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The ERISA Advisory Group provides consulting and Independent Fiduciary services for ERISA covered plans including Qualified Retirement Plans and Health and Welfare Plans. The Managing Member, William J. Kropkof, has been appointed as an Independent Fiduciary since 1995 and is an expert in ERISA covered Plans. Mr. Kropkof has been appointed on cases by the U.S. Department of Labor, IRS, U.S. Bankruptcy Courts and has worked closely with the DOL, IRS and U.S. Attorney’s Office on both civil and criminal cases.
ERISA imposes complex responsibilities and restrictions on fiduciaries of employee benefit plans, and sets the standards for the operation (administration) and the investment of plan assets. In addition, ERISA establishes the bonding and reporting disclosure requirements for employee benefit plans and their fiduciaries. Whether a Plan Sponsor is seeking professional advice on their Plans (Qualified Retirement Plan or a Health and Welfare Plan) and whether it is voluntary on their part or if they are being mandated to do so by a Federal government agency; this is when an Independent Fiduciary is hired. If you are a Plan Sponsor, Trustee or Plan Administrator of an ERISA covered Plan, it would be in your best interests to engage an Independent Fiduciary for Fiduciary Audits, Compliance Reviews, and transactional reviews (contracts, unique transactions, RFP) in order to prevent violations before they occur. It is important that you seek a professional expert in this area.