The Bottom Line About Your Fiduciary Liability
An Employer’s decision to sponsor a retirement plan typically brings with it certain fiduciary responsibilities under the Employee Retirement Income Security Act of 1974 (ERISA). These responsibilities include:
These Responsibilities Include:
Commonly Asked Questions:
Yes, you can refer to our Program Annual Disclosure Document in the section entitled “ERISA and Fiduciary Obligations.”
We don’t believe it would have any value other than sales promotion. The Program offers the following meaningful documentation to serve as fiduciary authenticity: Program Annual Disclosure Document, Program Investment Policy, Program Report – outlining all of the Program’s oversight annually, and Retirement Plan Library – a binder to house all plan and compliance documentation.
Under prior rules, because the Self-Directed Brokerage Account allows plan participants to access a broad range of investment options, in addition to the Program’s designated options, your fiduciary responsibility outlined in section 404(c) of ERISA should be satisfied. To the extent new Department of Labor rules require any additional reporting, the Program will take necessary or appropriate action to facilitate compliance. To learn more about fiduciary considerations in offering a brokerage window, click here.
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