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401(k) Fiduciary Responsibilities
97 posts
401(k) fiduciary responsibilities are the legal obligations of those who manage a retirement plan to act solely in the best interest of participants. This includes selecting and monitoring plan investments, ensuring fees are reasonable, following plan documents, and complying with ERISA standards. Fiduciaries must act with care, loyalty, and prudence, avoiding conflicts of interest.
Jumping into the PEP Pool: Principal Readies Plan for 2021
Now that the Department of Labor has adopted a final rule establishing registration requirements for pooled plan providers,…
‘Getting Back to Normal’ Trumps Dealing with 401ks in Minds of Plan Sponsors
With so much on their plate trying to get their business back to “normal” these days, plan sponsors…
Be a Chef, Not a Cook, When Serving Up a Great 401(k) Plan
With the help of the Food Network and Hollywood movies, top chefs have become stars in their own…
Reg BI and DOL Fiduciary Rule: Harmonizing Two Rules that Fulfill Lower Standards
Trust law is instructional to ERISA, and the Uniform Prudent Investment Act offers a definition of prudence. Both…
6 Key COVID-19 Considerations for DC Plan Fiduciaries
ERISA fiduciary COVID-19 process steps include reviewing investments, fraud safeguards, and participant education for compliance.
Employer Actions for 401(k)s Sickened by Coronavirus
Attorney Jordan Schreier recommends some employer action steps in the wake of the coronavirus pandemic, which 401k advisors can help them with.
New Course Focuses on How to Design a Successful DC Plan
A comprehensive new online course, “Designing a Successful Defined Contribution Plan,” has just been launched by Fiduciary Education.
Recordkeeper Merger: PCS Retirement Acquires Aspire Financial Services
A pair of retirement plan services providers announced this week they are combining forces, as Philadelphia-based PCS Retirement,…
Here’s Where Plan Sponsors and Participants are Not on Same Page
Plan sponsors and plan participants agree that debt is a primary challenge to saving for retirement, but have…
3(16) Plan Administration: Make the Path Simple
We hear a lot of conversations among clients and advisors debating the value of a 3(16) plan administrator.…