Savant Wealth Management

Retirement Plan Due Diligence That Supports Fiduciary Best Practices

Retirement plan sponsors are expected to make informed, prudent decisions and demonstrate how those decisions are made. This includes maintaining documentation, following consistent review processes, and aligning decisions with plan objectives over time.

Savant can help employers establish and maintain a due diligence process that supports fiduciary best practices by promoting consistency, documentation, and ongoing review.

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Why Retirement Plan Due Diligence Matters to Employers

Serving as a plan sponsor comes with fiduciary responsibility. Regulators, participants, and auditors increasingly expect employers to show not just what decisions were made, but how and why they were made.

A strong due diligence process can help employers:

Navigate growing regulatory scrutiny by establishing a consistent review and documentation framework

Assess fee reasonableness and service value over time

Monitor providers and investments consistently

Maintain documentation that reflects a prudent fiduciary process

When applied consistently, due diligence can help support prudent decision-making, provide structure for fiduciary oversight, and demonstrate a documented approach to plan governance.

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How Savant Supports Ongoing Due Diligence

At Savant, due diligence is embedded into how we support company retirement plans.

Our approach is designed to help employers:

  • Maintain fiduciary oversight through structured review and monitoring
  • Benchmark investments and fees using third-party and industry data
  • Establish and support plan governance practices
  • Create documentation that reflects a disciplined decision-making process

We work alongside plan sponsors to help ensure due diligence remains an ongoing and manageable part of plan oversight, rather than a reactive task triggered by change or concern. This may include regular reviews, defined responsibilities, and clear records showing how actions are evaluated and taken over time.

Fiduciary responsibility remains with the plan sponsor, but a well-defined framework can help demonstrate that decisions follow a documented, repeatable process aligned with plan objectives.

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Due Diligence Within Savant’s Retirement Plan Services

Due diligence is one component of Savant’s broader company retirement plan services. It works in coordination with plan design, investment oversight, participant support, and fiduciary guidance to help create a more cohesive retirement plan experience.

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Whether you’re reviewing your current process or evaluating a new retirement plan advisor, Savant can help you establish a clear, structured, and documented approach to due diligence.

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Frequently Asked Questions About Retirement Plan Due Diligence

What is retirement plan due diligence?

Retirement plan due diligence is the ongoing process of reviewing investments, fees, service providers, and plan governance to help ensure decisions are informed, documented, and aligned with fiduciary responsibilities.

How often should retirement plan due diligence be performed?

Due diligence is typically performed on an ongoing basis, with formal reviews conducted quarterly or annually, depending on the plan’s structure and needs.

What does fee benchmarking involve?

Fee benchmarking compares plan costs against similar plans to evaluate reasonableness and support fiduciary documentation.

Why is documentation important in due diligence?

Documentation can help demonstrate how decisions are made and provides a record that supports fiduciary oversight in the event of audits or reviews.

Who is responsible for due diligence in a retirement plan?

The plan sponsor retains ultimate responsibility, though certain tasks may be supported or delegated to advisors as part of a structured fiduciary process.

Key Components of an Effective Retirement Plan Due Diligence Process

Effective retirement plan due diligence focuses on consistent processes and documented oversight. While every plan is different, strong fiduciary practices typically include: