Fiduciary Guidance
CFOs, CEOs, Presidents and other fiduciaries have personal liability for assets in the company’s retirement plan. The following chart provides an example of fiduciary considerations required of plan sponsors by two ERISA regulations passed in 2013. Additional regulations are currently being considered by Federal legislators.
To help you comply with these and other ERISA rules, we provide fiduciary guidance and tools to help you reduce your exposure to fiduciary liability.
| ERISA 408(b)(2) | ERISA 404(a)(5) |
|---|---|
| Fiduciary Duties | Protection for Participant Investment Decisions |
| Investment Policy Statement (IPS) | Broad range of Investment Options |
| Quantitative & Qualitative Fund Analysis | Sufficient Investment Information and Education |
| Prudently Select Investments | Description of Fees and Expenses |
| Consistently Implement Results | 404(a)(5) Policy Statement and Employee Notice |
| Independently Monitor Investments | Copy of Prospectus |
| Defray Reasonable Expenses | Description of Investment Alternatives and Funds |
| Follow Plan Document | Voting and Tender Rights (if applicable) |
