Serving MEPs and PEPs
Unbiased Fiduciary Oversight of Group Plans
As an independent fiduciary, FCG offers non-biased oversight of group plans included Multiple Employer plans (MEPs) and Pooled Employer Plans (PEPs).
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Serving Multiple Employer Plans (MEPs)
Fiduciary Consulting Group serves PEO and association retirement plans by accepting the roles of 3(16) Plan Administrator and 402 Named Fiduciary.
We provide a greater level of protection to the organization or association.
We allow these entities to focus on their primary business of serving customers or members.
We offer a high-touch service model.
We enhance the value proposition of the PEO or association in their benefits offering, specifically in having the retirement plan managed by an Independent Fiduciary, via our experience and management protocols.
Serving Pooled Employer Plans (PEPs)
While MEPs serve the needs of PEOs and associations, the SECURE Act provided regulatory clarity to allow non-related employers to join together under one plan in a pooled employer plan (PEP) arrangement. There are several specific fiduciary responsibilities that employers now have when a decision is made to join a PEP.
Fiduciary Consulting Group can be appointed by the Pooled Plan Provider (PPP) to serve as 3(16) Plan Administrator and 402 Named Fiduciary. This provides a greater level of protection to the PPP and adopting employers.
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We’re Different in 3 Important Ways
FCG accepts the role of the ERISA 3(16) Plan Administrator and 402 Named Fiduciary.
Once we are engaged, the plan document is amended to transfer management responsibilities to us. Other providers’ role may not extend this far, leaving your client at risk.
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FCG offers non-biased fiduciary oversight.
Because our services are limited to fiduciary mitigation, we can assess the fees and responsibilities of other plan providers without conflict of interest. Other providers may offer plan services in addition to 3(16), thereby introducing inherent bias.
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FCG offers sound fiduciary management of your client’s plan.
This includes decisions regarding plan administration, operational and regulatory compliance, investment management decisions and service provider selection and oversight. Other providers offer a more limited scope.
Review our comprehensive 3(16) plan management services