Best Practices in Fiduciary Governance

Did you know that the DOL requires employers to educate retirement plan committee members on their roles and responsibilities? Recent litigation and audit activity from the Department of Labor has highlighted the challenges for employers without adequate governance and oversight. Well-run retirement plans nearly universally have the input, support, and decision-making of an entire committee with rules dictated by and accountability to the employer.

This installment of our fiduciary training program covers:

• how to run a committee
• what governance documents can be utilized
• how to document prudent processes and committee activities