Fiduciary Fumbles: How Do Plan Sponsors Choose the Right Fiduciary?
An article published last week by Employee Benefit News titled, “Which type of fiduciary should plan sponsors hire?” compares the differing responsibilities of 3(16), 3(21), and 3(38) fiduciary providers. In short, the roles broke down as follows: 3(16) – Plan...The Right Way to Construct a TPA / 3(16) Service Provider Model
The retirement plan industry ebbs and flows with trends. Many of the headlines over the past decade have concentrated on investment products, such as target date funds, risk-based allocation funds, and low cost exchange traded funds. In recent years, the ramp up of...3(16) Fiduciary: New Flavor, or Simply a Matured Palate?
An InvestmentNews article published this week was titled, “New flavor of outsourced fiduciary for retirement plans hits the market.” In it, the author introduces the “newest offering of fiduciary duty under Section 3(16)” of ERISA – the 3(16) plan administrator. But...Two Takeaways from Fidelity’s Court Battle
For Fidelity Investments, the reversing of Tussey v. ABB (in which Fidelity was originally accused of excessive 401(k) fees) is undeniably a win in the short term for Fidelity. But what has this landmark case taught us about the Department of Labor’s interpretation...Contact us…
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