Many financial organizations tout the benefits of their ERISA 3(16) fiduciary services and, frankly, many of these messages can sound irresistibly compelling. But buyer beware; not all 3(16) fiduciary services are created equal. In today’s increasingly litigious environment, it is imperative for plan sponsors to…
…against losses due to fraud or theft by people who handle the plan’s funds or property. Fiduciary insurance, on the other hand, protects the fiduciaries themselves against losses due to breaches of fiduciary responsibility. It’s important to note that while many plan fiduciaries may have…
…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…
…conditions: Acknowledge fiduciary status. The automatic portability provider must acknowledge fiduciary status in writing upon being engaged by a plan fiduciary and in certain required notices and disclosures. Reasonable compensation standard. The automatic portability provider’s fees are subject to a “reasonable compensation” standard. In this…
…the plan sponsor, unless a different plan administrator has been named. But in addition, ERISA Section 3(21) specifically defines a “plan fiduciary” as someone who has discretionary authority or responsibility in the administration of the plan. So, while it is possible—and often preferable—to delegate many…
…can face penalties and personal liability for plan losses. Attend this course to understand fiduciary responsibilities and liabilities, how to identify the different types of plan fiduciaries and implement fiduciary liability reduction strategies and tactics. *Disclaimer: This recording is not eligible for Continuing Education Credits…
…and service agreements. Plan officials are faced with analyzing and interpreting numerous documents from multiple entities. By creating a governance process, plan officials can help ensure plan operations are consistent and adhere to fiduciary standards. *Disclaimer: This recording is not eligible for Continuing Education Credits….
…procedures are contained in a series of governing plan documents and service agreements. Plan officials are faced with analyzing and interpreting numerous documents from multiple entities. By creating a governance process, plan officials can help ensure plan operations are consistent and adhere to fiduciary standards….
This year we hosted a panel discussion that included recordkeeping partners, advisors and clients to share their successes along with results from our recent study on “Plan Sponsor Attitudes About Retirement Plan Management and Fiduciary Outsourcing”.
Our Approach Flexible & Scalable Solutions for Every Opportunity Pentegra offers an expansive array of qualified retirement plan and fiduciary outsourcing solutions along with comprehensive retirement plan consulting services. Our services can be added to existing plan relationships without disruption. A Collaborative Approach That Places…
3(16) Fiduciary Overlay Solutions An independent fiduciary solution for plan administration Pentegra’s 3(16) Fiduciary Overlay Services raise the oversight of the administration of your plan to an even higher level. You have the assurance that every administrative detail is carefully reviewed by one of America’s…
…much of the work and legal responsibility for managing a retirement plan. Our fiduciary solutions are flexible and scalable for every opportunity, and can be added on to existing plan relationships without disruption. Fiduciary Roles We Perform Named Fiduciary 3(16) Fiduciary Administrator 3(38) Investment Fiduciary…