3 Things Every Plan Committee Member Should Know

3 Things Every Plan Committee Member Should Know

1. You are an ERISA fiduciary

2. As an ERISA fiduciary, your liability is personal

3. You are responsible for the actions of other plan fiduciaries.

Your responsibilities are to act solely in the interest of plan participants.  Following plan documents, diversifying investments to minimize the risk of large losses, and ensuring the plan’s expenses are reasonable are all responsibilities for fiduciaries.

Read more at Napa.net or  DOL.gov/EBSA .