On-Demand Fiduciary Training for Retirement Plan Sponsors, August 2023

Each quarter, we host a fiduciary training for retirement plan sponsors. We want to make sure that all of our clients feel comfortable, capable, and supported in their important role as a fiduciary to their retirement plan.

Please feel free to reach our to our team with any questions, and we hope to see you at our next training.

This training covers:

1. My Role as a Fiduciary

2. Basic ERISA Fiduciary Duties

3. Overseeing Investments

4. Overseeing Service Providers

5. Helping Participants

6. Plan Administrator Basics

7. Fiduciary Liability, DOL Audit, Fiduciary Insurance and Bonding

There is also an opportunity for optional training and a Credential for Plan Sponsors.

Additional Background: A fiduciary is a person who owes a duty of care and trust to another and must act primarily for the benefit of the other in a particular activity. Fiduciary status is based on the functions performed for the plan, not a title. Fiduciary duties come into existence when a person or entity is entrusted with property or power on someone else’s behalf. When a company decides to offer a 401(k) plan, the company is offering a great benefit, and you’re also taking control of some of your employees’ investments. That’s why a duty arises to make sure your company’s plan ultimately ends up benefiting those employees.

Our advisor, Jenna Witherbee, hosts these and answers all questions during the live quarterly offering.