Westminster Consulting Brochure Defined Contribution | Page 9

COMPREHENSIVE RETAINER SERVICES
Ongoing Fiduciary Oversight
Westminster Consulting provides an integrated and comprehensive program of Ongoing Fiduciary Oversight to plan fiduciaries.
Most Westminster Consulting clients utilize this integrated suite of consulting services. Westminster Consulting provides
fiduciaries with analysis and insight to effectively evaluate their plans and manage the associated legal responsibilities.

Ongoing Fiduciary Oversight has four distinct components:

1 PERFORMANCE OVERVIEW—MONITORING & ANALYSIS
• Review investments and their compliance with IPS guidelines
• Provide fiduciary scoring and commentary on investments
• Quarterly review of plan demographics and asset distribution
• Review peer group and index benchmarks to current investment options
• Development and maintenance of a plan investment option “bench-list”

2 DUE-DILIGENCE
• Review and modify, as necessary, the Investment Policy Statement(s)
• Coordinate periodic Investment Manager interviews
• Coordinate annual plan review with Committee and plan vendor
• Conduct a plan record keeper benchmarking study on a mutually agreed upon frequency

3 FIDUCIARY EDUCATION & TRAINING

EACH COMMITTEE MEETING WILL INCLUDE TOPICS SUCH AS:
• Basics of fiduciary responsibility
• Review legal and regulatory changes and trends
• Coordinate outside experts addressing the Committees on fiduciary topics
• Modern portfolio theory (MPT) and investment performance
• Best practices among retirement plan committees

4 COMPLIANCE
Using our dedicated Plan Committee website, the Fiduciary Compliance Resource Center® (FCRC), we will coordinate
the Committee compliance requirements for documentation, due diligence and plan governance. The FCRC is our
firm’s proprietary web application specifically designed for our clients to assist them in the management and execution
of their duties and responsibilities as fiduciaries under ERISA. The FCRC was engineered to manage documentation
consistently, provide secure collaboration between Committee members, and to provide a robust document library for
safe and convenient storage of plan-related documents.

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