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Governance Maturity Assessment Engine

Score your fiduciary processes against institutional best practices

Objective Scoring

120-point assessment across 6 ERISA fiduciary domains

Peer Benchmarking

Compare against Fortune 500, private equity, and industry standards

Roadmap

Prioritized action plan to close governance gaps

From Ad Hoc to Institutional

Most employers run benefits like a procurement exercise—annual broker meeting, sign renewals, move on. Institutional fiduciaries (pension funds, endowments) operate under continuous governance: documented processes, independent oversight, evidence-based decisions, annual audits. Our engine scores your current state across 6 fiduciary pillars and shows you the path to institutional-grade governance.

The Six Governance Pillars (20 points each, 120 total)

1. Committee Structure
  • • Formal benefits committee with charter
  • • Named fiduciaries with clear roles
  • • Meeting cadence (quarterly minimum)
  • • Minutes documenting all decisions
2. Decision Documentation
  • • Written investment policy statement
  • • Vendor selection RFP process
  • • Fee benchmarking reports
  • • Decisions traceable to evidence
3. Independent Oversight
  • • Independent fiduciary advisor (fee-only)
  • • Annual external audit or review
  • • Board-level reporting on fiduciary risk
  • • Conflicts of interest policy
4. Vendor Management
  • • Competitive RFP every 3-5 years
  • • Fee transparency requirements
  • • Service level agreements (SLAs)
  • • Performance monitoring dashboards
5. Risk Management
  • • Fiduciary liability insurance
  • • Fraud/error controls
  • • Regulatory compliance monitoring
  • • Whistleblower hotline
6. Education & Training
  • • Fiduciary training for committee members
  • • Employee benefit literacy programs
  • • Annual compliance calendar
  • • Succession planning for key roles

Maturity Benchmarks

Ad Hoc (0-40 points)

High Risk

No formal committee, broker-driven decisions, verbal approvals, no documentation. Decisions made reactively at renewal. High litigation and DOL audit risk.

Typical Profile: Small employer (under 500 lives), HR generalist managing benefits part-time, relying entirely on broker recommendations

Developing (41-70 points)

Moderate Risk

Informal committee exists, some processes documented, decisions mostly broker-driven but with internal review. Some competitive bidding but inconsistent.

Typical Profile: Mid-market employer (500-2,000 lives), dedicated benefits manager, annual renewals follow process but limited independent validation

Managed (71-95 points)

Lower Risk

Formal committee with charter, documented processes, regular RFPs, some independent oversight. Evidence-based decision making most of the time. Board receives periodic updates.

Typical Profile: Large employer or PE-backed company (2,000+ lives), benefits committee meets quarterly, uses third-party advisors for major decisions

Institutional (96-120 points)

Best Practice

Full fiduciary infrastructure matching pension fund standards. Independent oversight, annual audits, all decisions evidence-based and documented, continuous monitoring, board-level accountability.

Typical Profile: Fortune 500, sophisticated PE operators, self-insured health systems—treating health benefits with same rigor as pension governance