What Are The Fiduciary Benefits of the ABA Retirement Funds Program?

The structure of the ABA Retirement Funds Program (the “Program”) offers plan sponsors a simple way to satisfy burdens of decision making and legal oversight responsibilities and functions. The law firm acts as a fiduciary in its initial selection of the Program. While this decision is subject to periodic review, the other ongoing responsibilities and functions regarding plan investments that typically are imposed on the sponsoring law firm are instead allocated to and performed by the Trustee, Northern Trust Investments, N.A. (“Northern Trust”). Northern Trust is, in turn, selected and monitored by the ABA Retirement Funds, as sponsor of the Program.