Loan & Distribution Specialist AimPoint Pension
|
Compass
|
Regional Vice President of Sales The Retirement Plan Company
|
AimPoint Pension
|
Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
|
Bates & Company, Inc.
|
“BenefitsLink continues to be the most valuable resource we have at the firm.”
-- An attorney subscriber
Three Ways 401(k) Plan Sponsors Can Reduce Fiduciary Liability
Fiduciary News; free registration required Nov. 11, 2014
"[W]hile the company sponsoring the plan ultimate remains responsible for the date provided to the 3(16) Fiduciary, it is the very tasks involved in this service that contain the greatest fiduciary liability.... Section 3(21) of ERISA addresses the provision of investment advice.... Given the assumed expertise of the 3(21) Fiduciary, may offer certain limited protections to the plan sponsor with regard to fiduciary liability.... [Only] the 3(38) Fiduciary automatically removes any ongoing fiduciary liability (albeit limited to investment selection) on the part of the plan sponsor. Bear in mind, though, the plan sponsor will always retain the fiduciary liability associated with selecting the 3(38) Fiduciary."
|
Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the linked news item's title). |
An important word about authorship: BenefitsLink® created this link to the news item, but we are not the news item's author (unless expressly shown above). |