Fiduciary

ERISA, liability, fiduciary responsibility. Plan sponsors always have some form of Fiduciary status but they can share that responsibility with 3rd parties like plan advisers or other service providers. These adviser or providers can act as a 3(21), 3(38) or 3(16) fiduciaries. 3rd parties hired by plan sponsors are sometimes called co-fiduciaries.

Rethinking Retirement Support: Time for Plan Sponsors to Step Up

With nearly 59 million employees lacking access to workplace retirement plans, according to a recent TIAA study, we’re facing a retirement readiness crisis that demands...

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Plan Participants Want Lifetime Income Options But Few Plans Offer Them

Lifetime Options
Although  93% of 401(k) participants say it’s important for their plans to provide lifetime income options like annuities, most plans still only offer lump sum...

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Why Advisor Due Diligence Matters for 401(k) and 403(b) Plan Sponsors

Many plan sponsors are recognizing the complex responsibilities tied to managing retirement plans.  While ERISA requires them to act as prudent experts, most lack formal...

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401(k) Managed Accounts Can Help Improve Gen X Retirement Readiness

Gen X workers (ages 44-59) face unique hurdles on their path to retirement.  As the “Sandwich Generation,” they’re often simultaneously caring for both children and...

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Is Your Retirement Plan Advisor Fulfilling Their Fiduciary Function?

Retirement Plan Advisor Fiduciary Function
Investment oversight is one of your most critical responsibilities as a plan sponsor.  But how do you know if your retirement plan investment advisor is...

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