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Services
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FIDUCIARY COUNSELORS INC. acts
as the independent fiduciary in transactions involving plan assets, particularly
employer stock. We also provide expert advice on fiduciary, corporate governance,
corporate transaction and bankruptcy matters, conduct fiduciary due diligence
reviews, provide training for in-house fiduciaries and corporate boards
and handle communication with plan participants and beneficiaries. Our services include: |
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Employer Securities:
Assuming fiduciary responsibility for company securities held in benefit plans. We monitor and evaluate the company’s financial condition to determine whether participants should be permitted to make new investments in company stock. If we determine that holding company stock in a plan is no longer consistent with ERISA, we determine how best to liquidate a plan’s holdings in company stock. In some cases, we are retained solely for the purpose of managing the liquidation of securities in a company’s benefit plan. |
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Litigation Settlements:
Acting as independent fiduciary for class action litigation settlements where, depending on the engagement, we determine whether the settlement satisfies the conditions of the pertinent Prohibited Transaction Exemption issued by the Department of Labor (PTE 2003-39), whether the plan should opt out of a potential settlement, whether any objections should be brought on behalf of the plan, how to make claims on behalf of the plan, and how the proceeds of the settlement are to be allocated to participants’ accounts. |
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Plan Administration:
Serving as plan administrator for plans where the plan sponsor has become defunct or an independent administrator is required. We also oversee the investment of plan assets and the administration of benefits for plans involved in bankruptcy proceedings, pending final PBGC resolution if applicable. Additionally, we serve as plan administrator for corporate severance plans and other supplemental plans. |
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Prohibited Transaction Exemptions (PTE):
Representing the interests of plan participants in situations where the contribution of company assets to a plan requires an exemption from the Department of Labor (DoL). We determine whether the proposed contribution is in the best interests of participants, negotiate the specific terms under which the contribution will be accepted within the context of the PTE, monitor the performance of the asset and take appropriate action, and perform such other duties as specified by the DoL in the PTE. |
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Pension Benefit Guaranty Corporation (PBGC) Issues:
Advising clients on a variety of matters involving the PBGC including plan terminations, facility shutdowns, funding requirements, and pension issues in bankruptcies. Additionally, we assist companies with potential PBGC intervention in corporate transactions. |
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Real Estate Transactions:
Providing fiduciary oversight of transactions among interested parties, determinations regarding valuation issues, and representation of client interests with regard to performing and distressed real estate assets. |
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Private Investment Portfolio Review and Analysis:
Reviewing fund of fund managers, including evaluation of internal practices and capabilities. Monitoring of portfolio structuring, performance and operation relative to fund objectives and guidelines. |
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Transfer of Assets Between Plans:
Overseeing asset transfers between benefit plans or between funds or other investment vehicles. Reviewing and confirming valuations and ensuring compliance with procedures and portfolio mandates. |
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Investment Manager Selection and Monitoring:
Assuming full responsibility for the selection, monitoring, and if appropriate, termination of investment managers or mutual funds for investment options in 401(k) plans. |
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Proxy Voting:
Voting of proxies in the best interest of plan participants for annual meetings, mergers and acquisitions, and other special situations. |
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In addition to these core offerings, Fiduciary Counselors assists clients with the purchase and sale of interests in privately held companies, the purchase of annuities for terminating plans, interested party transactions, and employer bankruptcy proceedings. |
