Fiduciary Responsibility

May 11, 2012 at 7:06 am Leave a comment

The EBSA has a resource describing fiduciary duty for retirement plans on their web site at http://www.dol.gov/ebsa/pdf/meetingyourfiduciaryresponsibilities.pdf.  It touches on some of this week’s topics such as fees.   The responsibilities of a plan fiduciary such as investment diversification, reasonable fees, being prudent and following the terms of the plan document would not shock many people.

Areas of fiduciary responsibility that might surprise people are the responsibility to base decisions exclusively on whether they benefit the plan participants and beneficiaries.  Noteworthy sections are regarding the actions of the fiduciary where the individual has a conflict of interest and prohibited transactions.  The government has created a high standard of ethics and accountability in these areas.

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Entry filed under: Ethics. Tags: , , , , , , , .

Government Pension Reform What Should Fiduciaries be Documenting?

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Christine Gurney

A pension professional who shares her thoughts and ideas about the pension world for industry members and anyone else interested.

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