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Plan Sponsor Newsletter: Fiduciary Plan Governance Q1 2024

Plan Sponsor Newsletter: Fiduciary Plan Governance Q1 2024

| March 25, 2024

As a responsible plan sponsor, it is crucial to ensure that you are fulfilling your fiduciary duty and maintaining proper plan governance. In this newsletter, we will discuss organizing fiduciary files and benchmarking your retirement plan to help you enhance your fiduciary plan governance. Plus, we explore how profit sharing can help reduce your company's tax liability and express gratitude towards your employees.

By implementing these strategies, you can further strengthen your fiduciary governance practices and contribute to the long-term financial well-being of your employees.

Please don't hesitate to reach out to our team. We are here to support you every step of the way.

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About Your Syracuse Area Retirement Advisor

Our firm, Independent Retirement Partners, is solely dedicated to the success of plan sponsors and participants and we have dedicated our firm to developing competitive, compliance driven retirement plans. We strive to minimize a plan sponsor’s efforts in running a successful retirement program by helping make sure all the gears are running smoothly, including fiduciary liabilities, financial wellness programs, and plan implementation.


Matthew C. Monroe, AIF®, CRPS®

Managing Partner

290 Elwood Davis Road, Suite 220

Liverpool, NY 13088

mmonroe@irpny.com

(315) 431-2888

www.irpny.com

 

Securities Offered Through LPL Financial. Member FINRA/SIPC. Investment Advice offered through Retirement & Benefit Partners of Central New York, a separate entity from LPL Financial.

This information was developed as a general guide to educate plan sponsors and is not intended as authoritative guidance or tax/legal advice. Each plan has unique requirements, and you should consult your attorney or tax advisor for guidance on your specific situation.

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