AALU Report 13-19

Why Fiduciary Representation is important for Retirement Plan Sponsors

As part of our value proposition when consulting to Retirement Plans, Sapers & Wallack acknowledges in the Retirement Plan Services Agreement that we are a Fiduciary with respect to assets of the Plan as defined in ERISA under Section 3(21). As Plan Fiduciaries, we undertake a comprehensive process to benchmark plan investment alternatives and share class alternatives.

The Washington report 13-19 is a cautionary tale that should be read carefully by plan sponsors. Plan sponsors must understand the multiple share classes that are available and document the decision making process.

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