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Plan Sponsors' Biggest Surprises about 3(38)

Once thought to be applicable only for defined benefit pension plans, 3(38) investment management services have become a niche offering for small 401(k) plans, and, lately, demand for those services has grown rapidly among larger 401(k)s and nonprofit 403(b) plans. And it’s easy to see why. Hiring an advisor to take on discretionary responsibility for fund selection and replacement both frees up committee members’ time and reduces fiduciary risk. 

Even so, plan sponsors are often surprised about the real impact that outsourcing fund selection—and the related liability—to a third party has on their day-to-day plan-related activities. 

In this webinar, CAPTRUST Defined Contribution Practice Leader Scott Matheson moderates a 60-minute discussion with CAPTRUST senior investment experts, Jennifer Dunbar and John Leissner.

We cover the basics, including:

• What does a 3(38) investment manager do?
• What are the pros and cons of outsourcing fiduciary risk?
• What should I look for when hiring an advisor for 3(38) services?

And we share the top five surprises plan sponsors experience after hiring a 3(38) investment manager for their defined contribution plans.

Click here to listen to the recording.



Position Paper | Need Help Navigating Investment Responsibilities? Five Questions for Defined Contribution Plan Sponsors

Article | So You Hired an ERISA §3(38) Fiduciary … Now What?

Article | Investment Advisor vs. Investment Manager? - No Contest (Really)



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