Fiduciary Responsibility for ERISA Plans
The Employer Retirement Income Security Act of 1974 (ERISA)
introduced the concept of fiduciary responsibility for those overseeing
and dealing with private employee benefit plans. This course is designed
to identify benefit plan fiduciaries, their roles, and their duties.
Breach of fiduciary duty can lead to personal fines and lawsuits. Plan
sponsors and trustees are at risk of being audited by the U.S.
Department of Labor (DOL) or Internal Revenue Service (IRS), paying
fines or being sued by plan participants. This course is designed to
help fiduciaries understand and carry out their responsibilities
faithfully.
The definition of a fiduciary
under ERISA has fluctuated in the past decade. In 2016, the DOL
published a rule expanding the definition of who is considered a
fiduciary, but the rule had mixed support, and the rule was vacated by a
federal court in June 2018.
In December 2020,
the DOL finalized a best interest standard (effective February 16,
2021), which is designed to align fiduciary duties with respect to
employee benefit plans under ERISA with the fiduciary duties of
registered investment advisers under securities laws. In April 2021, the
DOL published FAQ guidance. This course aims to describe how fiduciary
responsibility is determined after May 2021.
This course counts toward the
Certificate in ERISA Compliance.
Earn your certificate to understand ERISA general requirements, the
role of the fiduciary, how ERISA impacts various plans and more.
Two-Credit Course
Price: $120 Members
($180 Nonmembers)
Why Choose E-Learning?
Self-Paced
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Expert-Created Content
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Cost-Effective
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Questions?
Contact us at (888) 334-3327, option 3 or [email protected].
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