The Department of Labor (DOL) passed the Conflict of Interest Final Rule on April 8, 2016, which amended the Employer Retirement Income Security Act of 1974 (ERISA) and expanded the definition of the term fiduciary. Even though the rule's primary focus is on investment advisors, it impacts all plan fiduciaries. The Final Rule, plus an increase in audits by the DOL, puts many plan sponsors at risk of being audited, paying fines or being sued by plan participants. This course is designed to help fiduciaries understand their responsibilities and avoid personal liability.
You will learn:
- Who is and who is not a fiduciary
- Duties and requirements of a fiduciary
- Importance of policies and procedures
- Implications of co-fiduciary liability and delegation of duties
- Prohibited transactions, penalties, and remedies
- Termination of fiduciary status.
SHRM: 2 PDC
HRCI: 2 HR
|Name||Fiduciary Responsiblities for ERISA Plans|
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