Third Party Trustees

Does the Qualified Pension Plan have a Third Party Trustee that takes fiduciary responsibility?
 
The assets of a pension plan must be held and invested solely for the benefit of the participants and may not be used by the company. They must be protected from events that may occur in the company.

A Third-Party Trustee that assumes the fiduciary responsibility helps to protect the pension assets for both the employer and the participants. The Third-Party Trustee receives contributions and invests them directly into the plan's funds as selected by the participants.

The Third -Party Trustee also issues and mails distribution checks and prepares 1099's for year-end tax reporting for terminated employees. Beneco Benestar plans have a Third-Party Trustee that executes all of the above responsibilities.

In addition, Benestar plans have a Registered Investment Advisor that analyzes and selects the investment funds, monitors investment performance, and recommends removing/adding funds and/or fund managers whose performances are measured with the industry's recognized "benchmarks."