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Fiduciaries and Fiduciary Advisor
Plan participants are often frustrated with the lack of available investment advice for their retirement plan assets. This issue is of critical importance since a retirement plan account is often a participant's largest retirement asset.
Plan sponsors have historically been reluctant to provide investment advice due to concerns and uncertainties about fiduciary liability from the investment advice. Due to the Pension Protection Act of 2006, plan sponsors can be protected from fiduciary liability when a fiduciary advisor is used to provide investment advice to plan participants. In addition, there is no requirement for plan sponsors to monitor the fiduciary advisors advice.
However, in order for a plan sponsor to obtain this protection, both plan sponsors and fiduciary advisors have several requirements to meet.
Johnston Investment Counsel meets the fiduciary requirements necessary to serve as a fiduciary advisor. Johnston Investment Counsel has several investment strategies that may be appropriate for a plan participant, including:
In addition, many of Johnston Investment Counsel's retirement plan services are appropriate in helping plan sponsors meet their fiduciary responsibilities including:
- Investment policy development.
- Investment option selection.
- Ongoing performance review and evaluation.
- Fee analysis, and
- Participant education.
Serving all of
Central Illinois:
Peoria Illinois IL
Bloomington Illinois IL
Normal Illinois IL
Springfield Illinois IL
Decatur Illinois IL