Attorney discusses fiduciary process for retirement plan sponsors

Dickinson Wright will present a webinar on “Building a Better Fiduciary Process for 2024 for Retirement Plan Sponsors” Tuesday, April 16, from 1 to 2 p.m.

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.

Dickinson Wright's Eric Gregory, member and Employee Benefits & Executive Compensation Group co-chair in Troy, and CAPTRUST's Errol Hau will 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. The pair will 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

To register for the webinar, visit

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