Transamerica Retirement Solutions released a white paper looking at plan sponsors’ critical responsibilities in the areas of investment choice selection and monitoring and examines the resources available to help them manage these duties.
“Managing Investment Responsibilities: Investment Decisions for Plan Fiduciaries," which was produced in conjunction with LIMRA, also explores the fiduciary standards of conduct, as defined by the Employee Retirement Income Security Act (ERISA), which ensure that they act on behalf of participants and beneficiaries, as they relate to plan-level investment decisions and provides useful detail and points of consideration to help guide plan sponsors.
“One of an employer’s top concerns is managing fiduciary responsibilities. Transamerica’s white paper offers plan sponsors insight regarding plan-level investment decision-making,” says Stig Nybo, president of pension sales and distribution for Transamerica Retirement Solutions. “Transamerica strives to provide plan sponsors with useful information to help them effectively manage their company’s retirement plan.”
The white paper also defines and compares 3(21) investment fiduciary services and 3(38) investment fiduciary management, and offers three factors – cost, control, and confidence – on which to base a decision to utilize one of these resources or act independently in selecting and monitoring investment options.
Transamerica Retirement Solutions provides customized retirement plan solutions for small to large organizations.