Plan Sponsor Council of America’s (PSCA) online fiduciary training program provides a certificate of completion for fiduciaries who complete a series of modules and pass corresponding tests.
Blue Prairie Group says it has provided fiduciary education and training in the past, but has decided to adopt the PSCA program because of the certificate of completion and the essential fiduciary training involved. The program was developed by attorneys with expertise in ERISA, notes Ty Parrish, managing partner at Blue Prairie Group. “We also like that the program has the backing of one of the most well-known and highly regarded retirement industry organizations,” he says.
Fiduciary education is a key component in understanding how to properly discharge one’s fiduciary duties, according to Matt Gnabasik, managing partner at Blue Prairie Group. “It can be challenging to provide meaningful training in a jam-packed committee meeting,” he says. “With the online program, everyone can be assured of consistent, up-to-date content. We will also use this program to onboard new committee members and make it part of our larger client onboarding process.”
Blue Prairie Group is a Chicago-based institutional retirement and investment consulting firm, while Plan Sponsor Council of America is a non-profit trade association supporting employer-sponsored retirement plans.