To help increase awareness and understanding about basic fiduciary responsibilities when operating a retirement or health benefit plan, the Department of Labor is presenting the Getting It Right – Know Your Fiduciary Responsibilities webcast series.
The three-part series will help employers and service providers understand how the fiduciary responsibility provisions of the Employee Retirement Income Security Act apply to employer-sponsored retirement and health plans and provide information about how to avoid common problems in managing a plan.
Specifically, the DOL says, getting it right means understanding your plan and your responsibilities; carefully selecting and monitoring service providers; making contributions on time; providing appropriate disclosures to plan participants and filing annual reports to the government on time; and avoiding prohibited transactions.
During Day 1 of the series, on March 22, speakers will discuss basic fiduciary responsibilities when operating an employer-sponsored retirement plan and ERISA’s prohibited transactions provisions and exemptions. Those interested in attending Day 1 can register here. Attendees can register for all sessions or for individual sessions.
During Day 2, on March 24, speakers from the DOL will discuss ERISA’s reporting and disclosure provisions and the department’s voluntary correction programs for employer-sponsored retirement plans. Registration for Day 2 is here.
During Day 3, on March 29, speakers will discuss the basic fiduciary responsibilities when operating an employer-sponsored group health plan, ERISA’s reporting and disclosure provisions, and qualified medical child support orders, or QMCSOs. Registration for Day 3 is here.