Meeder Launches Fiduciary Service

Meeder Investment Management announced the launch of its 3(38) fiduciary service.

The Ohio-based money management firm developed the service in response to strong demand from advisers and retirement plan sponsors seeking expert advice on selecting and monitoring the investment options available to plan participants. Under Section 3(38) of the Employee Retirement Income Security Act (ERISA), plan sponsors can delegate the management of plan investment options to a qualified investment manager.

“We are extremely excited to offer this service to our clients as the need has become more prevalent in light of recent disclosure and regulatory changes,” said Ron Sala, senior vice president of Sales for Meeder. “This valuable service alleviates pressure and liability for the plan sponsor allowing them to focus on key responsibilities such as plan administration and participant education.”

The new service is available on a variety of retirement platforms based on plan size. Among other services, the new fiduciary service offers the development of an investment policy statement and initial core lineup of funds and portfolios, ongoing monitoring and reporting, and active management of diversified model portfolios.

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