Webcast Series | Getting It Right - Know Your Fiduciary Responsibilities

Operating an employee benefit plan can be challenging, especially for small and medium sized employers who have limited time, resources, and access to professional help with benefit programs.  To help increase awareness and understanding about basic fiduciary responsibilities when operating a retirement or health benefit plan, the Department of Labor is presenting the Getting It Right – Know Your Fiduciary responsibilities webcast series.

The webcast series will help employers and service providers understand how the fiduciary responsibility provisions of the Employee Retirement Income Security Act (ERISA) apply to employer-sponsored retirement and health plans, and provide information on how to avoid common problems in managing a plan.

Specifically, getting it right means understanding your plan and your responsibilities, carefully selecting and monitoring service providers, making contributions on time, providing appropriate disclosures to plan participants and filing annual reports to the government on time, and avoiding prohibited transactions.

The webcast series is being presented in three sessions.  Attendees can register for all sessions or for individual sessions.  During the webcasts, speakers from the U.S. Department of Labor will discuss the following information:

• March 15 - Basic fiduciary responsibilities when operating an employer-sponsored retirement plan and ERISA's prohibited transactions provisions and exemptions.

• March 17 - ERISA's reporting and disclosure provisions for employer-sponsored retirement plans and the Department of Labor's voluntary correction programs for retirement plans.

• March 22 - Basic fiduciary responsibilities when operating an employer-sponsored group health plan, ERISA's reporting and disclosure provisions, and Qualified Medical Child Support Orders (QMCSOs).  This webcast will not cover the Affordable Care Act.