IFLC is dedicated to the advancement of the ERISA fiduciary profession and those who are in it.
Join others throughout the U.S. who have benefited from information and services given to members since 2007. Join now and receive this year's annual IFLC Retirement Plan Services Purchasing survey to compare your plan to the best buyers of fiduciary support services in America.
If your job is selecting and monitoring vendors to your company's ERISA retirement plan, you owe it to yourself and your plan's participants to belong to IFLC. Receive all the benefits described here and belong to the best professional association for purchasing fiduciary support services.
As a member, you and your organization become more confident of your abilities because you are kept informed about the latest information concerning the fiduciary profession. You learn how to solve vendor problems that every retirement plan has. You prepare yourself and your company for the future. You obtain the benefits of membership in a professional organization and improve your chances for advancement. You support efforts to improve the stature of the fiduciary profession through a dedicated organization that has no bias in favor of any vendor.
Benefits to Members
Members receive Fiduciary Purchasing quarterly, IFLC's annual Retirement Plan Service Purchasing survey, 25 Tips for Outstanding Retirement Plan Purchasing, white papers on topics relevant to ERISA fiduciary duty, and many other publications.
Request for Proposal ("RFP") Help
The Department of Labor suggests that retirement plan sponsors should conduct a formal review of their plans' vendors at least every three years. Yet a formal RFP process can be time consuming and confusing. Members receive the RFP Preparer's Guide.
Fiduciary Fitness Rankings™ of Service Providers
Ever wonder how service providers such as investment firms, third party administrators, custodians, and trustees that serve pension plans stack up against authentic fiduciary support standards? IFLC does it for you. IFLC develops scores on hundreds of such service providers with continual updates. Help meet your duty under ERISA to monitor your service providers with
Fiduciary Fitness Rankings. It can help make your purchasing decisions more clear.
Members receive discounts on fiduciary training offered by IFLC's GetSMART program. Stewardship Methods and Responsibility Training is the SMART in GetSMART. Thorough, interactive, and fun, GetSMART makes fiduciaries more competent and comfortable in their role. Web-enabled and self-paced, it makes training easy. It comes with a certificate of completion. Members also receive discounts on seminars approved by IFLC. In-house training is available.
It is a sense of community that is the greatest strength and asset to IFLC and its members who reap the benefits of the combined knowledge, experience, and power of the organization for everything from retirement plan services purchasing insights to fiduciary best practices.
Experienced purchasing professionals give members free help in solving their fiduciary services purchasing problems. In most cases, answers to questions or suggested solutions can be received immediately via e-mail. On site help from highly qualified consultants with whom IFLC contracts can be provided at special member rates.
ERISA Fee Disclosure Compliance Standard
IFLC's members have access to the ERISA Fees and Conflicts Standard. Developed by a task force of stakeholders in the ERISA community, the Standard provides IFLC's members with specific steps to use for complying with the Department of Labor's Regulation 408(b)(2). The Regulation was effective in 2012 and requires that plan sponsors prove the fees their employees pay for services are "reasonable."
Take Your Place in IFLC's Retirement Plan Community
Improve your effectiveness during the time you spend overseeing your organization's retirement plan. IFLC is your best source for fiduciary services procurement practices and how to apply them.