Employer Retirement Plan Management - 401(k), 457(b), 401(a)

At Egermier Group, we specialize in comprehensive assistance for retirement plan sponsors, serving as either a 3(21) or 3(38) fiduciary with assistance from LPL Financial. Whether you prefer investment guidance while retaining control or wish to transfer all investment decisions to LPL, our tailored strategies cater to your needs.


Plan sponsors frequently encounter the choice between a 3(21) or 3(38) fiduciary, each offering distinct advantages and considerations. Our comparison chart highlights key differences:

Comparing 3(21) and 3(38) Investment Fiduciaries


3(21) Fiduciary

3(38) Fiduciary

Fiduciary Responsibility

Shared with plan sponsor

Assumes higher level of fiduciary responsibility

Investment Selection

Collaborative process

Solely responsible for investment decisions

Ongoing Monitoring

Actively sends reports on investment performance

Actively manages and adjusts investments

Investment Changes

Recommends changes

Makes changes independently

Investment Mapping Strategies

Provides recommendations

Determines and implements strategies

Investment Policy Statement

Assists in drafting

Provides comprehensive documentation


Advisors with certain level of expertise

Limited to banks, insurance companies, or registered investment advisors (RIAs)


Securities and advisory services offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). This information was developed as a general guide to educate plan sponsors but is not intended as authoritative guidance or tax or legal advice. Each plan has unique requirements, and you should consult your attorney or tax advisor for guidance on your specific situation. In no way does advisor assure that, by using the information provided, plan sponsor will be in compliance with ERISA regulations.