Don't Be In The Doghouse! Understand How Fiduciary Duties Impact Your Retirement Plan | Sponsored by Trust Point Inc.

Fiduciary Duty. Federal law requires that those responsible for managing employer-based retirement plans act as fiduciaries. Generally speaking, fiduciaries must carry out their responsibilities prudently and solely in the interest of the plans participants and beneficiaries. Often business owners believe that their plan advisor, plan record keeper, or other plan-related vendors are the plan fiduciaries. But this may not be the case. And, even if it is, not all fiduciary duties can be delegated to plan-related vendors and not all fiduciaries are created equal. This educational presentation will address what fiduciary duties may, and may not, be delegated by business owners. It will also take a deep dive into the various levels of fiduciary duty that may be delegated to plan-related vendors and the potential impact and liability for business owners associated with the various fiduciary structures that may be adopted in connection with their employer-based retirement plans.