Is your company's plan a 401(k) Master's Plan?

Key Mistakes That Could Doom Your Plan

Not having the expertise to properly manage your plan.
Relying on financial services sales people for advice(who have no notable liability to the plan) instead of financial firm who can provide proper fiduciary support.
Believing that financial services sales people or the companies they represent is most interested in the plan and it's participants.
Not understanding the important ERISA requirements to properly running the plan. These ERISA responsiblities and liabilities fall on the plan sponsor not the financial sales person.
Failing to know that plan sponsors can be held personally responsible for their ERISA mistakes.

Fiduciary Liability for 401(k) Plans

Department of Labor (DOL) imposes one of the strictest standards of care on 401(K) plan fiduciaries through the Employee Retirement Security Act (ERISA).
Failing to comply with the standard of conduct can create personal liability for fiduciaries putting their personal assets (homes, bank accounts etc) at risk.
Workign with an ERISA- defined 3(38) Investment Manager like the Simon Financial Group as opposed to the more common 401(k) Plan Financial Advisor will alleviate your fiduciary responsibility.
The typical financial advisor of a 401(k) plan is an ERISA 3(21) fiduciary who has no legally defined discretion to the plan, therefore has no liability or culpability regarding the plan- all of this is the burden of the plan sponsor (company) i.e. fiduciary.
The 401(k) plan- bring on an ERISA defined 3(38) Investment Manager.

ERISA 3(21) Advisor

Financial Advisors and/or Financial Consultants representing Broker Dealers, Financial Firms, etc.
Taksed with assisting, helping or advising the plan sponsors as the Employer (plan sponsor) itslef makes the actual decisions.
An ERISA 3(21) fiduciary makes only recommendations for which it has no legal responsibiliyt or liabiliyt because they have no ERISA-defined discretion.

ERISA 3(38) Advisor

Registered Investment Advisor like Simon Financial Group who is subject to Investment Advisor Act of 1940.
Decideds what investment options are available to employees, advises the plan participants, continually monitors the plan.
An ERISA 3(38) fiduciary has legally defined discretion for which it is legally liable and for which the plan sponsor (employer) is no longer liable.

401k Masters: A Real Difference

Experience the difference of what we have to offer through our 401(k) "Masters

Program."

In this program we will show

you how to eliminate your

plan's liability, ways to

reduce your plan's cost and

our service model that is

second to none. Click here

to learn about how your company can become a Master using our 401(k) Master' prorgram.

Become a 401(k) Master

President's Thoughts

"At Simon Financial Group we understand that the market is in a constant state of flux and that our investors have varying needs and preferences. It is our objective to assist them with the development of financial strategies based on their individual risk needs, time horizon, tax bracket, financial objectives and investment goals. Our wealth managment team helps them accomplish this by creating portfolios that address their specific needs. Each investor's goals are personal, so we create investment models that match their needs."