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Now what ?!?
Copyright 2013 FSS, a division of fi360, Inc.
Run around
and
panic.
4
musts
segmented
service
models
1
1 32 4
Small Under 3 million
Mid-size Plan 3 million – 10 million
Large Plan 11 million – 50 million
Super-size 51 million pl...
a MINIMUM level
of documentation
2
1 32 4
1 32 4All plans
should have:
• Plan compliance file centralized
• Fiduciary responsibilities defined,
understood, and acce...
1 32 4
• Written business plan to manage
the plan investments formalized
• Periodic investment monitoring
conducted
1 32 4
• Goals & objectives clearly defined
• Periodic review & benchmarking
of service providers conducted
quarterly service
schedule
3
1 32 4
Investment
Due Diligence
QTLY
Annual
Plan Review
Q1
Fiduciary
Formalization
Q2
Provider
Due Diligence
Q3
Participan...
flexibility
4
1 32 4
HOW?
1
4
2
3
ORGANIZE FORMALIZE
MONITOR IMPLEMENT
1
4
2
3
ORGANIZE FORMALIZE
MONITOR IMPLEMENT
Initial Meeting
to Gather
Data
Within 60 Days
Plan Process is
Formalized
Annu...
• Identify the plan fiduciaries
• Understand goals and objectives of the
plan
• Establish IPS criteria
• Collect plan docu...
New Client Packet
 Fiduciary Worksheet
 Goals and Objectives Worksheet
 IPS Development Worksheet
 Document Checklist
...
• Investment policy developed
• Plan compliance file set-up
• Plan service timeline established
• Participant service time...
Deliver to client:
 IPS for review/signature
 12-month service timeline
2FORMALIZEWithin 60 Days
Plan Process is
Formali...
• Investments monitored according to
established timeline
• Oversight meetings conducted as
appropriate
• Participant comm...
• Annually revisit plan procedures and
effectiveness
• Conduct benchmark study every three
years
• Review participant read...
3IMPLEMENT
Annual
Timeline is
Implemented
and
Monitored
Investment
Due Diligence
QTLY
Annual
Plan Review
Q1
Fiduciary
Form...
Annual
Plan Review
Q1
Fiduciary
Formalization
Q2
Provider
Due Diligence
Q3
Participant
Communications
Q4
Quarterly Documen...
client management formula™
turn-key compliance, simplified
Leverage and relax.
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fi360 2013 Conference Session by Sharon Pivirotto

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fi360 2013 Conference Session by Sharon Pivirotto

  1. 1. Now what ?!? Copyright 2013 FSS, a division of fi360, Inc.
  2. 2. Run around and panic.
  3. 3. 4 musts
  4. 4. segmented service models 1
  5. 5. 1 32 4
  6. 6. Small Under 3 million Mid-size Plan 3 million – 10 million Large Plan 11 million – 50 million Super-size 51 million plus 1 32 4
  7. 7. a MINIMUM level of documentation 2
  8. 8. 1 32 4
  9. 9. 1 32 4All plans should have: • Plan compliance file centralized • Fiduciary responsibilities defined, understood, and accepted
  10. 10. 1 32 4 • Written business plan to manage the plan investments formalized • Periodic investment monitoring conducted
  11. 11. 1 32 4 • Goals & objectives clearly defined • Periodic review & benchmarking of service providers conducted
  12. 12. quarterly service schedule 3
  13. 13. 1 32 4 Investment Due Diligence QTLY Annual Plan Review Q1 Fiduciary Formalization Q2 Provider Due Diligence Q3 Participant Communications Q4
  14. 14. flexibility 4
  15. 15. 1 32 4
  16. 16. HOW?
  17. 17. 1 4 2 3 ORGANIZE FORMALIZE MONITOR IMPLEMENT
  18. 18. 1 4 2 3 ORGANIZE FORMALIZE MONITOR IMPLEMENT Initial Meeting to Gather Data Within 60 Days Plan Process is Formalized Annual Timeline is Implemented and Monitored
  19. 19. • Identify the plan fiduciaries • Understand goals and objectives of the plan • Establish IPS criteria • Collect plan documents for compliance file 1ORGANIZEInitial Meeting to Gather Data
  20. 20. New Client Packet  Fiduciary Worksheet  Goals and Objectives Worksheet  IPS Development Worksheet  Document Checklist 1ORGANIZEInitial Meeting to Gather Data
  21. 21. • Investment policy developed • Plan compliance file set-up • Plan service timeline established • Participant service timeline established 2FORMALIZEWithin 60 Days Plan Process is Formalized
  22. 22. Deliver to client:  IPS for review/signature  12-month service timeline 2FORMALIZEWithin 60 Days Plan Process is Formalized
  23. 23. • Investments monitored according to established timeline • Oversight meetings conducted as appropriate • Participant communications schedule implemented • Fiduciary education initiatives executed 3IMPLEMENTAnnual Timeline is Implemented
  24. 24. • Annually revisit plan procedures and effectiveness • Conduct benchmark study every three years • Review participant readiness as appropriate 4MONITORAnnual Timeline is Monitored
  25. 25. 3IMPLEMENT Annual Timeline is Implemented and Monitored Investment Due Diligence QTLY Annual Plan Review Q1 Fiduciary Formalization Q2 Provider Due Diligence Q3 Participant Communications Q4 4MONITOR
  26. 26. Annual Plan Review Q1 Fiduciary Formalization Q2 Provider Due Diligence Q3 Participant Communications Q4 Quarterly Document Packs = New Client Packet +
  27. 27. client management formula™ turn-key compliance, simplified
  28. 28. Leverage and relax.

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