’Safe’ Hows: The Fiduciary Safe Harbor for Investment Managers
Los Angeles partner Fred Reish published his latest “Just out of Reish” column in PLANSPONSOR.
The feature discusses the increasing interest by plan sponsors in using 401(k) investment managers as a means of securing a “safe harbour” from fiduciary liability for the investments.
Fred outlines key steps for plan sponsors to follow in order to prudently select and monitor the manager, for example whether the manager meets ERISA §3(38) requirements, whether the compensation is reasonable, and whether the candidate maintains adequate fiduciary liability insurance.
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