Fiduciary Services & Results

Transactional Trustee

Transactions – from partial to 100% shareholder buyouts, company sales and acquisitions using ESOPs. We take full independent discretionary authority on behalf of the Trust:

Consulting on structure, process timing for not only the stock purchase, but the entire package
Performing due diligence
Negotiating on behalf of the ESOP

Ongoing Independent Trustee

The Company has continuing responsibilities after the Transaction. We help by:

Establishing the annual stock price
Managing other assets in the Trust
Voting ESOP stock, with pass-through voting when necessary
Monitoring and reviewing the plan’s administration, compliance and reporting & disclosure
Attending Board meetings (although a Trustee is not a Board member)
Answer questions from participants, Board members and others
Audit assistance

We have worked with ESOPs in every state. Our ESOPs vary by:

Ownership – partial to 100%
Entity type – c-corporations and s-corporations
Industry
Size


ERISA 3(16) As an ERISA 3(16) Fiduciary, we take on the day-to-day administrative tasks and are legally responsible for their accuracy and completion. The Third Party Administrator (TPA) cannot take independent action, only providing advice to fiduciaries, with no legal responsibility, other than the work-product. As a 3(16) Fiduciary, we provide:

Plan Document Services

Interpret and implement plan document provisions
Coordinate plan amendments and restatements
Administer policies

Distributions to Participants

Determine eligibility of distribution requests and claims for benefits
Approve or deny distribution requests
Communicate with participants regarding claims
Approve or deny account liquidation related to participant benefit claims
Processing related to Termination, Retirement, Death, Disability, In-Service distributions, Hardships, Loans and QDROs

Communications

Ensure annual communications and disclosures are sent to participants, such as 404(c), QDIA, SPD, SMM, Blackout, QACA, Safe harbor

Monitoring

Loans and defaults
Payroll processing
Vesting

Administration & Compliance

Review and confirm testing results
Review and confirm contributions
Assist with refunds for failed testing
Assist with corrections for operational errors
Form 5500 (signing) & SAR
Audit Assistance