NU Online News Service, Dec. 9, 2004, 2:33 p.m. EST
A Newark, N.J., insurer has introduced a retirement plan compliance program.[@@]
The retirement services unit at Prudential Financial Inc. says its new Fiduciary Risk Management program builds on earlier efforts to help employers select and monitor plan investment options.
Sponsors who use the new program can continue to have Prudential oversee investment options and share fiduciary risk.
But Prudential also will supply compliance services, such as plan design and Form 5500 services, and actuarial advisory services, such as annual valuation reports.
Other program features include employee communications services; tools for measuring the effectiveness of communications efforts; participant statements; an annual strategic review; and plan statements that measure the plan’s success at meeting specific performance goals.