Consulting Services - Company Level

The world of Qualified Retirement Plans has changed, and continues to quickly change each day as a result of new legislation and compliance related issues. Sponsors, Trustees, Committee Members, CEOs, CFOs and Controllers are dedicated to following ERISA and doing their jobs as effectively as possible, yet cannot possibly make it their 'full time job' to keep up with these rapid changes. However, the DOL and SEC state that it is a Sponsor's fiduciary responsibility to do so.

Both the DOL and SEC strongly encourage companies to hire independent consultants to assist them with not only investment advisory issues, but also with legal and compliance issues. In light of the Pension Protection Act of 2006, Enron, the Mutual Fund Scandal and Elliot Spitzer's conflict of interest investigations, the key Regulatory focus is being centered on ERISA's "independence" requirement. Almost by definition, Providers are not independent. EPIC is an independent consulting firm, specializing in Defined Benefit and Defined Contribution Plans. EPIC offers their clients unbiased, independent advice, so to ensure that their clients are protected. We work in conjunction with your Providers, filling in the Compliance, Independent Investment Advisory and Participant Advice Services that they cannot. The overriding objective of EPIC is to protect the Sponsor from liability. We work exclusively for and are exclusively loyal to you, our Client.

For the first time, the DOL is issuing "Guidance" as to the steps Plan Sponsors should be taking. For example, the DOL is "suggesting" Plan Fiduciaries know what the Plan under their charge is costing Participants. Given the complexity of the current marketplace, this is not often easy to determine, as most Providers claim to be operating at "no cost." Further, the DOL is "suggesting" a written Investment Policy Statement be in place. Led by New York and Massachusetts, more and more State Attorney General Offices are seriously questioning whether Providers or "Consultants" with a vested economic interest in Plan assets satisfy ERISA's definition of independence as to Performance Monitoring and other services.

EPIC services include, but are not limited to:

Investment Policy Statement - EPIC can provide you with a customized IPS, if you do not currently have one, and/or review your current IPS and make suggested revisions. Unlike others, our goal is to protect you and not us.
DOL Regulatory Compliance - Monitor and advise clients on all DOL issued guidance.
SEC/NASD Regulatory Concerns - ERISA indicates that Performance Monitoring should be performed by an "independent" party.
DB Termination Studies
General Business Consulting - Companies are finding ERISA dramatically effects or impacts other aspects of the Company's business. EPIC is often asked to extend their services "beyond the Plan." In addition, providers of Retirement Services are increasingly relying upon EPIC to review their structure, costing, marketing and training programs to ensure they remain competitive, cost effective and up-to-date in the marketplace, and achieving it under budget!