Section 3(21) vs. Section 3(38) Fiduciaries

By |2018-04-01T14:41:48-07:00March 31st, 2018|Insights|

Both Section 3(21) and Section 3(38) advisors accept fiduciary responsibility and accept the duties of serving solely in the interest of plan participants and meeting the dictates of the “prudent person” standard of care outlined in ERISA section 404(a). A fiduciary under ERISA Section 3(21) is anyone who exercises any authority or control over [...]