Consultant Releases Fiduciary Responsibilities Refresher

A new white paper helps plan fiduciaries understand their responsibilities and adhere to the standards of conduct that apply to them.

“Fiduciary Roles and Responsibilities Under ERISA Defined Contribution Retirement Plans,” from Strategic Benefit Services, presents an overview of Employee Retirement Income Security Act (ERISA) and Department of Labor (DOL) requirements for plan fiduciaries and others with direct responsibility for retirement plans.

Topics covered include fiduciary standards of care, development of an investment policy statement (IPS), how to select and monitor plan investments, and service provider due diligence and fee review. 

“It is important for plan fiduciaries to be aware of what their responsibilities are regarding plan oversight—not only because of their obligations to plan participants but because of the personal liability they take on by virtue of being a fiduciary,” says Carol Idone, a vice president of business development for Strategic Benefit Services.

The white paper may be downloaded from here.