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Our Approach

Our Mission and Philosophy

At MJM401k, our mission is very straightforward:

As a professional ERISA fiduciary, we provide support to our client companies in helping them manage the risks and challenges that come with operating a 401(k) plan, and in so doing, maintain a plan that will help their employees accumulate the assets needed for a financially dignified retirement.

We do this with the fundamental belief that it is our job to provide plan committees with both the knowledge and data they need to make good decisions and to properly discharge their fiduciary responsibilities. We endeavor not simply to relay information, but to delve more deeply into the reasons behind our advice.

Fulfilling Fiduciary Responsibilities

Our firm is dedicated to assisting our clients in fulfilling their fiduciary duties under ERISA, so we provide a wide range of support, tools and processes to help them manage their 401(k) plans. We offer fiduciary training for both committee members and internal benefits staff. MJM401k also equips its clients with checklists to ensure that all plan-related fiduciary functions are being completed on a timely basis, and we discuss applicable administrative/compliance issues at each of the quarterly committee meetings. In order to further ensure that fiduciary responsibilities are being met, we encourage Committee members and internal staff members to call us whenever they have plan-related questions. We do not expect our clients to be experts on ERISA fiduciary issues – what is most important is that they have sufficient training to recognize issues that should be presented to us for resolution.

As part of our responsibilities, we will:

Our Standard of Care

MJM401k serves as a fiduciary to all of our clients’ 401(k) plans. We explicitly document this fiduciary standard of care in our engagement agreement and can structure our relationship with a plan as either an ERISA §3(21) investment consultant or as an ERISA §3(38) investment manager. Under a §3(21) arrangement, all of our recommendations are subject to the approval of the Committee, and thus the fiduciary liability is shared with the Committee. Under a §3(38) arrangement, we assume all of the fiduciary liability by having the sole discretionary responsibility for the recommendations and their implementation, thus relieving the Committee of this particular responsibility and liability.

As fiduciaries to a 401(k) plan, we are bound by the same standard of conduct and are responsible to the same extent as is the Committee. Therefore, any failure to meet fiduciary obligations would inure to MJM401k as well as to the 401(k) plan sponsor. We find that failures to meet fiduciary obligations are generally a result of the failure to:

MJM401k has significant experience in 401(k) plan governance matters, and has worked with numerous employers in helping them establish and maintain process discipline around the fiduciary function. This experience forms the basis for the manner in which we fulfill our client services.

Creativity, Innovation and Forward Thinking

Keeping up with the ever-changing sphere of 401(k) plans requires plan sponsors to exercise creativity and innovation in the design and operation of their plans. MJM401k has been at the forefront of emerging industry trends, and as such, we are able to position our clients on the cutting edge of 401(k) best practices. Our firm boasts a distinguished history of forward thinking. We were among the first to:

Client Satisfaction

MJM401k is dedicated to superior client service and satisfaction. This pledge is supported by the fact that we have never lost a client due to service issues. We solidify our clients’ expectations and objectives at the outset of our relationship so that they can feel assured that all of our services will be directed toward accomplishing their goals. If our services fail to satisfy our clients, we will make the appropriate corrections immediately, and/or refund fees for any services they do not feel were performed appropriately.