Key differences in retirement plan fiduciary standards of care
3(21) versus 3(38) co-fiduciary investment advisory services
October 17, 2019 (Updated April 28, 2021)
The term “fiduciary” is certainly not new in the retirement plan industry. The Employee Retirement Income Security Act of 1974 (ERISA) established comprehensive and stringent guidance for fiduciaries handling retirement plans and assets. These responsibilities involve a much deeper obligation than just picking investments. A fiduciary must, at all times, look out for the best interests of the plan participants and their beneficiaries as a primary objective.
Read our white paper to learn more about some key points surrounding the standards of fiduciary care.