Guest Ephesian431 Posted February 7, 2000 Report Share Posted February 7, 2000 I am working with a company that is told that their current provider (bank 1) is a named fiduciary. They are looking at another provider who is a directed trustee (bank2). Bank 1 says that they provide a much greater service than Bank2. The plan sponsor picks fund choices. Is the plan sponsor relieved of fiduciary responsibility with Bank 1 being a named fiduciary? I do not see much difference in the services of bank 1 and bank 2 since the ER is still making the investment choices. Am I wrong? Add. Info.: plan type 401k Participant directed Currently use bank 1 funds and a few outside funds Fund performance is a issue Link to comment Share on other sites More sharing options...
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