ERISA 3(16) Fiduciary Services

No matter where or how hard you look for information about your role in sponsoring a 401(k), qualified retirement plan, you can’t avoid the big “F” word, Fiduciary. The difficulty for most plan sponsors is finding the time to keep up with the changing rules and regulations, in addition to the logjam created by the day-to-day intricacies of plan operation. While a high quality third-party administrator adds expertise and provides oversight, the legal and discretionary decisions are made by the plan sponsor, who takes the fiduciary responsibility.

MMG can act as a 3(16) co-fiduciary. By doing so, we are able to relieve many of the common, time-consuming tasks from the plan sponsor’s plate, as well as share in the fiduciary responsibility. These tasks may include:

  • Oversight and approval of loans, hardships and distributions
  • Review, signing and filing of the government Form 5500, Form 5500-SF and Form 8955-SSA
  • Mailing of required participant notices
  • Oversight and approval of required non-discrimination testing
  • Obtaining Fidelity Bond Coverage
  • Reconciling plan contributions

Share your fiduciary responsibilities with MMG.

Contact MMG today: or 215-222-5000 to get a no-fee, no obligation quote.