Fiduciary Risk Management Services
Are offered through delivery of either 3(21) or 3(38) investment advisory services. In the 3(21)-investment advisor role, CiR performs the investment research and makes recommendations to the fiduciary committee. The fiduciary committee retains the ultimate decision-making authority as to which investment vehicles are to be made available to the Retirement Plan. Whereas, in the 3(38)-investment advisor role, CiR will take responsibility of managing the investment options offered by the plan, monitor these investments, and has investment discretion to make necessary changes as needed. An ERISA bond is required for 3(38) advisory services to qualified plans. CiR will obtain the necessary ERISA bond needed for your Plan(s). In either advisory role, CiR provides ERISA 404(c) compliance testing and monitoring. When done correctly and properly documented, this safe-harbor relief shifts the investment liability from the plan sponsor to the plan’s participants.