Avoiding Fiduciary Pitfalls in Your 401(k) Plan

Fiduciary competency is rightfully on the minds of many fiduciaries due to the tightening regulatory environment and heightened fiduciary awareness. Indeed, fiduciaries must insulate themselves from breaches of duty as well as possible litigation, and they must be ready to provide evidence of fiduciary compliance. In their preparedness, they must be prudent experts, required to apply substantive and procedural prudence – assessing the right information in the right way.

Knowledge of the right information requires a firm understanding of fiduciary roles and responsibilities - an ongoing education – especially when considering evolving regulations. Establishment of a framework for fiduciary compliance with assessing such information in the right way requires proactive measures to identify potential fiduciary exposures.

The Employee Retirement Income Security Act (ERISA) of 1974, which governs 401(k) plans, requires that fiduciaries, such as the committee members or corporate officers who make decisions about the plans, engage in a prudent process to manage and monitor the plan. As a starting point, fiduciaries are required to look at the right information in the right way. Most plan sponsors do not have the time, resources, or expertise to properly monitor and evaluate their company’s 401(k) plan.

The purpose of this webinar is to help fiduciaries of 401(k) plans avoid common fiduciary errors. Learn the common mistakes and how by having a prudent fiduciary process these mistakes can be avoided. Case studies will be used to illustrate how to use a prudent process. By attending this webinar, attendees will have a better understanding of their role as a fiduciary and how to properly apply it to fulfilling their fiduciary duties.

401(k) plan sponsors and fiduciaries

Learn the common 401(k) fiduciary mistakes and how by having a prudent fiduciary process these mistakes can be avoided. Attendees will have a better understanding of their role as a fiduciary and how to properly apply it to fulfilling their fiduciary duties.

http://www.dol.gov/ebsa/fiduciaryeducation.html Click here

		David Hudak Portfolio Evaluations, Inc. View Profile