ERISA Compliance Assessment Available to 401(k) Plan Fiduciaries


Richard Chargar, Esq.
Kelley Drye & Warren LLP
(203) 324-1400
David Katz
Rocaton Investment Advisors LLC
(203) 621-1717

June 3, 2009 - (Stamford, CT) Kelley Drye & Warren LLP, an international law firm, and Rocaton Investment Advisors LLC, an independent investment advisory firm that offers a unique suite of scorecards and other services to defined contribution plan sponsors, are announcing a new offering for 401(k) plan fiduciaries.

The new service, The Plan Fiduciaries’ ERISA Compliance Investment Assessment,” is provided by the law firm of Kelley Drye & Warren LLP. It provides insight into a range of issues that plan fiduciaries must address, including the need to offer investment alternatives with materially different risk and return characteristics, guidelines for preparing an Investment Policy Statement, monitoring investment performance, and more. The Assessment is a follow-up to Rocaton’s Defined Contribution Fee and Expense Scorecard,” which the company launched in October 2008, to help defined contribution plan sponsors evaluate the fees paid by their plans and participants and a complement to the series of scorecards and consulting services that Rocaton offers to help address the issues identified by Kelley Drye & Warren LLP.

Richard Chargar, chair of Kelley Drye’s Employee Benefits and Executive Compensation practice warns, Substantial losses incurred by 401(k) accounts, a rise in class action lawsuits against fiduciaries for losses incurred by plans, and the Department of Labor’s attention to fees and expenses paid out of plan assets has intensified the pressure on plan fiduciaries to be extra cautious about their obligations under ERISA. Undertaking a compliance assessment is a prudent step to take.”

To learn more, plan fiduciaries should read the advisory, Key Issues 401(k) Plan Fiduciaries Need to Know”.

Kelley Drye & Warren LLP is a multidisciplinary law firm with five offices in the United States and an office in Brussels. It is well known for representing clients in executive compensation and employee benefits matters.

Rocaton Investment Advisors LLC is a national employee-owned investment consulting firm focused primarily on providing investment advice to institutional investors. The company has a long history of working with defined contribution plan investors on all aspects of managing those investment programs, including but not limited to investment structure, investment manager selection and monitoring, recordkeeper selection, and fee evaluations and negotiations.