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Retirement Committee Member Describes Responsibility for Plan Assets


Retirement committee members accept a substantial amount of responsibility when overseeing the investment of retirement plan assets.  Retirement Committees are increasingly considering professional plan fiduciaries to oversee retirement plan assets.  Many Retirement Committees now realize they 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 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, is still responsible for the plan investment results, but they feel more comfort by mitigating some of the investment risk when using the services of a 3(38) fiduciary.

Steff Chalk

Steff Chalk

Managing Editor at 401kTV
Steff C. Chalk is Executive Director of The Retirement Advisor University, a collaboration with UCLA Anderson School of Management Executive Education. Steff also serves as Executive Director of The Plan Sponsor University and is current faculty of The Retirement Adviser University.
Steff Chalk

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