As a business executive, you are most likely acting as the fiduciary of your company’s retirement plan. And, as the plan’s fiduciary, you are responsible and liable for the oversight of your company’s plan. Did you know that the common thread in recent court cases and settlements against plan fiduciaries is three pronged:
- Plan administrative costs are excessive.
- The plan’s investment share class is not the lowest available.
- The plan’s investments are under-performing.
Central Trust Company has designed our retirement plan services to alleviate the concerns for all three of these areas.
Helping Reduce Your Risk
- First, we will sign on as fiduciary for your plan’s record keeper, assuring that the fees are reasonable and services are necessary.
- Second, we will become the plan’s investment manager and take on full discretion and responsibility for the plan’s investment options made available to your participants.
With Central Trust Company taking on those fiduciary responsibilities, your remaining responsibility is simply overseeing Central Trust Company. To help you do this, we will provide you a transparent conflict free, third-party benchmark of our fees and services on an annual basis.