304 / 537
I.
INTRODUCTION
The Plan is subject to Department of Labor and Internal Revenue Service reporting requirements. The Plan Sponsor,
ABC Company
(Sponsor)
intends that the Plan satisfy the provisions of Department of Labor regulations issued
pursuant to ERISA Section 404(c). This is a participant-directed plan.
It is the intent of the
Sponsor
to provide a range of investment options that will enable participants to diversify their
portfolio of investments and invest according to varying risk tolerance, savings time horizon, and financial goals.
Participants choose the investment options from among those available under the Plan, and may change their
investment choices as often as permitted by the Plan.
The objectives of the Plan include:
•
Attract and retain high quality employees.
•
Provide investment options which when combined with other investment options offer adequate
diversification.
•
Provide participants with the opportunity to supplement their retirement income.
•
Provide investment options that are diversified.
•
Select investment options that offer competitive risk-adjusted long-term returns.
•
Obtain plan services and investment options at a competitive and reasonable cost.
•
Control overall plan costs.
•
Provide participants with the opportunity to defer taxable income.
A Retirement Plan Committee
(Committee)
, appointed by the
Sponsor
, will select and monitor investment options that
support the attainment of the Plan’s objectives.
II.
FIDUCIARY'S DUTIES AND RESPONSIBILITIES
The retirement plan was established for the purpose of providing retirement benefits to eligible employees. The
Committee
recognizes its responsibility to manage the plan assets solely in the interest of the plan beneficiaries. The
Committee
further recognizes that the Employee Retirement Income Security Act of 1974 (ERISA) sets standards for
the fiduciaries of retirement plans. To meet these standards, the
Committee
will review the Plan’s Investment Policy
Statement, at a minimum of once a year to ensure, that this policy provides appropriate and adequate guidance in the
following areas:
1.
Investment Policy Guidelines & Objectives
The
Committee
will evaluate the retirement objectives and investment policy guidelines.
2.
Investment Options
The
Committee
will periodically review the investment options. The suitability of the investment
options to be provided to plan participants will be the focus of the review.
3.
Investment Review Procedures
Investment analysis, in the form of an Investment Review, will be prepared periodically by the
Registered Investment Advisor, (RIA)
(CBIZ Retirement Plan Services), and presented to the
Committee
.
The
Committee
will determine if the frequency and content of the Investment Review and review
meetings are sufficient to monitor the plan’s investment options.
Page | 3
20