The Retirement Plans Group of The Hartford Financial Services Group has announced that it is instituting a number of improvements to Fiduciary Assure, its co-fiduciary investment selection and monitoring service.
The Hartford has simplified its program and increased the investment options covered by the service and has also eliminated the fee it currently charges clients for the service.
Fiduciary Assure is designed for retirement plan sponsors who are concerned about choosing the right mix of investment options and want to protect themselves against legal challenges by providing investment options to the plan that are in compliance with Employee Retirement Income Security Act section 404(c).
Mesirow Financial, an independent, third-party registered investment advisor, will act as a co-fiduciary to defined contribution retirement plan sponsors for the investment options it recommends.
Marty Swanson, vice president and chief marketing officer of The Hartford’s Retirement Plans Group, said: We feel strongly that plan sponsors need access to a fiduciary service like ours. The availability of true co-fiduciary protection, at no additional cost to the plan, should give plan sponsors added peace of mind.