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Credit Unions: Make Sure You Know Your Fiduciary

…a 3(16) 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…

Keeping an Eye on the Ever-Pending Changes to the Fiduciary Standard

…like a good time to revisit the topic and provide some updates. Discussions about changes to the fiduciary standard as applied under the Employee Retirement Income Security Act of 1974 (ERISA) took some five years, with the new fiduciary rule finalized by the U.S. Department…

Dealing with the DOL and Missing Plan Participants

fiduciary outsourcing — the transfer of legal responsibility for a retirement plan to an institutional fiduciary. Many employers select themselves as the ERISA Named Fiduciary, 3(16) Plan Administrator, and Trustee because they believe there are few other options – but that is not the case….

3(16) Fiduciary Services and Why You Should Care

…too, play an investment fiduciary role unless they partially or fully outsource that function to an investment professional. What many of them don’t appear to recognize is that they also wear another important fiduciary hat based on their control and authority over the administration of…

What’s Really New About Investment Outsourcing?

…dating their history back to the 1980’s or early 1990s. The OCIO market can involve either a partial outsourcing to external experts of the investment management of certain specialized asset classes (such as private equity or alternatives) or a complete outsourcing to an external manager…

Fumbling the Fiduciary Ball

…the emails my company sent with the required notices and delivery instructions … but he assumed we were handling them. We were not.” The lesson here should be self-evident: If in doubt, re-read your plan document – or at least consult with your 3(16) fiduciary….

PENTalk™ – The Pentegra Fiduciary Smartpath™

…the role of a plan fiduciary and the responsibilities fiduciaries have to a retirement plan and its participants. The Pentegra Fiduciary SmartPathTM is designed to help you understand your fiduciary responsibilities and corresponding liabilities and offers best practice recommendations and guidance for managing these duties.”…

Pensions, Retirement and Markets: Five Questions for 2020

…versus external risk factors such as tariffs, slowing global economies, Brexit, oil prices and geopolitical tensions. 3. Where are regulations around fiduciary standards headed? In 2018, the move toward a uniform fiduciary standard for brokers and advisors was disrupted when the Department of Labor (DOL)…

Five Key Concerns for Retirement Plans in 2020

…As retirement plan providers and advisor-partners, it is incumbent upon our industry to remind plan sponsors of these responsibilities. In some cases, outsourcing these fiduciary responsibilities might be an even better solution. Distraction. This can be a significant contributing factor to litigation. As a recent…

The Fiduciary Standards Conversation is Just Beginning

…the game is afoot. For a discussion of current fiduciary law and the country’s options with respect to standards of care, see my paper “Blueprint for a Universal Fiduciary Standard of Care in the U.S. Financial Services Industry,” published in the New York University Review…

Administering Your Own Plan: What Could Possibly Go Wrong?

…working in the field, one that offers fiduciary outsourcing and 3(16) administrative services. An independent ERISA Section 3(16) fiduciary relieves an employer of nearly all fiduciary liabilities for their plan. Why is it important to use a 3(16) administrative fiduciary for your plan? Because of…