ERISA §404(a)

Selecting and Monitoring Retirement Plan Investments 

ERISA §404(a) outlines the responsibilities of the plan fiduciary duties regarding selecting, monitoring and updating the employer sponsored retirement plan mutual fund investment options.

  • Maintain and update the Investment Policy Statement (IPS) – Outlines how the investments selected and monitored

  • Monitor the mutual fund investments in the plan and make updates when necessary

  • Put together a mutual fund lineup which is diversified and covers all areas of markets, providing participants with a broad range of investments.

  • Periodic review of investment recommendations and policies, which are part of each quarterly fiduciary investment review, provided by your plan’s consultant

  • Keep records of the Investment Committee meetings and annual plan review meetings with the company and participants.

  • Monitoring the expenses of the plan, making sure fees are reasonable.

Glover Park Wealth Management adheres to the ERISA §404(a) rules with your retirement plan.  When working with our firm, we work with the plan administrator to offer the lowest cost mutual funds with exceptional long term investment returns in your selected recordkeeping platform.