Why Fiduciary Wise Doesn’t Compete with TPAs or Advisors — We Strengthen Them
By Fiduciary Wise An Independent ERISA 402(a) Named Fiduciary — Not a Competitor When Fiduciary Wise joins a retirement plan, some service providers assume we are there to replace someone. We’re not. We do not serve as a TPA. We do not provide recordkeeping. We do not custody assets. We do not act as an […]
3(38) vs. 3(21): The Investment Fiduciary Reality Check Every Plan Sponsor Needs
By Fiduciary Wise Based on The Wise Fiduciary Podcast, Season 4, Episode 4Featuring Marta Hurst and Isaac Wood Introduction: Why This Debate Matters More Than Ever For years, the distinction between ERISA 3(21) and ERISA 3(38) investment fiduciaries felt like a technical nuance—important, but not urgent. That has changed. In today’s retirement plan environment, fiduciary decisions are no longer evaluated […]
Reasonable Doesn’t Mean Cheap: What ERISA Actually Requires of Your Plan Fees
Understanding the True Meaning of “Reasonable” Under ERISA When it comes to 401(k) plan management, “reasonable fees” is one of the most misunderstood phrases in the ERISA world. Too often, plan sponsors assume that keeping costs as low as possible fulfills their fiduciary duty. But ERISA doesn’t say lowest. It says reasonable—and that distinction matters. Reasonableness is […]
Private Equity in Retirement Plans: A Fiduciary’s Perspective
By Don Jones, Fiduciary Wise Introduction A new executive order, “Democratizing Access to Alternative Assets for 401(k) Investors,” has sparked renewed interest in the idea of allowing private equity in participant-directed retirement plans. For many plan sponsors, this raises an important question: should private equity play a role in 401(k) and 403(b) plans? At Fiduciary Wise, our role […]
Meeting the Highest Standards Under ERISA
By Fiduciary Wise Retirement plan sponsors face increasing scrutiny under the Employee Retirement Income Security Act (ERISA). The Department of Labor (DOL), evolving case law, and recent court decisions have raised the bar for fiduciary conduct and documentation. For many sponsors, the challenge isn’t simply meeting the baseline requirements — it’s maintaining the highest standards of fiduciary […]
Supreme Court Ruling Raises Stakes for Retirement Plan Fiduciaries
Fiduciary Wise Helps Retirement Plan Sponsors Navigate Post-Ruling Compliance Challenges In the wake of the U.S. Supreme Court’s recent decision in Cunningham v. Cornell University, which clarified and reinforced legal responsibilities under the Employee Retirement Income Security Act (ERISA), Fiduciary Wise, a national leader in outsourced fiduciary services, is stepping forward to guide retirement plan sponsors through […]
Welcoming Isaac Wood, AIF, AIFA®: Elevating 401k Optimization and ERISA Compliance
We are excited to announce the newest addition to our Fiduciary Wise team: Isaac Wood, AIF, AIFA®. With 13 years of experience in the financial industry, including 7 years dedicated specifically to ERISA plans, Isaac brings a wealth of knowledge and a deep passion for 401k optimization to his new role as our ERISA 402(a) […]
Why Every Retirement Plan Needs an Independent Professional Named Fiduciary
By Trevor Merrill, AIFA, BCF™ The Complexity of Managing Retirement Plans As a business owner, your responsibilities are diverse and demanding. From managing employees to staying ahead of industry trends, your time is stretched thin. Amidst these pressures, the importance of an independent professional named fiduciary in your retirement plan often gets overlooked. However, this […]
401(k) limit increases to $22,500 for 2023, IRA limit rises to $6,500
The following content is from IR-2022-188, October 21, 2022 WASHINGTON — The Internal Revenue Service announced today that the amount individuals can contribute to their 401(k) plans in 2023 has increased to $22,500, up from $20,500 for 2022. The IRS today also issued technical guidance regarding all of the cost-of-living adjustments affecting dollar limitations for […]
Financial Factors in the Selection of Plan Investments
Now that the DOL Final Rule called “FINANCIAL FACTORS IN THE SELECTION OF PLAN INVESTMENTS,” is a law (with a few exceptions for ESG type funds”, what can we expect the DOL will do from here in their investigations and how does that effect smaller plans? (less than $500 million) In our latest episode, the ‘Two Nerds’ […]