Westminster Consulting Brochure Defined Contribution | Page 11

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FIDUCIARY COMPLIANCE RESOURCE CENTER
he Fiduciary Compliance Resource CenterSM (FCRC) is a secure web-based fiduciary management platform designed
to assist investment fiduciaries in managing their responsibilities by promoting procedural prudence, consistent
documentation, collaboration among members and professionals, and an easy-to-access document library. Here at
Westminster, we have a Software Project Developer on staff who created FCRC specifically for our clients - to make
the fiduciary process simpler.

Through online review and collaboration, the interactions between fiduciaries and vendors are streamlined, thus improving
efficiency and plan effectiveness. Access to FCRC enables fiduciaries to efficiently retrieve and review agendas, meeting notes
and minutes, recommendations, and committee decisions in a timely and secure manner.

PLAN SPONSOR BENEFITS
Manage Fiduciary Responsibility
• Provides tools for documentation
• Promotes committee collaboration and
consistency in decision making
• Engages plan committee members
• Aligns committees with fiduciary excellence

Mitigate Fiduciary Liability
• Provides easy access to archived documents
• Demonstrates process
• Exemplifies due diligence

KEY FEATURES
Document Library and Workbin

FCRC has two document retention systems— the Workbin
and the Document Library. Both serve as a medium for
organization and work flow management, and each committee
has unlimited file storage. This reduces clutter and provides
an easily navigated electronic paper trail than ensures clear
documentation and evidence of decision making in the event
of a challenge or review.

Workbin

The Workbin provides an online collaboration space for work
in progress. Minutes, agendas, annual board reports and other
items that a committee must have access to, can be stored here
while pending review, edits, and approval. Using the comment
tool, committee members can easily comment and collaborate
on all work in progress.

Library

The Library is designed for archiving finished plan documents,
regulatory reports, vendor materials, performance reports, and
other documents the Committee deems important. The Library
allows committee members to have easy and secure access to
plan documents anywhere they have an internet connection.

Calendar

The calendar reminder system helps users to keep tabs on
the status of tasks and deadlines assigned to your committee
members and important regulatory filing dates.

Minutes

The minutes template provides a consistent and concise
format for recording committee minutes. The template
allows for collaboration between the committee secretary
and consultant for a more efficient and streamlined workflow.
Notifications are sent out when minutes are created,
commented on, and published for assignment.

Agenda

The agenda template promotes collaboration and
accountability. It features the ability to create assignments,
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