Are You a Fiduciary?

Are You a Fiduciary?

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Administering a retirement plan and managing its assets requires certain actions and involves specific fiduciary responsibilities. If you make decisions that impact your organization’s retirement plan, you’re likely considered a fiduciary under the Employee Retirement Income Security Act of 1974 (ERISA). With the current scrutiny over retirement plan litigation, it is imperative that plan fiduciaries understand their responsibilities and adhere to ERISA’s standards. Learn more about who is considered a fiduciary, their fiduciary responsibilities, and how to fulfill their responsibilities to their participants.

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Understanding the DOL MEP rule

Understanding the DOL’s New Rule for Multiple Employer Plans

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For decades, small businesses and their employees have been disadvantaged by the limited availability of high-quality, low-cost retirement plans. But this is all set to change by the end of third quarter this year, when a new rule from the U.S. Department of Labor (DOL) takes effect, seeking to expand the access of Multiple Employer Plans (MEPs). Learn more about the DOL MEP rule and some of the advantages businesses and their employees can realize from participating in a MEP.

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Breaking Down 3(21) vs. 3(38) Fiduciary

Breaking Down 3(21) vs. 3(38) Fiduciary

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While most are familiar with the term, many plan sponsors are uncertain of what it actually means to be a fiduciary. In fact, a recent JP Morgan survey stated 43% of company fiduciaries do not identify themselves as fiduciaries. This reflects the fact that many plan sponsors are uncertain about what a fiduciary exactly is.

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How to Establish a Strong Investment-Focused Plan Committee

How to Establish a Strong Investment-Focused Plan Committee

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As a retirement plan sponsor, one of the biggest steps toward ensuring regulatory compliance includes establishing a committee to manage the plan. Meanwhile, setting forth clear objectives and direction for the composition and function of your retirement plan committee can be the key to its success. Learn more about some standard objectives and responsibilities for your fledgling committee, with a specific view towards its investment responsibilities, as well as some structuring tips you’ll want to keep in mind when just getting started.

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Why Plan Sponsors Should Adopt an Investment Policy Statement

Why Plan Sponsors Should Adopt an Investment Policy Statement

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Although ERISA doesn’t specifically require retirement plan sponsors to create and adhere to a written Investment Policy Statement, having an outlined statement in place can allow sponsors to efficiently run a plan consistent with ERISA requirements while fulfilling their fiduciary duties. An Investment Policy Statement will be unique for each organization based on the characteristics of the plan, but we have compiled a list of considerations for developing a well-crafted document.

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