Blue Ridge ESOP Associates can provide everything you need to administer your ESOP, 401(k) or combination ESOP/401(k) plan. Our full service outsourcing, which can include participant on-line services, provides worry-free assistance for your HR or Benefits staff, leaving them free to concentrate on other responsibilities.
Trustees often wear multiple "hats" as Officers and Board members, but they are obligated to define clearly when they make decisions in a particular capacity. Regulators are looking for clear processes and documented procedures and ESOP PlanGovernance™ makes this responsibility easier. When you use your calendar create electronic meeting agendas and record minutes of your meetings you will have a clear record of your fiduciary process. No more physical filing cabinets!
ESOP PlanGovernance™ is an optional feature for ESOPConnection™ that is designed to meet the needs of your Administrative Committee and Trustees. PlanGovernance™ facilitates compliance with the applicable ERISA fiduciary and documentation requirements, which streamlines your ESOP administration and minimizes your legal exposure. Some highlights include the ability to:
Schedule meetings, prepare agendas, prepare minutes and create resolutions.
Archive all documentation of the Committee and Trustees.
Create an annual ESOP Calendar of responsibilities and timelines along with corresponding meetings and minutes.
Access ESOP template forms, policies and procedures to allow the client to quickly and easily create their own customized versions (e.g. distribution polices, QDROs).
Use a Plan Governance Roadmap with training and guidance on fiduciary duties and liabilities, insurance and indemnification, and updates on regulatory issues.
Instantly retrieve all ESOP related documents online.