At WITTROCK FINANCIAL, we recognize that not every plan sponsor wants a one-size-fits-all fiduciary solution. That’s why we specialize in Partial 316 Fiduciary services—offering customized support for your retirement plan’s most critical compliance needs without overstepping the control you want to retain.
Our goal? Help you manage fiduciary responsibility strategically—offloading what you shouldn’t handle and empowering you to retain what you do best.
What Makes a Partial 316 Fiduciary Unique?
Under ERISA, a 3(16) fiduciary is responsible for overseeing plan administration in strict compliance with regulatory standards. A full 316 fiduciary assumes virtually all administrative duties—but that may not be necessary for every employer.
A Partial 316 Fiduciary arrangement allows WITTROCK FINANCIAL to take on key fiduciary responsibilities while leaving others in the hands of your experienced internal team. This approach helps you:
- Reduce unnecessary costs
- Mitigate legal and compliance risks
- Maintain operational control
- Leverage internal talent and systems
It’s fiduciary delegation—optimized for real-world needs.
Which Responsibilities Can Be Delegated?
Our flexible service model allows plan sponsors to determine which tasks they want to retain and which they prefer to delegate to us. Typical assignments include:
| Task Area | WITTROCK FINANCIAL | You (Plan Sponsor) |
|---|---|---|
| Participant Notices & Disclosures | ✅ | ❌ |
| ERISA Compliance Monitoring | ✅ | ❌ |
| Payroll Data Review | ❌ | ✅ |
| Loan and Hardship Processing | ✅ | ❌ |
| Eligibility Tracking | ✅ | ❌ |
| Deferral Timeliness Oversight | ✅ | ❌ |
Each task is clearly documented and contractually defined, ensuring no overlaps, no confusion, and no compliance gaps.
The Strategic Value of Going Partial
Choosing a Partial 316 Fiduciary isn’t just about reducing fees—it’s about building a smarter, more flexible fiduciary framework. Our clients benefit from:
- Selective Risk Transfer: Only delegate what’s most liability-prone.
- Scalable Structure: Expand or modify the arrangement as your plan grows.
- Expertise Where It Counts: Keep your team focused while we manage regulatory minefields.
- Improved Audit Readiness: Clean delegation leads to clear documentation and compliance.
This model is especially useful for mid-sized organizations or those transitioning from bundled provider arrangements.
Avoiding the Pitfalls of Unclear Role Definition
One of the greatest risks in any shared fiduciary structure is a failure to clearly define who is responsible for what. That’s why we emphasize:
- Granular Service Agreements: No gray areas, only black-and-white accountability.
- Defined Escalation Procedures: If an issue arises, everyone knows who handles it—and how.
- Internal Coordination Support: We work alongside your HR or finance team, not in a silo.
Ambiguity leads to liability. Our precision protects you.
Who Should Consider a Partial 316 Fiduciary?
WITTROCK FINANCIAL recommends this approach for:
- Employers with strong internal teams but limited compliance bandwidth
- Companies wanting to phase into fiduciary delegation over time
- Organizations with specific functions (like payroll) they want to retain
- Sponsors seeking better value than traditional bundled TPA solutions
If you’re unsure where your responsibilities end and fiduciary risk begins, we can help clarify—and simplify—your path forward.
Let’s Build a Custom Compliance Model Together
WITTROCK FINANCIAL delivers precision fiduciary services that match your administrative landscape. With a Partial 316 Fiduciary arrangement, you gain a partner who strengthens your plan, reduces your risk, and respects your autonomy.
Let’s collaborate to build the fiduciary oversight model that best suits your business.
Visit https://lifeaudit101401k.com or email us at service@admin316.com to start your customized plan administration journey today.
