Vistamark Investments
Chicago Area312-895-3001 Phoenix Area480-906-3001 info@vistamark.com

Defined benefit and defined contribution plans

Retirement Plan Investment Consulting in the Chicago Area

Fiduciary investment consulting for plan sponsors — investment policy, menu design, manager oversight, asset-liability modeling and the documentation that keeps your committee protected.

Request a complimentary plan review
Vistamark provides ERISA 3(21) and 3(38) fiduciary investment consulting to sponsors of 401(k), 403(b), defined benefit and cash balance plans, partnering with plan committees, HR, finance and actuaries.

Who this is for

Built for

  • Corporate 401(k) and profit-sharing plan committees
  • Nonprofit and healthcare 403(b) plans
  • Corporate and multiemployer defined benefit plans
  • Professional-firm cash balance plans
  • Public and Taft-Hartley plans

What’s included

  • Investment policy statementAn IPS that documents objectives, menu structure, selection and replacement criteria and committee governance.
  • Investment menu design and monitoringCore menu, target-date and managed-account evaluation, share-class and fee analysis, quarterly monitoring and watch-list discipline.
  • 3(21) or 3(38) fiduciary servicesCo-fiduciary advice or discretionary investment management, scoped to how much responsibility your committee wants to delegate.
  • Asset-liability modeling for DB plansLiability-driven investing, glide-path and de-risking strategies, and coordination with your actuary on funded-status goals.
  • Provider benchmarking and searchRecordkeeper, trustee and custodian benchmarking and RFP management.
  • Committee education and documentationFiduciary training, meeting minutes support and the paper trail that matters in an audit or litigation.

How an engagement works

From first call to standing partnership

  1. Plan reviewA complimentary review of your IPS, menu, fees and committee process.
  2. Scope3(21) or 3(38), ongoing or project-based — with fees fully transparent to the committee and to participants.
  3. TransitionCoordination with your recordkeeper, actuary and counsel so nothing falls through the cracks.
  4. Ongoing oversightQuarterly monitoring, annual IPS review and committee education.

Frequently asked

Questions we hear first

Short answers here; longer treatments in our Retirement Plan Sponsors research.

What is the difference between a 3(21) and a 3(38) fiduciary?
A 3(21) investment adviser shares fiduciary responsibility and recommends; the committee decides. A 3(38) investment manager is delegated discretion to select, monitor and replace investments, shifting that liability to the manager. Vistamark serves in either role.
Do you help with 403(b) plans considering collective investment trusts?
Yes. We have written extensively about the legislative path to CITs in 403(b) plans and help sponsors evaluate menu changes as rules evolve.
Can you help our committee reduce litigation risk?
Documented process is the best defense: a current IPS, fee benchmarking, monitoring records and meeting minutes. We build and maintain that record with you.

Free template

OCIO & Investment Consultant RFP Template

An editable Word RFP with an optional ERISA section — 3(21) versus 3(38), menu design, 408(b)(2) fee benchmarking — plus a fee disclosure schedule and scoring matrix your minutes can reference.

Get the template

Related research

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