The piece claimed employers could fully
outsource their plan's hierarchy — and any personal liability for failing to meet its
fiduciary responsibilities — to a MEP 401 (k) provider.
For example, some firms offer what are known as 3 (38) investment
fiduciary services (named for the relevant ERISA section 3 (38)-RRB-, pursuant to which
responsibility for choosing and altering a plan's investments is
outsourced to registered investment advisors.