Most 401(k) providers will help you with fiduciary work but won’t take on any of the fiduciary risk for you. This is a growing concern for executives and HR Managers because of an increasing wave of employee lawsuits and scrutiny by the IRS and Department of Labor.
BenefitGuard is truly different.
We believe that the service providers doing the fiduciary work on a 401(k) plan should be taking on the risks, not you. And we’re not talking about being a co-fiduciary.
Unlike any other provider in the industry, we appoint professional fiduciaries to sign and act in the administrative and investment fiduciary roles for you. Fiduciaries will sign and act as your 3(16) plan administrator, 3(21) named fiduciary, and 3(38) investment manager. We also hold a one million dollar bond on each and every plan.
With BenefitGuard, there’s no more signing your name on documents you don’t have time to review, and might not understand. And when the IRS and Department Of Labor come knocking, we’ll handle it for you.