After our consultants have helped find your company the right recordkeeper and fund lineup, we’ll plug our cloud-based software into your existing HR software, connecting your payroll with your 401(k).
ERISA 3(38) is in our DNA. We’re an independent advisor to ensure we stay conflict-free as we work with you to find the right recordkeeper and investments. We believe if you hire an investment advisor for your 401(k) plan, that investment advisor should take the liability and fiduciary responsibility for the investment advice given on the plan. Not the employer, and not employees.
With experience managing over $50 billion in retirement income assets and over a decade of work building financial models to build retirement income streams, the ForUsAll advisory team considers offering 3(38) investment fiduciary services just the beginning of how we help.
We saw a need for a different kind of 401(k) advisor, and we knew it would take a different kind of company to build it.
Using our ERISA 3(38) fiduciary expertise, we put your employees’ interests first as we select, monitor, and manage the investment options in your 401(k) plan. And we put in writing all of the liability we assume on your behalf.
We’re focused on driving down fees for more Americans and helping employees put more of each paycheck away for retirement. To achieve this, we research, analyze and select an investment menu that will enable participants to create diversified investment portfolios according to varying risk tolerance, savings time horizon, and other employee financial wellness goals.
The Department of Labor requires defined contribution retirement plan sponsors to offer prudent investment options, and regularly assess investment performance and appropriateness for the plan’s participants.
A prudent investment fiduciary establishes an investment policy statement for the plan stating the underlying principles on how the plan investments will be chosen and reviewed. With investment policy statement in hand, the fiduciary would then analyze investments, paying close attention to:
Any investments that no longer seem prudent should be placed on an investment watch list or removed altogether. This should be done regularly to provide appropriate investment selections and reduce legal liability. Since DOL audits happen, the fiduciary needs to regularly review and carefully document the process and decisions related to the investments in the plan.
Unless your company has hired an advisor who is acting as a 3(38) fiduciary, the role of the fiduciary rests on your company’s shoulders.