“We offer plan sponsors the option of appointing a professional, outside expert to act as the official plan administrator, as defined in Section 3(16) of the Employee Retirement Income Security Act [ERISA],” said Koehler, who is EFA’s CEO.
According to Koehler, using EFA will allow plans to outsource many of the time-consuming efforts required for proper plan management and oversee all of the vendors providing administrative services. “We accept the delegation of fiduciary responsibility that goes along with this role,” he said.
Koehler has been designated as a registered fiduciary by the Fiduciary Standards Board and validated by DALBAR Inc.
More information is available on the firm’s website at http://erisafiduciaryadministrators.com.