LIMRA and Transamerica Retirement Solutions assembled information pertaining to fiduciaries under the Employee Retirement Income Security Act (ERISA). The paper starts by defining who is a DC plan fiduciary.
It offers questions plan sponsors must consider when implementing any plan actions, and examines each of the fiduciary standards of conduct as they relate to plan-level investment decisions. The paper discusses 3(38) and 3(21) investment fiduciary management, and when and why they should be utilized.
The white paper, “Managing Investment Responsibilities: Investment Decisions for Plan Fiduciaries,” is here.