The kit, an interactive guide, guides plan sponsors through their fiduciary process. This is done through a workbook, interactive CD and time-sensitive online documents that are included in the kit, according to a news release.
The workbook explores the elements of establishing or restating a plan and helps sponsors maintain their fiduciary responsibilities once the plan is in place. This is accomplished by guiding plan sponsors through the process of:
- documenting their plan provider selection
- designating a fiduciary
- designing their plan
- creating and documenting investment selection
- employee communication
- finalizing their plan.
Additionally, the workbook covers ongoing fiduciary review requirements such as annual compliance, quarterly investment reviews and annual investment reviews.
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