Did you know that 25% of Defined Contribution Plan Sponsors expect to be sued in the next two years due to missed expectations? You can be found to be legally liable if you have not met your Fiduciary Responsibility to your employees with respect to your Pension Plan or Group RRSP.

Fiduciary responsibility, in broad terms, is the company's legal responsibility to watch over and act in the best interests of its retirement plan members whether in a formal pension plan/deferred profit sharing plan or a less regulated group RRSP. Acting in the best interests of plan members means being accountable for the investment management, administration, registration and communication aspects of the plan even though the actual delivery of these services could be from a third party.

In the past, some plan sponsors felt that offering a retirement income program was a `perk' and therefore legal repercussions from this employee offering would be out of the question. This is no longer the case because of situations in which sponsors have been held accountable by members in conjunction with regulatory bodies such as the Pension Commission of Ontario (now the Financial Services Commission of Ontario).

Most plan sponsors now recognize that fiduciary responsibility has become as much a part of business as providing accounting reports and that this function can be shared using third-party consultants but not shirked.

We can help you meet your Fiduciary Responsibility to your employees, by providing superior Education, by Keeping Your Employees On Track, by using Structured Portfolios and by offering regular reviews to ensure you meet and/or exceed the requirements of the CAP Guidelines.