Retirement Plan Advisors (RPA) announced the launch of its new SponsorPlus consulting program, a fiduciary and investment advice service for employer-sponsored retirement plans.
The new program was created to give public sector plan sponsors the edge they need when facing the challenges of fiduciary obligations. With the SponsorPlus service, RPA provides clearly defined investment policies and regularly applies them to retirement plans on behalf of plan sponsors. SponsorPlus was developed as a direct result of RPA’s success with PortfolioPlus, a participant-level optional money management service for group retirement plans.
“Plan sponsors take on a great responsibility with employer-sponsored retirement plans,” said Joshua Schwartz, President at Retirement Plan Advisors. “SponsorPlus gives them the ability to do more with less and still make sound investment decisions for the plan participants.”
As plan sponsors continue to seek help managing the risks and responsibilities of operating retirement plans, demand for fiduciary support and protection is growing. SponsorPlus provides a level of fiduciary protection for selection and monitoring of investment options for retirement plans to help plan sponsors meet their fiduciary obligations.
With SponsorPlus, plan sponsors benefit from investment advice from an independent Registered Investment Advisor. RPA serves as an ERISA 3(21) and 3(38) advisor and stands with the plan sponsor as a co-fiduciary on the plan, regardless of plan size. RPA provides:
An Investment Policy Statement (IPS) to govern plan investment decisions.
Initial investment menu selection to bring the plan’s investment menu in line with industry best practices.
Ongoing monitoring and automatic investment menu updates to ensure the plan remains competitive.