3(16) FIDUCIARY SERVICES
There are complexities and risks inherent in sponsoring a qualified retirement plan, known as fiduciary responsibilities.
According to the Department of Labor, which along with the IRS oversees retirement plans,
“The primary responsibility of a fiduciary is to run the plan solely in the interest of participants and beneficiaries and for the exclusive purpose of providing benefits and paying plan expenses.”
The list of fiduciary duties is extensive and results in a lot of work. (We often find many clients aren’t even aware of some of the tasks included in your fiduciary duty.) You can choose to shoulder the responsibility yourself and accept the liability to get it all done right – and done on time. It’s like another full-time job.
Or you can outsource this burden to DB&Z and relax.
Through our 3(16) Fiduciary Services, your fiduciary duties are transferred to DB&Z where we assume most of the risk and responsibilities of correct operation of your plan. We’ll make sure all deadlines are met, your employees are enrolled, contributions are submitted on time, all notices are properly distributed, all “t”s crossed and “i”s dotted, ensuring your plan performs optimally and solely for the benefit of those it serves.
With DB&Z Fiduciary Services, your life gets a whole lot simpler.
Trust is the key to any effective partnership.
Our 3(16) fiduciary services exemplify trust, allowing you to exchange worry and risk for peace of mind.