Mesirow Financial has been appointed by TAG Resources to act as the 3(38) investment manager for the TAG 401(k) Aggregated Solution.
This partnership offers employers of all sizes with “end to end” retirement plan fiduciary oversight. TAG Resources serves as the plan administrator and named fiduciary, as defined under Employee Retirement Income Security Act (ERISA) sections 402(a), 3(16), and 3(21), with Mesirow Financial serving as the 3(38) investment manager.
The 401(k) Aggregated Solution was created to offer comprehensive, outsourced retirement plan administration. Because the program is built on an “aggregated” model, smaller companies gain the advantages of an institutional service model which would otherwise not be available to them. Benefits include ease to the administrator, minimal fiduciary liability, partnerships with well-known providers, regulated compliance, and competitive cost.“We’re excited to expand our partnership with TAG Resources,” says Mesirow Senior Managing Director Michael Annin. “This is right in our wheelhouse; we were a pioneer in this business, and have been providing 3(38) services for a decade. As the 3(38) Investment Manager for the 401(k) Aggregated Solution, we are responsible for the investment selection, monitoring, and ongoing due diligence of the funds in the investment menu in accordance with the Investment Policy Statement for the plan.”