Assurance and Benefits
Unburdening Fiduciary Duty
The number of companies that will outsource the responsibility for their retirement plans, and gain relief from their responsibility as the Plan Administrator in the process, is expected to double in three years.*
Why is outsourcing so popular?
Current litigation and regulatory trends place a premium on having the best fiduciary governance, risk management, and compliance system.
Why FiduciaryGRC is the solution
Roland|Criss is the premier provider of an integrated governance, risk, and compliance management solution for the ERISA retirement plan market. FiduciaryGRC is a comprehensive ERISA Section 3(16) Plan Administrator program.
Highlights of FiduciaryGRC…
- it is a systematic approach for managing all four disciplines of fiduciary duty;
- delivers assurance that ERISA’s complex fiduciary challenges are met with impeccable evidence of compliance;
- automated workflow ensures alignment between policies and practices;
- detects conflicts of interest;
- prevents excessive spending of employees’ retirement assets; and
- increases safety for plan sponsors and their service providers.
(Read the FAQs for plan sponsors and for investment advisors.)
FiduciaryGRC enables outsourcing for all size plans
Roland|Criss believes so strongly in the power of Fiduciary GRC that we take over all of a client’s most serious fiduciary role, the Plan Administrator.
FiduciaryGRC is vendor neutral. Since Roland|Criss serves only in the capacity of a 3(16) fiduciary, none of your retirement plan’s service provider relationships are disrupted. That includes investments, recordkeeping, participant administration, and custodian services.
Roland|Criss is helping business enterprises in multiple industries to:
- sponsor retirement plans that are managed in a way that conform to the prudence duty of federal pension law down to the smallest details;
- be confident that employees’ retirement accounts are not overcharged or underserved;
- effectively mix risk and compliance management with employee benefits planning;
- cut business risk by discharging the burden of being an ERISA Plan Administrator to a firm that specializes in that role; and
- reduce work and improve productivity for the human resource function.
Fiduciary GRC combines best in class expertise with advanced computer technology to eliminate the hassle and risk of sponsoring and managing an ERISA qualified retirement plan.
For more information on how FiduciaryGRC can add value to your retirement plan and unburden you and your organization, please contact us.
FiduciaryGRC is a trademark of Roland|Criss Fiduciary Services
*Source: Casey Quirk
