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The Plan Sponsor University Announces New Service for 401(k) & 403(b) Plan SponsorsRPA Due Diligence Center Helps Plans Conduct Required Due Diligence and Find New Retirement Plan Advisors JUPITER, Fla., Oct. 26, 2022 /PRNewswire/ -- After over 550 half day training programs with 10,000 defined contribution plan sponsors, TPSU, in collaboration with sister organization The Retirement Advisor University (TRAU), is pleased to announce a new service to help plan fiduciaries conduct required due diligence on their retirement plan advisor (RPA) or find a new one. The most important decision a plan sponsor makes is finding the right retirement plan advisor. The most important decision a DC plan sponsor makes is selecting an advisor, yet there are few accredited national resources available. ERISA plans have a fiduciary requirement to conduct periodic due diligence and requests for proposal (RFPs) for all providers, including record keepers, money managers and advisors, paid out of plan assets. While an RPA can help perform unbiased due diligence for other providers, they cannot for themselves. Even if very satisfied with their current RPA, ERISA plans are required to conduct documented due diligence as a prudent expert. Plans can now work with prudent expert TPSU to help just as they leverage their RPA to conduct due diligence for other providers. "As litigation increases with 200 lawsuits in the past two years wit recently targeting advisors offering proprietary investments and services, plan sponsors must conduct third party due diligence to protect themselves and their organization and make sure they are working with the right advisor for themselves and their employees," states Fred Barstein, CEO, and founder of TPSU, TRAU and 401kTV. The RPA Due Diligence Center (rpaDD) was created after numerous requests from TPSU attendees for assistance. TPSU is not affiliated with any provider or advisory firm and has become the most trusted education and training organization and media source through 401kTV. Sister organization TRAU, a collaboration with UCLA Anderson, has trained thousands of RPAs with over 1,000 active Certified 401k Professionals (C(k)P), the only industry certification that works with a national university and requires real world experience. Steff Chalk, Executive Director at TPSU, TRAU and 401kTV notes, "As advisor fees have dropped over 50% in the past five years with more attention on using their retirement plan to attract and retain employees, plans are looking for advisors that have financial wellness tools and experience." TPSU's rpaDD Center offers a simple benchmarking, anonymous request for information (RFI) or a full RFP. While the plan may include advisors on their own, only active C(k)Ps who TRAU monitors regularly will be eligible to respond to RFPs and RFIs. For more information, email: [email protected] LINK TO RPADD FORM: https://www.tpsuniversity.com/rpadd-center ABOUT TPSU: https://www.tpsuniversity.com ABOUT TRAU: https://www.trauniversity.com ABOUT 401KTV: https://401ktv.com
SOURCE The Plan Sponsor University 
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