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Concurrent Session
Outsourced Fiduciary Soup: 3(16), 3(21), 3(38) and Me
Room: TBD
Wednesday 06/26/2019 11:30 AM - 12:30 PM Add to calendar
1.00 SHRM PDCs | Competencies: Business Acumen, Ethical Practice, Leadership & Navigation | Intended Audience: Senior-Level
Workplace Application:
Help employers understand their fiduciary responsibilities under the Employee Retirement Income Security Act (ERISA) and the opportunities and risks of hiring an outsourced fiduciary. 

Employers have a fiduciary obligation to their employees when they offer retirement plans and benefits. The Employee Retirement Income Security Act (ERISA) imposes an extremely high regulatory burden, establishing significant organizational as well as personal fiduciary responsibilities on employers. The retirement plan marketplace offers numerous outsourced fiduciary services and models to reduce and manage that burden. What are 3(16), 3(21), and 3(38) fiduciaries? What are the benefits and risks of hiring an outsourced fiduciary? This session will review fiduciary responsibilities and obligations under ERISA, define the various outsourced models, and review the ongoing obligations employers have even when they use an outsourced fiduciary.

Learning Objectives:

  • Understand the employer’s fiduciary obligations under ERISA.
  • Define who is an ERISA fiduciary.
  • Learn what responsibilities can be outsourced and what cannot be outsourced.
  • Compare the various outsourced fiduciary models available in the marketplace today.
  • Learn to manage the roles and responsibilities of the committee, recordkeeper, administrator, trustee, and advisors.
Kevin Mahoney Photo
Presenter:
Kevin Mahoney, Senior institutional consultant, accredited investment fiduciary analyst®,
The Mahoney Group of Raymond James
Kristen Koluch, CFA Photo
Presenter:
Kristen Koluch, CFA, Investment Portfolio associate,
The Mahoney Group of Raymond James