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Retirement plan fiduciaries are increasingly operating from a defensive posture as the subject of lawsuits alleging breach of fiduciary duty due to underperforming investments, excessive fees, and failure to select and monitor investment options. In this environment, it is more important than ever that plan sponsors understand their key fiduciary duties and responsibilities under ERISA, the importance of procedural prudence, and considerations for managing fiduciary risk and responsibility. To that end, plan sponsors not only need to consider whether their decisions have good outcomes, but also that they have developed and documented a proper process in arriving at those decisions.
Join Dickinson Wright's Eric Gregory and CAPTRUST's Errol Hau as they discuss practical strategies to comply with fiduciary duties applicable to retirement plan sponsors, and how to reduce exposure for liability for breaches of fiduciary duties. Specifically, we'll be discussing:
- Understanding the nature of fiduciary liability under ERISA
- Developing better processes to hire competent service providers for a reasonable fee
- Properly documenting decision-making processes
- Understanding and avoiding common errors
The live session has concluded, but don't worry! You can still catch all the valuable insights by clicking below to view the on-demand recording.
