Plan Risk Management

Retirement Plan Risk Management

Increasing civil litigation (both individual and class action), Supreme Court decisions (i.e., LaRue v. DeWolff, et al., No. 06856), as well as current regulatory alterations mandate both a fresh appraisal and active management of the potential corporate and plan fiduciary liability posed by retirement plans.

A proactive structured risk management plan may do much to mitigate risks.  Indeed, most plan sponsors’ have adopted risk management as an integral portion of their general businesses, but remarkably few apply risk management systems in their retirement plans. Bay Mutual Financial’s Risk Management Plan is both comprehensive and totally scaleable.  Thus, BMF capably provides risk management strategies and tactics as an integral part of each retirement plan.  At the minimum the Bay Mutual Financial Retirement Plan Risk Management has following components:

  • Fiduciary liability mitigation (Fiduciary FortressTM),
  • Complete review of Plan operations (including, but not limited to documents, administration, compliance and communications),
  • Plan total fee transparency,
  • General and summary information suitable for comparison with the individual company/plan by those performing the risk management reframing.
  • Rigorous plan investment monitoring,
  • Enhanced participant education and communication,
  • Inclusion of best practices,
  • Quality assurance,
  • Thorough risk management strategic implementation, and
  • Meticulous documentation.
For sometime risk management has been an accepted portion of corporate America.  There seems little question that risk management is now also a mandatory portion of retirement plan sponsorship, administration and fiduciary responsibility.