The Indianapolis firm unveiled Plan Sponsor Advice, which the company said assists plan sponsors in creating, documenting and maintaining their company’s retirement plan portfolio. The offering was developed in cooperation with Ibbotson Associates.
Once the investment portfolio selections have been made, the plan sponsor receives a completed Investment Policy Statement, which provides a record of the analysis and review that were involved in the portfolio selections, and serves as evidence that a plan sponsor is performing the due diligence necessary for fiduciary responsibility, according to an AUL announcement.
Plan Sponsor Advice also provides ongoing portfolio evaluation and recommendations in the form of semi-annual e-mails. Additionally, AUL (American United Life Insurance Company) will act as a fiduciary for the plan portfolio when the plan sponsor follows the recommendations generated by Plan Sponsor Advice.