Interlake Capital Management, LLC, is a fully independent advisory firm that helps retirement plan sponsors and participants in three primary ways:
Interlake specializes in 3(38) fiduciary services. In fact, it’s the only capacity in which our firm serves the retirement plan marketplace. We partner with industry-leading advisors, recordkeepers, administrators, and custodians to deliver quality, value, and simplicity to sponsors and participants alike. Our goal isn’t just improved compliance; it’s comprehensive excellence for all clients.
ERISA and the Changing Fiduciary Environment
What does ERISA tell us about designing and operating 401(k) plans? First, fiduciaries must act prudently in pursuit of participants’ and beneficiaries’ long-term interests. Second, fiduciaries must have the knowledge necessary to make informed decisions. Third, fiduciaries must document their decisions and their decision-making processes. In essence, fiduciaries can’t act prudently—as the law requires them to do—without documented expertise in plan design, expenses, and investment selection.
How can fiduciaries manage personal and corporate risk in the current ERISA environment? Here we see three possibilities: (1) stick with the status quo and hope for the best; (2) make changes while retaining full fiduciary responsibility; or (3) delegate certain functions to independent fiduciary experts.
Legally, the process of fiduciary delegation is simple and well-established. It’s also the easiest (and in many cases the cheapest!) way to reduce the practical and legal burdens of plan sponsorship, improve compliance, and deliver better outcomes for participants.
Benefits of Fiduciary Delegation
Each plan is unique, but prudent fiduciary delegation typically leaves employers with better, more compliant plans.
For Plan Participants…
For Plan Sponsors…
Do you have questions about fiduciary delegation in general or the Interlake Fiduciary Solution in particular?
Would you like to assess your current plan relative to best practices? If so, we invite you to connect with us at 831-574-3248 or email@example.com.
We can assess your plan’s strengths, describe areas of potential improvement, and help you take your retirement plan to a new level of fiduciary excellence.