Industry Missing Mark on Employer Fiduciary Concerns
Employers pushed to the background amid fiduciary rule positioning While the DC industry is hyper focused on the DOL’s fiduciary rule and how it will affect...
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.
