As an investment adviser and manager, Financial Engines can serve as a fiduciary of your plan under ERISA, if applicable.
Plan sponsors who hire Financial Engines may obtain one or more fiduciary safe harbors, including liability protection under ERISA’s Investment Manager provisions. Additionally, our Professional Management program meets the Department of Labor’s Qualified Default Investment Alternative (QDIA) criteria.* As a managed account, it’s the only type of QDIA that can offer full safe harbor protection to those plans that include company stock.
*The safe harbor is available to plan sponsors of participant directed individual account plans subject to ERISA who prudently select and monitor a QDIA.