How does a 3(21) fiduciary differ from a 3(38) fiduciary?

A 3(21) fiduciary provides investment advice and recommendations, while a 3(38) fiduciary has discretionary authority to make investment decisions on behalf of the plan.

Why should I consider hiring a 3(21) fiduciary?

Hiring a 3(21) fiduciary can help plan sponsors meet their fiduciary obligations by providing expert investment advice, assisting in plan compliance, and sharing fiduciary responsibility.

3(21) Fiduciary Services

At Washington Crossing Financial Group, we’re dedicated to supporting institutions and businesses with trusted 3(21) fiduciary oversight, ensuring compliance, risk management, and tailored investment strategies that align with your objectives. Our team of experienced 3(21) fiduciary advisors stands ready to assist with everything from strategic capital planning to private investments and more.

What is a 3(21) Fiduciary?

Under Section 3(21) of the Employee Retirement Income Security Act (ERISA), a 3(21) fiduciary is an individual or organization entrusted with specific oversight responsibilities for employee benefit plans. This fiduciary exercises discretionary control or authority regarding the management of the plan or its assets, which includes rendering compensated investment advice and administering the plan. For institutions, these fiduciary services are essential in navigating complex compliance requirements and safeguarding the integrity of the retirement plans they manage.

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Our 3(21) Fiduciary Services

Washington Crossing Financial Group’s 3(21) fiduciary services are designed to ease the burden of regulatory compliance while helping your institution pursue it's financial goals. We specialize in:

Fiduciary Risk Management

Mitigating exposure through clear, defined compliance practices via 12 factor methodology.

Investment Oversight and Guidance

Helping institutions make informed decisions on plan investments.

Retirement Plan Health Check

Independent reporting on your plan's health and value.

Maintaining Fiduciary Vault

Storage of relevant plan-related documents in a centralized location for audit purposes.

Benchmarking

Comparison of services and capabilities of service providers to seek to ensure you are receiving competitive pricing.

Our 3(21) fiduciary consulting services provide a full spectrum of support, from initial strategy development to ongoing guidance, ensuring your institution remains aligned with ERISA regulations.

Why Choose Washington Crossing Financial Group?

Choosing Washington Crossing Financial Group means partnering with a team of professionals who are deeply committed to your success. Our 3(21) fiduciary advisors bring a wealth of expertise and a client-centric approach, delivering services tailored specifically to the needs of each institution we serve. We understand the importance of careful, strategic decision-making in fiduciary management and are here to support you in building a financially independent future for your organization.

Frequently Asked Questions

What is the difference between a 3(21) and a 3(38) fiduciary?

A 3(21) fiduciary provides guidance and advice to help plan sponsors make informed decisions but does not assume full discretion over the plan’s assets. A 3(38) fiduciary, on the other hand, has full discretion and responsibility for selecting, managing, and monitoring investments on behalf of the plan sponsor.

How do 3(21) fiduciary services benefit my institution?

3(21) fiduciary services offer reassurance, knowing that your retirement plan complies with ERISA regulations and is managed responsibly. With the help of a 3(21) fiduciary advisor, your institution can streamline the complexities of retirement planning, reduce risk exposure, and focus more on core business objectives.

Can Washington Crossing Financial Group help with capital planning and private investments?

Absolutely. Our capital planning and private investments solutions are designed to align with your overall financial strategy, helping your institution grow and preserve assets while meeting your fiduciary responsibilities.

Looking For Help With Your Employee Benefit Plans?

With Washington Crossing Financial Group’s 3(21) fiduciary consulting, your institution gains the expertise it needs to make sound financial decisions aimed at long-term success for both your company and your employees. Contact us today to learn more about how we can support your fiduciary needs and brighten financial futures!

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