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

Kevin Mahoney, CIMA

Mahoney, CIMA

As founder of Corporate Advisors Group, Kevin Mahoney joined Raymond James as a Managing Director, Investments and Senior Institutional Consultant in 2015. Kevin brings over 25 years’ experience in the financial services industry. His areas of expertise include fiduciary risk management, ERISA issues, qualified and non-qualified retirement plans, liability driven investing, philanthropic services, employee education and communication. 

Kevin led the launch of SHRM 401(k) Solutions by Raymond James. SHRM 401(k) Solutions by Raymond James offers fiduciary investment advisory services to SHRM’s ecosystem.  We help employees make meaningful progress towards their financial goals and employers meet their fiduciary responsibilities.



LVCC N107-108
Amount of Credit: 
Credit Type: 
Session Type: 
Concurrent Session
Business Acumen
Ethical Practice
Leadership & Navigation
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