Tag: Fiduciary Roles

401(k) plans can be complex due to the number of service providers required to make a plan run. This typically includes your Recordkeeper, TPA, Custodian, Advisor, Broker, Auditor, and Plan Fiduciaries.  After outlining the roles of these service providers in a previous article, we had a few clients request a breakdown more specifically on plan […]

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In the 401(k) marketplace, you can occasionally find separate companies that will sign onto your 401(k) plan in the role of 3(38) Investment manager, and even 3(16) Plan Administrator. However, when sponsors engage these separate companies, their combined plan services often become fragmented and expensive. BenefitGuard is the only provider in the market that appoints […]

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The BenefitGuard solution for 401(k) plans is unique in that BenefitGuard signs and acts in the primary fiduciary roles so that the employer does not have to. BenefitGuard acts as the 3(16) Plan Administrator and the 3(21) Named Fiduciary. But there is another important fiduciary role that BenefitGuard fills and that is the 3(38) Investment […]

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One of the things that makes a BenefitGuard 401(k) plan different than most is that BenefitGuard signs and acts as your 3(16) Plan Administrator. As we explain this to prospective clients, especially those implementing a plan for the first time, they often ask questions about the role and responsibilities of a 3(16), so we thought […]

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