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Trustee Responsibility

Depending on your needs, HTLF Retirement Plan Services can serve as a discretionary or directed trustee, as well as an ERISA §3(38) investment fiduciary overall or a portion of your investment menu. We also offer ERISA §3(16) services for certain administrative functions, covering key distribution transactions and 5500 filings.

Your plan’s objectives determine the scope of the relationship. Due to our willingness to take on this responsibility, our clients can focus on running their organization without the burden and liability of choosing and monitoring the plan's investment menu. A plan sponsor always maintains the responsibility of assessing the overall plan provider relationship, but delegating the investment liability is a major relief for our clients.

Take a moment to consider:

  • Who is listed as the trustee of the retirement plan? Is it you?
  • Do you fully understand the liability you hold in being named plan trustee?
  • Is your current plan provider willing to take on, in writing, the responsibilities of an ERISA §3(38) investment fiduciary?
  • Why wouldn't a provider be willing to take responsibility for his or her investment recommendations?
  • Does your provider offer trustee services, yet include multiple proprietary funds?
  • What are you paying for those proprietary funds?

 


Plan Options

Elite

Our Elite retirement plan solution greatly reduces your investment duties and liabilities. We offer unbiased discretionary trustee and fiduciary services related to your investments, and we act as a discretionary trustee and serve as an ERISA §3(38) investment fiduciary. We are also responsible for selecting, monitoring, and deselecting core investments.

Select

Our Select retirement plan solution allows you to retain the investment duties while we serve as a directed trustee. You’ll have access to select from more than 25,000 mutual funds, ETFs, CITs, and external money managers.

Heartland Retirement Plan Services are offered through Dubuque Bank and Trust Company. Heartland Retirement Plan Services does not provide accounting, legal or tax advice. Products offered through Heartland Retirement Plan Services are not FDIC Insured, are not bank guaranteed and may lose value.