Talking Points About the 3(16) Role: Key Facts You Want to Know
With the ever-changing responsibilities of the retirement plan management role (including those associated with the most recent fee disclosure rules), plan sponsors and their advisors have been asking:
“How might a 3(16) Plan Administrator lessen our fiduciary liability and administrative burden?”
“How does a 3(16) fit within our existing retirement plan supply chain of vendors?”
Given this recent influx of questioning related to ERISA’s 3(16) role, Roland|Criss has published a “3(16) Talking Points” document that addresses common questions facing both advisors and plan sponsors when researching the option to outsource their fiduciary responsibility.
The 3(16) Talking Points brief addresses frequently asked questions about this important retirement plan management role, including:
- What is a 3(16) fiduciary?
- What is the benefit of a 3(16) to plan sponsors?
- What is the benefit of a 3(16) to advisors?
- What are my remaining responsibilities if I hire a 3(16)?
Click here to download a PDF formatted copy of our FAQ containing key Talking Points about the ERISA 3(16) role.
Did the 3(16) Talking Points brief answer your questions about the 3(16) role?
Post additional questions or comments below, or chat with us on Twitter, at @RolandCriss.
