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Fiduciary Assessments

This assessment provides evidence of how well and investment steward meets the Global fiduciary standard of excellence as defined by the prudent practices for investment steward’s handbook. The retirement plan service division completes retirement plan assessments for organizational conformity with the global standards of fiduciary excellence as established by the Center for fiduciary studies. Deliverables include:

REVIEW OF DOCUMENTS

To include but not limited to, and investment policy statement, trust document, service provider agreements.

IDENTIFICATION OF APPLICABLE LAWS

UPI A - Uniform Prudent Investor Act

UM IFA - Uniform Management of Institutional Funds Act

UTC - Uniform Trust Code

ERISA -Employee Retirement Income Security Act

IDENTIFICATION OF FIDUCIARIES

Identification of named and deemed fiduciaries and their roles and responsibilities.

REVIEW OF FIDUCIARY PROCESSES

Review of goals and objectives, the investment policy, fiduciary acknowledgment letters, the conflict of interest policy, the investment committee bylaws, the due diligence process for selecting and monitoring investment managers, monitoring procedures for service providers, the spending policy and equilibrium spending rate.

INVESTMENT FEE STUDY AND BENCHMARKING REPORT

Identification of fees, who pays them and who receives them.

ASSET ALLOCATION STUDY

Determine appropriateness of asset allocation compared to investment goals stated in the investment policy statement and its adherence to modern portfolio theory.

INVESTMENT MONITORING REPORT

Based on the criteria of the investment policy statement, including watch list criteria peer analysis, and index analysis.