12-19-14
ERISA Part One - 3(21) v 3(38) Investment Assistance
What is the difference between a 3(21) and a 3(38) investment fiduciary? This question is being asked with increasing frequency, and the answer provides a host of planning opportunities for both the plan sponsor of a retirement plan and the producer providing investment services to the plan. Despite the popularity of the question, many remain confused about the differences between these important numbers.