ERISA Fiduciaries: Making Sense of All The Numbers


In the Golden Age of Boxing, there was one world champion. Whether it was Joe Louis or Rocky Marciano as the heavyweight kingpin or Sugar Ray Robinson as middleweight crown holder, you knew who was champion. There was one sanctioning organization called the National Boxing Association (NBA), so there was one champion for each weight class. The NBA became the World Boxing Association (WBA). Then the World Boxing Council (WBC) was formed with its own champions. Years later, the International Boxing Federation (IBF) and the World Boxing Organization (WBO) had their own champions as well. Apparently there is also the IBU, IBA, and WBF. It’s starting to become an alphabet soup of boxing champions. I’m sure plan sponsors feel the same way of plan sponsors offering their services as independent ERISA fiduciaries. Most plan sponsors don’t know the difference between an ERISA §3(16), ERISA §3(21), and ERISA §3(38) fiduciary, it becomes a number soup of its own, So this article is going to break down what a fiduciary is and what these fiduciary number actually means.

LOADING PDF: If there are any problems, click here to download the file.

Written by:

Published In:


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Ary Rosenbaum, The Rosenbaum Law Firm P.C. | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.