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Bogle: Apply Fiduciary Duty To Anyone 'Touching Other People's Money'
As far as I could tell my 403b IRA do not imply that my plan sponsor had fiduciary responsibilities. I came across this when investigating delays in contribution processing. Over the last few years our school system decided to distance itself from these growing responsibilities by hiring a "gatekeeprer" or third party administrator. Fees seemed higher and the account resided within the TPA structure and not with the Fund family or Annuity Insurance Company. I was able to opt out, but any new hires only had this choice.
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