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Products October 13, 2014
Kidder Benefits Consultants Offers 3(16) Fiduciary Services
Kidder Benefits Consultants will provide ERISA Section 3(16) plan-level, discretionary fiduciary services to its clients, beginning immediately.
Reported by Rebecca Moore
The comprehensive set of services is designed to help retirement plan sponsors and administrators satisfy many of their fiduciary responsibilities.
The company notes that recent changes in laws and Employee Retirement Income Security Act (ERISA) regulations, combined with increased enforcement by the Department of Labor (DOL), have heightened awareness of the need for strong fiduciary governance. Yet many plan sponsors and advisers lack the expertise, systems and resources to adequately fulfill their responsibilities, which include plan qualification and operations, reporting and disclosure, coverage and testing, asset management and more.
“For the plan sponsor, due diligence and transparency are the order of the day,” says Keith Gredys, CEO and president of Kidder, “and the risks for noncompliance can be significant. With our long and successful history in the qualified plan space, we’re uniquely positioned to provide fiduciary support beyond the scope of most other providers. We have the systems and experience necessary to help mitigate these risks on behalf of our clients.”
Kidder notes that it has earned multiple certifications for its adherence to the American Society of Pension Professionals & Actuaries (ASPPA) Standard of Practice for Retirement Plan Service Providers. In 2011, Kidder completed the independent certification process conducted by the Centre for Fiduciary Excellence (CEFEX).
More information is at www.askkidder.com.