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Company 401(k) Plans Owners/Employers

Is your current service provider giving you all they promised?

As you may know, May 19, 2015, the Supreme Court ruled in favor of the employees of Edison International in which the employees claimed that the investment options in their 401(k) Plan included higher-cost funds rather than lower cost alternatives.

By law, as it relates to employees and their retirement plan, employers must act in the best interests of their employees also known as a fiduciary responsibility.  This applies not only when the plan is established but is an ongoing requirement.  In his opinion, Justice Stephen Breyer said plan administrators must continue “to monitor trust investments and remove imprudent ones.” 

Failure to do so could present a liability to the employer.

You’re busy managing your business and although you want to offer benefits to your employees, it can be time-consuming.  Yet, a mistake in your retirement plan could be costly to your business.  Certainly, an unintended consequence.

At Bridge Financial, we offer retirement plan solutions that will provide a comprehensive package of investment options, compliance support, technology and personal service.  This includes educating your employees about their retirement plan.  We are also available to meet with your employees in group settings or individually.