Plan Management
Retirement Plan Services can be engaged for special projects or as part of a long-term retainer relationship. These services include:
- Plan design consulting
- Fiduciary oversight
- Investment policy design
- Service provider selection, management and oversight
- Participant education program strategy
- Fund manager search, selection and monitoring
- Investment committee fiduciary education and training
Fiduciary Assessments
One special service is the Hardy|Reed Assessment of Fiduciary Performance. This assessment provides evidence of how well an investment steward meets the Global Fiduciary Standard of Excellence as defined by the Prudent Practices for Investment Stewards Handbook. The Retirement Plan Services Division completes retirement plan assessments for organizational conformity with the Global Standards of Fiduciary Excellence as established by the Center for Fiduciary Studies. Deliverables include:
Review of Documents
To include but not limited to, an Investment Policy Statement, trust document, service provider agreements.
Identification of Applicable Laws
UPIA - Uniform Prudent Investor Act
UMIFA - Uniform Management of Institutional Funds Act
UTC - Uniform Trust Code
ERISA - Employee Retirement Income Security Act
Identification of Fiduciaries
Identification of named and deemed fiduciaries and their roles and responsibilities.
Review of Fiduciary Processes
Review of goals and objectives, the investment policy, fiduciary acknowledgment letters, the conflict of interest policy, the Investment Committee bylaws, the due-diligence process for selecting and monitoring investment managers, the monitoring procedures for service providers, the spending policy and equilibrium spending rate.
Investment Fee Study and Benchmarking Report
Identification of fees, who pays them and who receives them.
Asset Allocation Study
Determine appropriateness of asset allocation compared to investment goals stated in the Investment Policy Statement and its adherence to Modern Portfolio Theory.
Investment Monitoring Report
Based on the criteria of the Investment Policy Statement, including watch-list criteria, peer analysis, and index analysis.