Independent ERISA Fiduciary
A fiduciary is a person who is charged with the management and operation of a qualified retirement plan. They discharge their duties for the sole purpose of securing (protecting) the future benefits of participants and beneficiaries. An independent fiduciary is a discretionary decision maker for a plan. It is in that capacity that Matthew D. Hutcheson, LLC serves its clients. The company discharges its duties separate and apart from the influence of others, such as service providers, investment managers, or even company officers.
Independent fiduciaries are generally single member firms, unencumbered by the influence and demands of a large corporate structure. An independent fiduciary's loyalty is to the plan participants they serve. Plan sponsors also benefit greatly from independent fiduciaries, being enabled to design and implement a plan, and then have an independent party operate the plan according to its terms permits a plan sponsor to focus on their business. When loyalties are undivided, both the participants and the company benefit. An independent fiduciary is valuable partly because the function offers objective discretion that is useful to all parties concerned.
Independent Retirement Plan Consulting Services
Often, plan sponsors do not want or deem it necessary to appoint an independent fiduciary. In such cases, an employer may choose to hire Matthew D. Hutcheson, LLC as a consultant instead. Often, an employer can receive many of the same benefits as if they had appointed an independent fiduciary, although they retain all day-to-day fiduciary responsibilities instead of delegating those as they would with the appointment of an independent fiduciary. Engaging Matthew D. Hutcheson, LLC in a consulting assignment brings substantial value to a plan by utilizing special insights the principal has gained from being a fiduciary himself.
Fiduciary Training, Audits and Reviews
An employer can enjoy peace of mind by knowing they are doing the right things, the right way. Mr. Matthew D. Hutcheson has himself trained hundreds of employers to be competent, prudent fiduciaries to their plans. He has also performed many fiduciary and economic plan audits or reviews, saving plan participants hundreds of millions in future benefits that would have otherwise slipped away through previously unknown inefficiencies that existed within their plans. Plans substantially benefit from the insights and experience of Mr. Hutcheson Ð the same insights shared with Congressional Committees in both the United States House of Representatives and the Senate.