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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…

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…

Future of the Fiduciary Rules in a Nutshell

…the definition of who could be classified as a fiduciary. Essentially, under the new rules anyone serving as an ERISA fiduciary has the authority to control and manage the operation of a retirement plan, but must do so solely in the best interest of plan…

Check Fiduciary Liability Coverage

…the retirement plan against misappropriation of funds by individuals handling the plan’s assets. However, the fidelity bond does not protect against claims for losses sustained because of a breach of fiduciary duty. Fiduciary Liability Insurance Protection Fiduciary liability insurance provides protection for trustees and other…

What 401(k) RESA Legislation Means for MEPs and PEPs

…it could very well be that PEP governance will in fact take a dramatic departure from established ERISA governance in this respect. Service providers and advisors tend not to like the “independent board made up of adopting employers” answer because a board can be hard…

The DOL Fiduciary Rule Is Here Faster Than We Think

…Compliance rules for BICE differ for ERISA and non-ERISA Plans. In summary, key provisions of the DOL Fiduciary Rule are already in place and are significantly impacting the landscape of investment advice and fee structure. The main building blocks of the Rule are fiduciary advice,…

The Fiduciary Rule: Where Does it Stand?

The fiduciary rules governing investment advice by Registered Investment Advisers (RIAs) and broker/dealers are currently in a state of transition. The “DOL” prefix no longer applies- the 2017 Department of Labor (DOL) fiduciary standard, also known officially as the “Conflict of Interest” rule, was repealed…

Credit Unions: Make Sure You Know Your Fiduciary

fiduciary acts as the sole plan administrator, and therefore is responsible for managing the plan’s day-to-day operations. A 3(38) fiduciary can only be a bank, insurance company, or registered investment adviser; here the plan sponsor hands over authority to the 3(38) fiduciary to make its…

PENTalk™ – Be the Fiduciary Outsourcing Expert

“Join us on a deep dive into how you can be a fiduciary outsourcing expert as we discuss fiduciary outsourcing trends…and how you can take advantage of it. Learn: Who is a good 3(16) prospect Key 3(16) due diligence questions The 30 second sales opener”…