Outsourced Fiduciary Soup: 3(16), 3(21), 3(38) and Me

2019 Annual Conference & Exposition
Help employers understand their fiduciary responsibilities under the Employee Retirement Income Security Act (ERISA) and the opportunities and risks of hiring an outsourced fiduciary.

Employers have a fiduciary obligation to their employees when they offer retirement plans and benefits. The Employee Retirement Income Security Act (ERISA) imposes an extremely high regulatory burden, establishing significant organizational as well as personal fiduciary responsibilities on employers. The retirement plan marketplace offers numerous outsourced fiduciary services and models to reduce and manage that burden. What are 3(16), 3(21), and 3(38) fiduciaries? What are the benefits and risks of hiring an outsourced fiduciary? This session will review fiduciary responsibilities and obligations under ERISA, define the various outsourced models, and review the ongoing obligations employers have even when they use an outsourced fiduciary.

Learning Objectives:

  • Understand the employer’s fiduciary obligations under ERISA.
  • Define who is an ERISA fiduciary.
  • Learn what responsibilities can be outsourced and what cannot be outsourced.
  • Compare the various outsourced fiduciary models available in the marketplace today.
  • Learn to manage the roles and responsibilities of the committee, recordkeeper, administrator, trustee, and advisors.
Date(s) & Time(s): 
Wednesday, June 26, 2019 - 11:30am to 12:30pm
Presenter: 

Kevin Mahoney

Kevin
Mahoney

Kevin Mahoney CIMA®, Senior Institutional Consultant, Accredited Investment Fiduciary Analyst®, with The Mahoney Group of Raymond James, has more than 25 years of experience in the retirement plan services industry . His areas of expertise include 401(k) services, qualified and non-qualified retirement plans, liability driven investing, and business services.  Kevin holds a B.A. in History from Fordham University is a Wealth Management Advisor (WMA) and has achieved the Certified Investment Management Analyst (CIMA) designation, as recognized by the Investment Management Consultants Association (IMCA). Kevin has also received the Accredited Investment Fiduciary Analyst® Designation through the Center for Fiduciary Studies, which teaches fiduciary standards of care and investment best practices designed for trustees and investment professionals. 

Kevin has been recognized as an industry leader by PlanAdviser Magazine, The American Society of Pension Professionals & Actuaries and the 401(k)Wire.  He is a frequent speaker at industry conferences.  Kevin is a Member of the Society for Human Resource Management and was a member of their Benefits and Compensation Expertise Panel. Kevin is Chairman of the Board of Advisors for Fordham University’s School of Professional and Continuing Studies and is a member of the Investment Management Consultants Association.

Location: 
LVCC N107-108
Amount of Credit: 
1.00
Credit Type: 
SHRM PDCs
Session Type: 
Concurrent Session
Competency: 
Business Acumen
Ethical Practice
Leadership & Navigation
Intended Audience: 
Senior-Level
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