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Which Fiduciary Should Retirement Plan Sponsors Hire: 3(21) or 3(38)?

Which Fiduciary Should Retirement Plan Sponsors Hire: 3(21) or 3(38)?

by Robert C. Lawton | Nov 6, 2020 | Fiduciary Compliance, Plan Sponsor Insights

Do you know the difference between 3(21) vs. 3(38) ERISA fiduciaries – and which is the right one to hire? Outlined below are the differences and my thoughts on which version of fiduciary adviser each type of plan sponsor should hire.

Which Fiduciary Should Retirement Plan Sponsors Hire: 3(21) or 3(38)?

How To Protect Your Employees From 401k Fraud

by Robert C. Lawton | Sep 11, 2020 | Fiduciary Compliance, Plan Sponsor Insights

Outlined in this post are two examples of 401k fraud litigation, followed by steps plan sponsors and employees can take to protect against 401k fraud.

Your 401k Investment Committee’s Most Important Fiduciary Responsibilities

Your 401k Investment Committee’s Most Important Fiduciary Responsibilities

by Robert C. Lawton | Oct 19, 2019 | Fiduciary Compliance, Plan Sponsor Insights

As a 401k investment adviser who is also an Accredited Investment Fiduciary (AIF), I have worked with investment committees for decades. During that time, I have found the following three fiduciary responsibilities to be most important for every 401k investment committee.

Which Fiduciary Should Retirement Plan Sponsors Hire: 3(21) or 3(38)?

8 Questions Employers Have About Fiduciary Responsibility

by Robert C. Lawton | Oct 3, 2019 | Fiduciary Compliance, Plan Sponsor Insights

As an Accredited Investment Fiduciary (AIF), I am a retirement plan fiduciary compliance expert. Following are answers to the eight fiduciary questions I hear most often from employers.

Which Fiduciary Should Retirement Plan Sponsors Hire: 3(21) or 3(38)?

Fiduciary Investment Advisers Add More Than 6% In Value

by Robert C. Lawton | Aug 18, 2018 | Fiduciary Compliance, Investments, Plan Sponsor Insights

The difference in returns is huge for investors working with a fiduciary.

Which Fiduciary Should Retirement Plan Sponsors Hire: 3(21) or 3(38)?

8 Tough Questions To Ask Your 401k Investment Advisor

by Robert C. Lawton | Mar 30, 2018 | Fiduciary Compliance, Investments, Plan Sponsor Insights

Are you working with the right 401k investment adviser? Do you want to find out? Ask your adviser the following eight questions and then see how the answers compare with the generally desired responses outlined below.

Which Fiduciary Should Retirement Plan Sponsors Hire: 3(21) or 3(38)?

401k Best Practices: Decision-Making And Documentation

by Robert C. Lawton | Feb 3, 2018 | Fiduciary Compliance, Plan Sponsor Insights

Are you following a prudent decision-making process in your 401k plan? Do you always put the interests of plan participants first when considering plan issues? After more than 30 years of working on the 401k plans of companies as large as Apple and as small as a new...
Which Fiduciary Should Retirement Plan Sponsors Hire: 3(21) or 3(38)?

401k Best Practices: Fees

by Robert C. Lawton | Jan 20, 2018 | Fiduciary Compliance, Plan Sponsor Insights

Making sure you are paying reasonable 401k fees for your plan is one of your major fiduciary responsibilities as a plan sponsor — especially if you are using plan assets to pay 401k fees. This post shares best practices for managing fees in your 401k plan.

Which Fiduciary Should Retirement Plan Sponsors Hire: 3(21) or 3(38)?

Review Your 401k Providers Regularly — Here’s How

by Robert C. Lawton | Sep 19, 2017 | Fiduciary Compliance, Plan Sponsor Insights

As part of your fiduciary compliance responsibilities as a plan sponsor, you should regularly review the providers that work with your 401k plan.

Which Fiduciary Should Retirement Plan Sponsors Hire: 3(21) or 3(38)?

Your 401k Plan’s IPS Should Include These Items

by Robert C. Lawton | Jun 27, 2017 | Fiduciary Compliance, Investments, Plan Sponsor Insights

Although you aren’t required by law to have one, the investment policy statement is one of the primary documents the Internal Revenue Service (IRS) and Department of Labor (DoL) request when they visit employers for plan audits.

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Robert C. Lawton, AIF, CRPS

Robert C. Lawton, AIF®, CRPS®, is the Founder and President of Lawton Retirement Plan Consultants, LLC (LRPC). Lawton is an award-winning 401k investment adviser and fiduciary compliance specialist with more than 30 years of experience working with retirement plans. LRPC specializes in bringing Fortune 500 solutions to small and medium-sized businesses in Illinois and Wisconsin.

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Recent Posts From The 401k Blog

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Contact Information

Robert C. Lawton, AIF®, CRPS®
Lawton Retirement Plan
Consultants, LLC

Direct: (414) 828-401k (4015)

Email: bob@lawtonrpc.com

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© Lawton Retirement Plan Consultants, LLC

Lawton Retirement Plan Consultants, LLC offers no tax, legal or accounting advice and any advice contained herein is not specific to any individual, entity or retirement plan, but rather general in nature and, therefore, should not be relied upon for specific investment situations. Lawton Retirement Plan Consultants, LLC is a Wisconsin Registered Investment Adviser and accepts clients outside of Wisconsin based upon applicable state registration regulations and the “de minimus” exception.

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