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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

…the practice can also serve to insulate them and their bank from a number of risks.Outsourcing to a sanctioned third-party fiduciary guarantees that a given plan’s documentation is up to date, complies with all laws and regulations, and delivers appropriate disclosures to plan participants and

Taking Steps to Improve Your Fiduciary Position

…to whom fiduciary status is assigned. Those proposed rules were rescinded in the face of public and financial industry complaints – and again in 2015, which likewise were greeted with a significant amount of criticism. When the DOL Fiduciary Rule was finally set into motion…

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)?

…selects and monitors plan investments, offering a fiduciary process that includes an investment policy statement, investment evaluation and selection,and ongoing monitoring and performance reporting. The ERISA section 3(38) investment fiduciary oversight and responsibility that the MEP sponsor assumes relieve advisors and their clients of potential…

Future of the Fiduciary Rules in a Nutshell

…participants and beneficiaries. A considerable amount of confusion and concern has been the result for those in and around the 401(k) industry, centered around the question of whether the new reporting and compliance requirements will make client service more expensive and ultimately force brokers to…

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

and that all fiduciaries are bonded as applicable, registers with the DOL as a PPP, is subject to audit by the DOL, and acknowledges named fiduciary and 3(16) status in writing. “Bad Apple” Rule Relief Both closed MEPs and PEPs are able to provide for…

The DOL Fiduciary Rule Is Here Faster Than We Think

…PowerPoint Presentation, 2017. Gorman, Maureen and Lennine Occhino. “DOL Fiduciary Rule: Impact and Action Steps”, Harvard Law School Forum on Corporate Governance and Financial Regulation, July 21, 2017. NOTE: Information presented herein is for discussion and illustrative purposes only, should not be construed as legal…

The Fiduciary Rule: Where Does it Stand?

…a proposed fiduciary regulation to be overseen by the state’s Bureau of Securities. The rule would create a uniform fiduciary standard for brokers and registered investment advisers. New Jersey is not expected to act alone on this, as states such as Massachusetts, New York and

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”…