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Investment Fiduciary Committee Responsible for Plan Assets

Investment Fiduciary Committee Responsible for Plan Assets

Investment Fiduciary committee members accept a substantial amount of responsibility when overseeing the investment of retirement plan assets. Retirement plan fiduciaries who oversee retirement plan assets have the option of hiring a 3(38) retirement fiduciary to help in maintaining a prudent fiduciary process. At the conclusion of a Plan Sponsor University (TPSU) Fiduciary Education Program held at the location of the University of California Irvine – UC  Irvine, TPSU Founder, and CEO Fred Barstein spoke with Steve, a repeating attendee at the Plan Sponsor University in Irvine, California. Steve discusses his firm’s history and experience in utilizing a 3(38) fiduciary investment professional.  Steve’s retirement committee has used such a fiduciary professional and the committee has become comfortable with the functions and reporting that the 3(38) investment fiduciary provides.  The committee is aware that they, the committee, are still responsible for the plan investment results, but they feel more comfort by mitigating some of the investment risks when using the services of a 3(38) fiduciary.

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401k Fiduciary RFP Helps Identify Favorable Outcome Practices

401k Fiduciary RFP responsibilities normally fall to the Retirement Committee members and other trustees.  Retirement plan committees and fiduciaries should periodically benchmark their plan service providers.  Make sure that the fees the plan is incurring and paying, and the value ...