ERISA 3(38) 

We do it: ERISA 3(38) Services
As your ERISA 3(38) Investment Manager, we assume full discretion for selecting, monitoring and (if necessary) replacing the investment options for your retirement plan. In this capacity, we are the named fiduciary.

What is an ERISA Section 3(38) Fiduciary?
  • Is the investment manager for the plan. 
  • So, by definition they are also a fiduciary because they take discretion, authority and control of the plan’s assets

Duties of an ERISA Section 3(38) Fiduciary
  • To make investment decisions for the plan  
  • Assumes legal responsibility and liability for the decisions it makes
  • To select investment options and managers
  • To monitor investment options and managers
  • To replace investment options and managers

Everything you ever wanted to know about 3(21) and 3(38) fiduciaries
April 6, 2010 by fi360's Bennett Aikin