75 Harbert Road
Many business owners today are tasked with an ever-increasing need to provide a retirement benefit for themselves and their employees. Some of the questions that arise from choosing how to complete this task include:
“Which type of plan is right for me? 401(k), SEP, SIMPLE, profit sharing?”
“Can I afford an employee retirement plan?”
“Do I have time to manage an employee retirement plan?”
“Are my employees even interested?”
“Am I able to complete my fiduciary duty?”
The good news is setting up a plan is not as difficult, expensive, or time-consuming as it seems, and employees will find benefit in receiving help with retirement. Click below to learn about the types of retirement plans.
Carillon Advisors offers both 3(21) Fiduciary Services and Education Services to Qualified Plan Sponsors and Plan Committees. Our advisors assist in the application of qualified plan governance to help plan sponsors uphold their fiduciary duties. Carillon Advisors will support the plan sponsor and committee in areas including fiduciary governance, investment oversight, fiduciary insurance, service providers fees and services review, compliance, fiduciary records management, participant communications, and participant education. Check out below for more information on how Carillon Advisors can help and give us a call.
Our advisors assist sponsors in establishing a formal committee, bylaws, and charter. Along with plan governance, our advisors ensure committee meetings are held regularly and keep meeting minutes. As part of Carillon Advisors fiduciary governance offering, our advisors regularly perform fiduciary education with committee members to keep members informed of changes in regulations and ensure awareness of committee member fiduciary duties and responsibilities.
Our advisors assist sponsors to create, update, and review an investment policy statement. Once the investment policy statement has been created, our advisors will review funds to ensure adequate choice for participants while maintaining documentation of the review and decision-making process. The investment oversight process will ensure the plan sponsor and committee comply with ERISA regulations.
Service Providers Fees & Services Review
Our advisors assist plan sponsors, and plan committees conduct reviews of service providers and the fees charged for those services. The review process will verify the reasonableness of fees charged to plans and verify providers are providing contractual obligations.
Of the services provided by Carillon Advisors, compliance is the most important. Our advisors, acting as fiduciaries along with plan sponsors and plan committees, verify all ERISA regulations involving retirement plans have been completed. Our advisors review plan documents with ERISA counsel, verify annual compliance dates, 408(b)2 fee disclosures, and trust agreements annually to confirm ERISA compliance. Along with the review process, Carillon Advisors is a trusted partner during plan audits.
Fiduciary Records Management & Documentation
Our advisors assist with the establishment of a process for record management. Coordinating with recordkeepers and third-party administrators, Carillon Advisors maintains documentation plan sponsors and plan committees may need in the event of a plan audit.
Participant Communications and Education
Our advisors provide plan education to plan participants through in-person, one-on-one meetings, seminar-style training, and webinars. Through the use of technology, participant education can be delivered to participants in various locations across the United States. Along with participant education, our advisors work with recordkeepers and third-party administrators to provide participant communications and verify the accuracy of the participant addresses annually.