ERISA Fiduciary Services

Workplace Retirement Plan

Investment Fiduciary

FPLCM can act as your Plan’s ERISA 3(38) or ERISA 3(21) Investment Fiduciary. When operating under ERISA 3(38) Investment Manager Fiduciary capacity, we will have discretionary authority over the investment selection for the Plan.

Investment Policy Statement
Create and update Investment Policy Statement as needed.

Investment Menu
Design and determine suitability of the investment selection.

Asset Allocation Models
Design and maintain asset allocation models.

Participant Services
Perform risk evaluations and provide investment advice to plan participants.

In addition to the core fiduciary services, we provide additional ancillary services.

Plan Design Consulting

Annual Plan Review Meeting

Provide Quarterly Monitoring Report

Provide Fee Benchmarking Report

Assist Plan Fiduciaries with Service Providers

Access to Financial Wellness Tools

ERISA 3(38) vs
ERISA 3(21)

Third-Party Administrator (TPA)

Our platform’s main Third-Party Administrator relationship is with Farmer & Betts.  They currently support over 2,500 qualified retirement plans throughout the nation.  However, Plan Sponsors have the option of selecting their own TPA. Below are few highlights of services Farmer & Betts will provide:

  • Create, amend, and restate plan documents.
  • Determine participant eligibility.
  • Perform non-discrimination testing.
  • Determine most efficient Profit Sharing method.
  • Prepare and assist file Form 5500.

Keeping in line with our pricing policy, Farmer & Betts also uses a flat-fee pricing model.


Recordkeeping services will be provided Vanguard Retirement Plan Access™ (VRPA)VRPA is one of the industry leaders in Recordkeeping for qualified retirement plans.  Unlike most other Recordkeeper platforms, VRPA uses a flat-fee pricing model without any assets under management fees and generally a more cost-effective solution for large retirement plans. Below are few highlights of services VRPA will provide:

  • Implement and automate the investment management program.
  • Implement and automate the participant contribution process.
  • Assist with payroll integration.
  • Perform daily valuations of participant accounts.
  • Deliver participant statements.

For start-up retirement plans, we offer Recordkeeping services provided by Charles Schwab.  They charge a low assets under management fee with a nominal per participant fee.  If a Plan Sponsor does not expect the plan assets to grow at a rapid rate, we recommend Schwab’s platform.


For plans that use Vanguard’s Recordkeeping services, custodian services will be provided by Ascensusone of the largest custodians in the nation with over $748 billion in assets and winner of multiple Best-in-Class awards over the last several years.  They do not charge a separate fee, and services are provided as part of the fee paid to Vanguard.

Charles Schwab will be the Custodian for plans that use Schwab’s Recordkeeping services.  Custodian fee is included in their Recordkeeping fee.