A Wachovia news release said that the product’s contents include more than a dozen checklists, articles and tools addressing fiduciary issues such as:
- investment selection
- following and documenting prudent compliance procedures
- structuring investment committee meetings
- retaining records
- using DOL and IRS correction programs
- locating missing participants.
“We are helping to make it easy for sponsors to stay on track with their fiduciary responsibilities and are pleased to be able to bring sponsors a convenient source of tools and information concerning fiduciary duties and responsibilities,” said Larry Goldbrum, Senior Vice President and Chief Risk Officer for Wachovia Retirement Services.