Cohen Gorenstein LLC
An Independent Firm
401(k) Consulting
The Department of Labor and IRS are two of the three governmental organizations that oversee retirement plan compliance, including the rules and regulations. There are specific guidelines and processes that must be understood and followed. If these guidelines are not followed, "fiduciaries" of these plans can be held personally liable. We specialize in helping to educate you on your fiduciary responsibilities from top to bottom: from fees and investment performance, to the processes that help to mitigate fiduciary risk
Small employers are hard-pressed to find enough hours in the week to manage their businesses, let alone stay on top of the legal and financial requirements of their retirement plans. You rely on your investment advisor to help educate you on the compliance quagmire and service your plan. Is this advisor qualified to help your company make informed decisions and take protective precautions? Is this advisor independent?
We will do a free comprehensive analysis on your 401(k) ranging from fees and education, to investment performance. We have found that in most cases, your 401(k) provider does not need to be changed - just the advisor. The process for making this change is typically a signed letter.
If you can answer "no" to any of these questions, please contact us:
- Do you have an Investment Policy Statement?
- Do you formally review the investment performance in your plan on a regular basis?
- Can you document the process you followed in reviewing those investment options?
- Do you understand the investment costs within your plan?
- Can you document that the fees associated with your plan have been reviewed and are within reason?
- Do your employees have access to sufficient information so they can make informed investment decisions?
- How did you choose your current provider? Can you show your documentation of the process you followed.
- Does your plan offer diversified investments?
- Does your plan provide employee enrollment programs that explain the importance of participation?
- Does your plan provide asset allocation funds or models for employees who lack investment knowledge?
- Do you understand ERISA requirements?
Joshua Cohen
Registered Investment Advisor Representative, RJFS
Retirement Plan Consultant, RJFS
319 S. Jefferson Street
3rd Floor, Suite B
Chicago, IL 60661
Phone: 312-986-0501
Fax: 312-986-1506
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