Plan Sponsors receive a greater level of investment liability protection possible under ERISA when hiring an RIA firm to act as a 3(38) fiduciary under the IRS Code. Engaging a 3(38) Investment Manager transfers the responsibility and risk associated with the selection and monitoring of the plan’s investment options.
When a plan sponsor selects PSI as a 3(38) investment manager, clients can expect us to check all of the required boxes that are required by government agencies such as the IRS and Department of Labor. We have a proven analytical process that influences how we prepare the Investment Policy Statement for your plan to abide and document the process of maintaining a suitable investment selection.
While engaging a 3(38) Fiduciary provides the most liability protection, it doesn’t absolve a plan sponsor completely of all investment fiduciary responsibilities. In the end, it is the plan sponsor’s fiduciary duty to select a suitable and prudent 3(38).
Investment Advisory Services offered through Plan Strategies, Inc., a Registered Investment Adviser. Recordkeeping and Third-Party Administration services may be offered through LT Trust. LT Trust and Plan Strategies are affiliated and under common ownership.