures a high level of continuity in the event of investment committee turnover. Our fiduciary oversight program preserves the integrity of past decisions and provides effective succession for future fiduciary governance.
Clarify Roles and Responsibilities
We help investment committees align internal responsibilities and benchmark the services of operational platform providers such as administrators, record keepers, custodians, and investment managers. Fiduciary services provided for advisory relationships.