A plan sponsor has certain responsibilities as a fiduciary that are outlined in Section 404(c) of the Employee Retirement Income Security Act (ERISA). With a Sterling Trust 401(k) plan there are some ways in which the plan sponsor may shift these responsibilities to the participant.

ERISA § 404(c) Outlined

• The plan sponsor must provide at least three (3) diversified investment options with materially different risk and return characteristics.

  Through your investment professional, you may select up to 15 mutual funds, company stock and an individually directed brokerage account within a Sterling Trust 401(k).

• Participants must be able to make investment changes at least quarterly.

  With a Sterling Trust 401(k), participants can make daily investment changes through Sterling Trust’s voice response unit, the participant web site or by telephone. Now your participants have 3 ways to make investment changes on a daily basis.

• Your plan must offer "sufficient information" for the participant to make informed decisions. The U.S. Department of Labor urges plan sponsors to provide plan information as well as interactive tools.

  With a Sterling Trust 401(k), you will be provided with a complete Administration Manual, which includes your Summary Plan Description and other plan disclosures. Participants will have access to Sterling Trust’s participant web site, which will meet any other needs they may have.