Independent Third-Party ERISA 3(21) and 3(38) Fiduciary Services

Help Plan Sponsors Meet Their Investment Fiduciary Obligations
Retirement plan sponsors must meet a number of fiduciary obligations that include selecting and monitoring plan investments. For sponsors who want fiduciary support, Wilshire offers ERISA 3(21) and 3(38) fiduciary services.
How Wilshire May Serve as a Co-Fiduciary With Plan Sponsors:
"Help me do it"
"Do it for me"
Wilshire screens, monitors and recommends changes as a co-fiduciary, while plan sponsor selects investments.
Wilshire screens, selects and monitors funds and makes changes as a co-fiduciary.
Wilshire's Role
ERISA 3(21) Non-Discretionary Investment Advisor
ERISA 3(38) Discretionary Investment Manager
Quarterly Report

Plan sponsor uses Fund Menu (below)

PlanPremier

R2 | R2E | R3 | R4 | R5 | R5E | R6

RecordkeeperDirect

R2 | R3 | R4 | R5E | R6

RecordkeeperDirect — American Funds Core Lineup

Lineup includes at least 60% American Funds required by recordkeeper.

R3 | R4 | R5E | R6

RecordkeeperDirect — Open Architecture Lineup

Lineup is exempt from 60% American Funds required by recordkeeper for plans that meet the default requirements.*

R3 | R4 | R5E | R6

— OR —

Plan sponsor uses Select List to create portfolios (below)

PlanPremier

R2 | R2E | R3 | R4 | R5 | R5E | R6

RecordkeeperDirect

R2 | R3 | R4 | R5E | R6

RecordkeeperDirect — Open Architecture Lineup

Plan lineup can be exempt from 60% American Funds required by recordkeeper for plans that meet the default requirements*

R3 | R4 | R5E | R6

Wilshire Implements Fund Menu (below)

PlanPremier — American Funds Core Lineup

Lineup includes at least 60% American Funds required by recordkeeper.

R2 | R2E | R3 | R4 | R5 | R5E | R6

PlanPremier — Open Architecture Lineup

Lineup is exempt from 60% American Funds required by recordkeeper for plans that meet certain requirements.*

R2 | R2E | R3 | R4 | R5 | R5E | R6

RecordkeeperDirect

R2 | R3 | R4 | R5E | R6

RecordkeeperDirect — American Funds Core Lineup

Lineup includes at least 60% American Funds required by recordkeeper.

R3 | R4 | R5E | R6

RecordkeeperDirect — Open Architecture Lineup

Lineup is exempt from 60% American Funds required by recordkeeper for plans that meet the default requirements.*

R3 | R4 | R5E | R6

* Default Requirements:

Plans must have the American Funds Target Date Retirement Series as the QDIA (qualified default investment alternative); takeover plans must have completed a target date fund mapping conversion or re-enrollment.

Service Agreements
3(21) Service Agreement (PDF) (including fee schedule)
3(38) Service Agreement (PDF) (including fee schedule)
Investment Policy Statements
More About Wilshire