Fiduciary Comparison Tool
Unified Trust, serving as Discretionary Trustee, provides plans with the highest level of fiduciary oversight under ERISA.
Please choose which role(s) to compare:
Your Comparison of Fiduciary Plan Services
| Unified Trust | ERISA 3(38) Investment Manager | ERISA 3(21) Investment Advisor | Direct Trustee | Fiduciary Warranty | Due Diligence Support | |
| Named Plan Fiduciary Under ERISA 402(a)? |
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| Has “Exclusive Authority to Manage and Control the Assets of the Plan” Under ERISA 403(a)? |
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| Acknowledges Fiduciary Status in Writing |
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Sometimes
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| Broad (Allocated) or Narrow (Delegated) Fiduciary Responsibility? |
Broad
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Narrow
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Narrow
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Narrow
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N/A
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N/A
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| Provides Participant Direction Choices Under ERISA 404(c) |
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| Responsible for ERISA 404(c) Compliance |
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| 404(c) and QDIA Notice Preparation |
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| Has Full Responsibility for Selecting Plan Investments |
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Sometimes
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| Has Full Responsibility for Monitoring Plan Investments |
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Sometimes
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| Has Full Responsibility for Replacing Plan Investments |
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Sometimes
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| Able to Provide Personalized Goal Management Solution |
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Sometimes
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| Responsible for ERISA 404(a) “Prudent Man Rule” |
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| Responsible for Prudent Management of Participant Model Portfolios |
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Sometimes
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| Oversight Structure Allows Plan to be Eligible for Limited Scope Audit |
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| Oversight of Missing or Late Contributions |
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| Maintains Plan Within Jurisdiction of U.S. Courts |
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| Duty to Avoid Prohibited Transactions |
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| Duty to Monitor Co-Fiduciary Activity |
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| ACA, EACA, and QACA Participant Notices Preparation |
Sometimes
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| CEFEX® Certified for Fiduciary Best Practices |
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Sometimes
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Sometimes
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Sometimes
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| Monitor Plan Distribution Activity |
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| Duty to Protect Participant Accounts From Unauthorized Access |
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Unified Trust Company, N.A. serving as Discretionary Trustee provides plans with the highest level of fiduciary oversight under ERISA.
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