Fiduciary and Compliance Tune-Up

Fiduciary and Compliance Tune-Up

What fiduciary training have you received? 


The Institute provides plan sponsors with a fiduciary and compliance tune-up. This will include educating plan fiduciaries to the recent DoL’s new Fiduciary Rule and the potential impact on their plan.

To be the plan administrator means that you take on the role of a fiduciary within the meaning of section 3(21)(A)(iii) of ERISA— with all of the trimmings. You interpret the plan documents. You ensure the plan complies with 408(b)(2). You make all of the appropriate reporting, disclosures and vendor selections. You evaluate and monitor other plan fiduciaries, services providers, plan investments and the reasonableness of all plan fees and contracts.

The DOL’s new definition of fiduciary advice will require every plan fiduciary to spend valuable time determining if and how it’s going to affect their plan.

The new rule will have its greatest impact on those plans that use 12(b)(1) fees to pay plan expenses and those providers selling these products, as they have avoided fiduciary status by hiding behind the “solely incidental” defense.

No plan is to small to be sued.

Our fiduciary and compliance tune-up is a significant step towards documenting your fiduciary training and plan oversight