Administrative Oversight


ERISA requires plan administrators to perform a majority of the work to comply with regulations. Plan administrators are required to file certain information with the DOL and IRS including a summary plan description and summary of material modifications. In addition, administrators are required to disclose or share a wide array of information with plan participants like plan rules and financial information. Lastly, administrators must establish procedures to process claims for benefits from plan participants or their beneficiaries. While your recordkeeper and/or third party administrator are contractually responsible for administering the retirement plan, Bridgehaven Fiduciary Partners provides a level of oversight to assist the plan sponsor in fulfilling their fiduciary duties. These services include:

  • IRS Form 5500 check
  • Review of required plan and participant notices and disclosures
  • Inspection of compliance testing results
  • Help analyzing plan design changes and employer contribution modeling
  • Support for IRS or DOL audits
  • eAssist with hardship withdrawal and QDRO determinations