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When people lose money, they get upset. If employees get upset about losses in their 401k plan employers can be on the hook. If you do not want to be held responsible by the Department of Labor for your employee losses, you need to make sure the investment options in your retirement plans follow stringent and prudent policies. The Investment Policy Statement (IPS) for your 401(k) plan is the “guardrails” for your Investment Committee to follow to make sure your plan’s investments stay on course regardless of what direction the market flows.  The IPS is proof that strict and prudent policies are in place, and if followed, can help protect you as the employer and your plan fiduciaries from complaints and alleged violations.  Do you have one?  More importantly, do you methodically follow it?

If you need help answering these questions, contact me at kdriscoll@seedpg.com

SUITE(k) is a division of S.E.E.D. Planning Group focused on helping employers with retirement plan administration, fiduciary oversight, and employee education for a flat-fee

S.E.E.D. Planning Group LLC (S.E.E.D.)is a Registered Investment Advisor (RIA) with the Securities Exchange Commission. S.E.E.D.’s team provides investment fiduciary and fee-only financial planning services to clients. Our fees are disclosed, easy to understand, and not predicated on product sales.

Kerstin Driscoll leads our Business Retirement Plan Team. In her role as Retirement Plan Navigator, she provides fiduciary investment services to our business clients.  Kerstin has accumulated over 30 years of industry experience. She holds a Bachelor of Arts degree in Pre-Law and a business minor from Penn State. Throughout her career, she has guided employers and retirement plan committees to design cost-effective retirement plans for their employees and their companies. To contact Kerstin, you can email her at kdriscoll@seedpg.com