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What is Fiduciary Outsourcing

Fiduciary outsourcing is the transfer of responsibility associated with running a retirement plan to an institutional fiduciary. The key advantage fiduciary outsourcing offers plan sponsors-the expertise that comes with a comprehensive fiduciary governance process to ensure better results. WHAT ARE THE KEY FIDUCIARY RESPONSIBILITIES INVOLVED…

What Does Fiduciary Governance Encompass

done so. WHAT DOES A FIDUCIARY GOVERNANCE PROCESS LOOK LIKE? A good fiduciary process should include the following: Identification of fiduciaries, including a process for selecting and monitoring them; Allocation and delegation of fiduciary duties: ”Allocation” is the term for division of responsibilities among named…

The Potential New Fiduciary Reality for Plan Sponsors

named fiduciary is, therefore, the plan’s CEO; the trustee, its CFO; the 3(38) investment fiduciary, the plan’s CIO; and the 3(16) administrative fiduciary is its COO. The ERISA-named fiduciary/CEO holds the highest level of fiduciary responsibility for the plan, acts as its principal fiduciary and…

The Ins and Outs of Fiduciary Outsourcing for Community Banks

more unrelated employers participate. As each bank has its own separate boards of directors, the advantages of having an independent fiduciary to manage and administrate the plan are readily apparent.All of that said, there will remain some fiduciary responsibilities and liabilities for the fiduciary responsible…

3(16) Fiduciary Outsourcing. It’s A No Brainer

realize that it was a timely topic for a blog, so I took the opportunity to share the three questions that I get asked the most when it comes to 3(16) fiduciary outsourcing. 1. Which Employers are a Good Fit for Full 3(16) Outsourcing? This…

Types of 3(16) Administrative Services

…of the labor. The Separate Fiduciary (an Added Layer). An independent fiduciary is appointed as named fiduciary and/or 3(16) administrator as an added layer in the plan document and other governing documents and contracts. The fiduciary is not the TPA or recordkeeper but becomes the…

Taking Steps to Improve Your Fiduciary Position

Fiduciary regulations continue to evolve, much to the exasperation of those who are not experts in the field but are still acting as fiduciaries for their company’s retirement plan. The Fiduciary Rule proposed by the Department of Labor (DOL) went through a number of permutations…

PENTalk™ – Be the Fiduciary Outsourcing Expert

dive into how you can be a fiduciary outsourcing expert as we discuss fiduciary outsourcing trends…and how you can take advantage of it to grow your retirement practice. Fiduciary outsourcing trends Which employers are a good fit for 3(16) Fiduciary Outsourcing The 30-second sales opener”…

What is a Multiple Employer Plan (MEP)?

…that may result in lower plan costs. As an adopting employer in a MEP, what is your fiduciary role? One of the key benefits of participating in a multiple employer plan is fiduciary relief-as the MEP sponsor assumes principal fiduciary responsibilities associated with sponsoring a…

Is Your Company Overlooking These Common Fiduciary Duties?

…the time and headaches associated with the correction. Outsourcing eliminates the problemThere is a simple solution—fiduciary outsourcing. Hiring a firm to serve as an institutional named fiduciary, trustee, and 3(16) administrator can solve the problems and ensure that you are addressing these many details of…