Fiduciary Outsourcing

About Fiduciary Outsourcing

The Retirement Readiness Institute is a professional fiduciary organization and retirement plan specialist whose principals have earned the highly prestigious Registered Fiduciary™ designation.  The Retirement Readiness Institute, uses industry-recognized best practices to reduce plan sponsor liability to the lowest potential levels allowed by law.

We can step into your shoes and oversee the plan as if it were you.

The Institute provides three critical assets “Insider” plan fiduciaries seldom have enough of:

  • TIME to manage the many diverse duties imposed by law
  • KNOWLEDGE of the ever-changing industry and regulatory environment
  • PRUDENT DOCUMENTATION PROCESSES that are vital to shielding you and your company from costly liability exposure

Too many plan sponsors rely on their advisors and other service providers to help run their plan, believing they will be responsible for any errors or omissions. These misplaced expectations are more dangerous than you might first realize.  Insider fiduciaries are still fully responsible for the plan with little or no recourse against non-fiduciaries.

Plan sponsors are held to the standards defined within the meaning of the Prudent Man Rule.  Federal regulations dictate that, if a fiduciary lacks the expertise to perform certain obligations, then the fiduciary must obtain expert help.

We are truly a fiduciary partner in running the plan, prudently managing everything from choosing and monitoring the investments to ERISA regulatory compliance and documenting daily plan operations—freeing you and your team to focus on running the business. 

Process Used For Fiduciary Outsourcing

According to the latest Tillinghast Fiduciary Liability Survey Report, the average cost to defend a fiduciary breach is over $365,000—and that doesn’t include penalties, excise taxes and repayments to the plan.