Administrative Oversight

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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

Investment and Insurance Products are:

  • Not Insured by the FDIC or Any Federal Government Agency
  • Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or Any Bank Affiliate
  • Subject to Investment Risks, Including Possible Loss of the Principal Amount Invested

This information is intended for use only by residents of (AK, AR, AZ, CA, CO, CT, DC, DE, FL, GA, ID, IL, MA, MD, MI, MN, MO, NC, NH, NJ, NM, NV, NY, OH, OK, OR, PA, RI, SC, TN, TX, UT, VA, VT, WA, WI, WV, WY). Securities-related services may not be provided to individuals residing in any state not listed above. Please consult with the FA as s/he may not be registered in all states.

For parties residing outside of the U.S., this information is: (i) provided for informational purposes only, (ii) not and should not be construed in any manner as an offer to participate in any investment or to buy or sell any securities or related financial instruments, and (iii) not and should not be construed in any manner as a public offering of any financial services, securities or related financial instruments. Products and services listed may not be available, or may have restrictions, depending on client country of residence.

Investment products and services are offered through Wells Fargo Advisors Financial Network, LLC (WFAFN). Wells Fargo Advisors is the trade name used by Wells Fargo Clearing Services, LLC and WFAFN, Members SIPC, separate registered broker-dealers and non-bank affiliates of Wells Fargo & Company. Any other referenced entity is a separate entity from WFAFN.

Insurance products are offered through nonbank insurance agency affiliates of Wells Fargo & Company and are underwritten by unaffiliated insurance companies.

A note about Social Media: Opinions, comments and actions taken on Social Media are those of the third party and do not necessarily reflect the views of the creator of this profile or of the firm. Social Media is intended for U.S. residents only and subject to the following terms: wellsfargoadvisors.com/social.

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