AXA Equitable Releases Fiduciary Info Product

December 21, 2006 ( - AXA Equitable has unveiled the Fiduciary Toolkit, a resource available through its Retirement Strategies 401(k) product aimed at helping small- to mid-size defined contribution plan sponsors manage their fiduciary obligations.

A news release said plan sponsors can find required forms and to-do checklists in the Fiduciary Toolkit and its companion CD guide. The company said the new offering guides plan sponsors through their obligations on:

  • naming a fiduciary,
  • selecting plan providers,
  • p lan design,
  • a model investment policy statement,
  • election of Employee Retirement Income Security Act (ERISA) 404(c),
  • employee communications,
  • employee education, and
  • investment review.

According to AXA Equitable, the new offering is designed to help plan sponsors avoid 10 common fiduciary problems, including not:

  • documenting fiduciary decisions,
  • maintaining supporting documentation related to the plan’s investment, administration, monitoring and management,
  • interviewing and gathering all the facts necessary to a make prudent decision regarding the choice of the service provider,
  • interviewing and gathering all the facts necessary to understand the fee arrangements regarding the plan, its service providers and its investments,
  • monitoring the service providers and revisiting the choices of those providers,
  • bidding out the job for service providers and documenting that process,
  • clearly understanding the various responsibilities of service providers,
  • forwarding employee contributions within a reasonable amount of time,
  • understanding the interrelationships of service providers and who is providing what services, and
  • clearly understanding what the plan is invested in, especially if the plan is using investment options such as hedge funds and financial derivatives.

More information about the company is at .