Fiduciaries’ Duties Regarding Service Providers

August 23, 2012 at 6:42 pm Leave a comment

The EBSA has a resource describing how a fiduciary for retirement plans should handle service providers on their website at   They have tips for monitoring providers such as checking reports and fees charges.  In addition, the EBSA suggested focusing on four areas when looking for a provider:  stability of the firm, competence of the provider, the provider’s business methodologies, and expenses charged.  In particular, the credentials and the ability to accurately perform the provider’s function is a problem area that I have seen fiduciaries either not thoroughly or accurately research.

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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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