October 22, 2012
--- T. Rowe
Price launched FiduciarySource, an online program designed to help plan
sponsors better understand and fulfill their fiduciary obligations. ---
The six training modules include:
Big Picture: What fiduciaries must do, not do and what happens when they
make a mistake;
Practical Reality of Being a Fiduciary: How fiduciaries delegate authority
Providers: What they do, hiring them and reviewing their performance;
the Money: The use of investment policy statements, investment committees
and investment managers;
Operations: What must be done in plan operations and who is responsible;
Financial Information to Workers: Whether sponsors are giving participants
education, advice, or neither.
The online tool offers training that accommodates plan
sponsors’ learning preferences and time constraints, said Michael Skinner,
head of client experience and research for Retirement Plan Services
(RPS). The program tracks progress and offers a certificate of completion
at the end of training, which could be important in the event of a plan audit,
FiduciarySource includes a series of seven training videos,
corresponding print guides and an online quiz to test sponsor knowledge.
Sponsors can use a computer or tablet device.
The program was developed by T. Rowe Price in collaboration
with Bradford P. Campbell, former Assistant Secretary of Labor for Employee
Benefits with the U.S. Department of Labor’s Employee Benefits Security
Administration. Campbell also narrates and is featured in many of the training
For more information, visit www.troweprice.com.