Financial Advisor & Retirement Planning
what's in your fiduciary vault

Infographic: What’s In Your Fiduciary Vault?

  • Keeping proper documentation is a good way for plan sponsors and fiduciaries to show compliance with applicable laws and regulations. If the Department of Labor (DOL) or Internal Revenue Service (IRS) knocks on your door, there are certain documents that should be complete and on file. So, what should you have in your fiduciary vault? Take a look at our infographic to review the proper documentation checklist. Then call Nick Economos and the team at Fiduciary Financial Partners at 630.780.1534.   Fiduciary…

    Infographic: Managing Your Fiduciary Duty

  • Managing a company 401(k) is a big responsibility and understanding all of the potential features and possibilities is almost like another full-time job. As evidenced by our infographic, there are 5 major responsibilities a fiduciary can have. If you're feeling overwhelmed with your fiduciary responsibility, let's talk more about it today. Call Nick Economos and the team at Fiduciary Financial Partners at 630.780.1534.   Fiduciary Financial Partners, LLC is a Registered Investment Adviser. This blog post is solely for informational purposes.…
    401k refund

    The Dreaded 401(k) Refund: Corrective Distributions

  • 401K REFUNDS: NOT AS GOOD AS THEY SOUND With tax season fresh on our minds, many hear the word refund and begin running down their imaginary wish list of ways to spend this extra money. However, when it comes to 401(k) refunds, or corrective distributions, the excitement should be dialed back. Corrective distributions are a headache for plan sponsors and employees alike. Essentially, these refunds mean that your plan has failed testing, and tax-deferred money that key employees set aside…
    Should We Have A Retirement Plan Committee?

    Should We Have A Retirement Plan Committee?

  • If you are an employer or employee who has decision-making authority over your company’s retirement plan, there is a strong chance that you are a 401(k) plan fiduciary. You have a legal obligation to operate the plan solely in the interests of the plan participants (people with retirement account balances) and their beneficiaries (people who may inherit those retirement account balances). Additionally, two other primary responsibilities are to manage the plan for the exclusive purpose of providing benefits and paying…

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