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Is your current retirement plan advisor up to the task?

The following is a list of questions you might want to ask your retirement plan advisor to determine if they are up to the task of advising versus just educating, you and your employees given the new ERISA regulations.

  • Has your advisor informed you about plan sponsor obligations under 408(b)(2) and 404a regulations that went into effect on July 1st?
  • Is your advisor providing fiduciary education to help you understand the nature and scope of responsibilities and potential liabilities under the new DOL regulations?
  • Does your advisor provide procedures to help you address selection & monitoring of service providers, selection & monitoring of plan investments and administration & reporting?
  • Does the plan have the right mix of investment options delivered at a fair cost?  What is the average expense ratio of the funds available in your current platform?
  • Have you received all of the 408(b)(2) fee disclosures from  your service providers, e.g. record keeper, third party administrator, advisor?
  • How do you know if the fees are reasonable?
  • How will your advisor help you with the 404a participant fee disclosures?
  • How are your employees being informed about new fee disclosures?
  • Is your advisor a 3(21) fiduciary on your plan?
  • Will your advisor be able to provide investment advice to employees versus education under the new regulations?
  • Will your advisor be coordinating the IPI (Important Plan Information) and ICC (Investment Comparative Chart), reports that are required for distribution to employees under 404a?


Karp Capital Management, an independent registered investment advisor has the knowledge, experience and investment expertise to be your retirement plan quarterback. For a comprehensive outline of our services and more information please go to https://karpcapital.com. 



DisclosureThe posted information is for informational purposes only. This message does not constitute an offer to sell or a solicitation of an offer to buy any security. All opinions and estimates constitute Karp Capital's judgment as of the date of the report and are subject to change without notice. Accordingly, no representation or warranty, expressed or otherwise, is made to, and no reliance should be placed on, the fairness, accuracy, completeness or timeliness of the information contained herein. Securities offered through Infinity Financial Services (a registered broker-dealer, member FINRA, SIPC). Infinity Financial Services and Karp Capital Management are not affiliated companies.

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