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Questions Sponsors Need to Ask When Hiring a 3(38) Fiduciary

Questions Sponsors Need to Ask When Hiring a 3(38) Fiduciary DC plan sponsors should examine a potential investment manager’s approach to governance as well as investing, and they should review past performance results. Reported by Hiring a 3(38) investment manager fiduciary to oversee the investments in a retirement plan lineup is an important step that sponsors should take seriously, experts say. They need to ensure that they are looking at the right criteria to judge and assess a potential 3(38) fiduciary. “I would be pretty confident that most organizations moving from a 3(21) fiduciary to a 3(38) fiduciary are doing so because the adviser has suggested they make the move,” Metzger says. “They may feel comfortable with their current relationship and just make the change, but we think that is imprudent. Even if they are moving upmarket with an organization they have been comfortable with, they still need to have a process to assess various criteria, and all of this sho

GoLocalProv | The Shell Game – Some Perspective on Your Plan s 401(k) Fees

Monday, February 22, 2021   View Larger + If you’ve read an article about 401(k) plans over the last 10 years, more often than not, it has been about how 401(k) fees are excessive, egregious and ruining the life savings of hard-working Americans.  Many of these articles, however, don’t tell the whole story. It’s time to dispel some of the myths. First, let’s clear some things up. When looking at ERISA (Employee Retirement Income Security Act of 1974), which governs 401(k) plans, it clearly states that 401(k) fees shall be REASONABLE for the products and services delivered. Nowhere in ERISA does it say that a plan must have the lowest fees. 

GoLocalProv | The 1% Challenge: Baby Steps Go a Long Way in Your 401(k)

Monday, January 25, 2021   View Larger + Increasing retirement plan participation has always been a priority for employers, plan providers and advisors. The motivations behind the push vary, from improving discrimination testing results or increasing plan assets for more bargaining power to simply bettering overall financial wellness. Yet boosting participation is a constant challenge, especially today in the midst of a global pandemic that’s caused many to lose jobs or take pay cuts. So how can employers drive participation rates? Many folks point to automatic enrollment and automatic deferral increases. These features have definitely had a positive impact on retirement participation and savings rates. But not all companies embrace the concepts. What’s a better way to move the needle? The 1% challenge.GET THE LATEST BREAKING NEWS HERE SIGN UP FOR GOLOCAL FREE DAILY EBLAST

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