Corporate Retirement Plan Consulting

Beginning in 2012, the Department of Labor increased disclosure requirements and established new guidelines for ERISA compliant retirement plans to protect plan participants. As a result, business owners and executives serving as fiduciaries of qualified retirement plans are being held to a higher standard and, in many cases, are unaware of the federal rules and regulations placed upon them in this role. As an ERISA 3(21) fiduciary, FAI can help to mitigate the potential liability of other plan fiduciaries by providing investment expertise and assist with compliance of fiduciary responsibilities.


The 3(21) fiduciary:

  • Acts solely in the best interest of the plan sponsor, participants and beneficiaries of the plan
  • Avoids conflicts of interest or fairly manages them in the client’s favor
  • Discloses all forms of compensation both direct and indirect


The following delineates FAI's retirement plan consulting services as a 3(21) fiduciary.


  • Advisory & Fiduciary



    • Perform appraisal of existing investment program
    • Draft and implement Investment Policy Statement
    • Assist with the compliance with ERISA standards and section 404(c)
    • Provide ongoing compliance review
    • Schedule periodic plan review meetings with Trustee and Investment Committee
    • Partner with best service providers for custody of assets, recordkeeping and compliance of retirement plan


  • Investment Management



    • Develop diversified investment options tailored to the plan sponsor's goals
    • Perform the due diligence and research for the plan investment profiles/options
    • Manage and monitor investment profiles and rebalance portfolios as needed to meet performance objectives


  • Participant Education & Support



    • Provide employee investment education to increase participation and utilization of plan
    • Hold on-site group and individual meetings annually
    • Serve as liaison between the plan sponsor, TPA, and custodian
    • Act as primary contact for HR team for employee investment related questions and on-boarding of new employees


  • Fee-Only Plan Fiduciary



    • Maintain independence and objectivity without conflict of interest
    • Provide full disclosure of all plan costs
    • Report investment management fees on custodial statements