Outsourcing Your Fiduciary Responsibility: 
Can You, Should You & Why Would You?

J.D. Carlson & Chad Johansen

 

Plan Design Consultants, Retireholi(k)s

Episode Guests

Topic

Outsourcing Your 401(k) Fiduciary Responsibility:

Can You, Should You & Why Would You?

The podcast series where employers find candid, in-depth interviews with industry experts, new best practices and valuable perspectives on current events. 

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Recap, highlights, and my thoughts

An offer to outsource or delegate your fiduciary responsibility for your workplace retirement plan can be pretty tempting! When you think about all the rules, tasks, processes, approvals and for that matter the time that you could save if you didn’t have to do all that work, it might sound really good!

 

However, before you sign on the dotted line, my conversation with J.D. Carlson and Chad Johansen, TPAs with Plan Design Consultants and half of the infamous Retireholi(ks) could be really helpful to gauge what you are signing up for.  We start with some best practices and things to know before outsourcing various administrative functions to an ERISA 3(16) fiduciary.  As you will hear, if someone flashes their fancy 3(16) fiduciary badge, it can mean a lot of different things. 

 

We also share few thoughts on how some of these concepts either do or don’t relate to hiring an ERISA 3(38) investment fiduciary, another way to delegate. 

We also had a first on the podcast, I assigned homework.  With both of my parents now retired teachers, I guess it was just a matter of time.  It involved magic, a staircase and somehow someway it should be really helpful to employers considering delegating various fiduciary responsibilities to a 3(16) fiduciary.  You definitely will have to listen to get any perspective on what I just said.  To get your very own copy, be sure to subscribe to our email list.  We will shoot it out once Chad is done with it. 

Thanks for listening! 

Sincerely Your Host, 

Rick Unser

 

Guest Bio

We're Plan Design Consultants, Inc. a retirement company that since 1975 has been providing businesses with affordable, quality plans customized to meet the specific needs of our clients.

Over four decades in the business has given PDC the experiences we need to evolve our service model to what it is today.  A smart, easy process centered on the needs of our clients.  A service model designed to be AWESOME!

It is our deep understanding of all areas of retirement plans combined with a constant commitment to customer service that sets us apart.  We share our expertise with our clients to make sure they are comfortable and confident in making decisions around maintaining a successful Employer sponsored plan.

As an independent company, client advocacy is a major strength of our firm.  We partner with Financial Advisors to offer our clients a very healthy choice in vendors.  A strong understanding of fees and services allows PDC to help clients find the perfect fit.

Thousands of retirement plan clients from all over the country have relied on PDC to assist them in offering the right plan to help their employees reach retirement goals. 

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