At Kaizen Retirement Plan Consultants, our focus is on helping plan sponsors navigate retirement plan responsibilities with clarity and structure. Whether you are an experienced fiduciary or managing your first plan, these FAQs address common questions related to plan oversight, fiduciary roles, and plan management.

Fiduciary Guidance

• What does it mean to be a fiduciary under ERISA?
  A fiduciary is anyone who exercises discretionary authority over a retirement plan or its assets, including plan sponsors, committees, and advisors. Fiduciaries must act solely in the best interest of participants and beneficiaries, with legal and financial accountability.

• How does Kaizen RPC support fiduciary responsibilities?
  We provide fiduciary support as either a 3(21) co-fiduciary (offering recommendations while the plan sponsor retains decision-making authority) or as a 3(38) investment manager (with discretionary authority over investment selection and monitoring).

  In both roles, services may include investment monitoring, documentation support, and governance resources designed to support plan oversight.

Plan Design & Strategy

• Can you help improve participation and savings rates?
  We review plan design and workforce demographics and may recommend features such as automatic enrollment, automatic escalation, or employer contribution structures. We also support employee communication efforts related to these features.

• How often should our plan be benchmarked?
  Typically on an annual basis. We compare fees, services, and investment options to similar plans to provide perspective and identify areas for review.

Vendor Coordination

• Do we have to change recordkeepers to work with Kaizen RPC?
  Not necessarily. We work with a range of major providers and can support your current recordkeeper. If a change is appropriate, we assist with RFP processes, provider evaluation, and due diligence.

Investment Oversight

• How do you monitor our investment menu?
  We use a structured process supported by RPAG tools, applying consistent screening criteria and providing reports, recommendations, and documentation to support fiduciary decision-making.

About Kaizen RPC

• What is the focus of Kaizen Retirement Plan Consultants?
  Our practice is dedicated exclusively to retirement plan consulting. The name “Kaizen” reflects a focus on continuous improvement, supported by structured processes and ongoing refinement in plan oversight and support.

• Are you a fiduciary?
  Yes. We act as a fiduciary under ERISA Section 3(21) or 3(38), depending on the engagement. The scope of our fiduciary responsibilities is defined in each client’s written agreement.

Fiduciary Disclosure

Retirement plan advisors acting as fiduciaries have responsibilities and limitations defined by their role under ERISA.

As a 3(21) fiduciary, we provide investment recommendations while the plan sponsor retains final decision-making authority. As a 3(38) investment manager, we accept discretionary authority for investment selection and monitoring, limited to the investment function.

In both roles, fiduciary responsibilities are limited to investment-related duties and are defined by the scope of each client’s written agreement.