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Creating a Superior ERISA 3(38) Appointment Framework
W. Scott Simon in Morningstar Link to more items from this source
Mar. 5, 2020

"The assertion that an indemnification agreement like that offered by Big Insurance Co. provides more protection than a 3(38) investment manager is nonsensical.... A plan sponsor that creates a retirement plan committee and delegates to it the sole authority to hire and fire 3(38) investment managers has effectively created a legal 'short circuit' that cuts it off from the legal responsibility (and liability) that the sponsor otherwise inherently assumes under ERISA for selecting, monitoring, and replacing a plan's investment options."  MORE >>

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