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.