Fiduciary Sudoku Part 4 – Comprehending 3(38), Explaining the 3(38) Fiduciary

July 24, 2017—In this final blog in our Fiduciary Sudoku series, our goal is to help you, the employer, understand ERISA Section 3(38) well enough so that you can properly evaluate, hire, and monitor retirement plan vendors who offer “3(38)” services. As discussed in our Introduction, “Fiduciary Sudoku – Comprehending ERISA 3(16), 3(21) & 3(38),” vendors who service retirement plans will use the term “3(38)” to describe their service offering. But what is a 3(38) service? Will it make your life easier? Does it alleviate your fiduciary responsibility? Are there levels of 3(38) service?

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