The Advantage Plan features built-in investment and fiduciary support from Strategies, LLC (Strategies), providing 3(38) services for 0.03%. Along with the same institutional-quality investment management found in large plans, the Advantage Plan makes available best-in-class fund selections that have passed stringent monitoring criteria, the company said.
Under the Advantage Plan 3(38) fiduciary services, Strategies will assume legal liability for the selection, ongoing monitoring and replacement of the plan’s investment options. Strategies will work directly with Lincoln Trust to implement any changes to the plan’s investment lineup, freeing up time for employers to focus solely on plan administration. Employers receive further legal coverage through a detailed investment policy statement, which outlines everything from fund selection criteria to investment objectives to the fiduciary party’s duties and responsibilities.
The Advantage Plan’s average investment expense is 0.43%. More information is available at https://www.lincolntrustco.com/401(k)/Pages/401(k).aspx.