AXA Equitable Releases Fiduciary Info Product

AXA Equitable has unveiled the Fiduciary Toolkit, a resource available through its Retirement Strategies 401(k) product aimed at helping small to mid-size defined contribution plan administrators manage their fiduciary obligations.

A news release said the Fiduciary Toolkit and its companion CD guide contain required forms and to-do checklists. The new offering guides plan fiduciaries through their obligations on:

  • naming a fiduciary,

  • selecting plan providers,

  • plan design,

  • a model investment policy statement,

  • election of Employee Retirement Income Security Act (ERISA) 404(c),

  • employee communications,

  • employee education, and

  • investment review.

According to AXA Equitable, the new offering is designed to help those running small and mid-size plans avoid 10 common fiduciary problems, including not:

  • documenting fiduciary decisions,

  • maintaining supporting documentation related to the plan’s investment, administration, monitoring and management,

  • interviewing and gathering all the facts necessary to a make prudent decision regarding the choice of the service provider,

  • interviewing and gathering all the facts necessary to understand the fee arrangements regarding the plan, its service providers and its investments,

  • monitoring the service providers and revisiting the choices of those providers,

  • bidding out the job for service providers and documenting that process,

  • clearly understanding the various responsibilities of service providers,

  • forwarding employee contributions within a reasonable amount of time,

  • understanding the interrelationships of service providers and who is providing what services, and

  • clearly understanding what the plan is invested in, especially if the plan is using investment options such as hedge funds and financial derivatives.

More information about the company is at