For many HR professionals, balancing employee support with fiduciary responsibility can feel like a constant tension.
Chris, an HR Director for a growing company of more than 100 employees, shared that concern during a recent TPSU program in Columbus, Ohio. As his company continues to expand, he feels a strong responsibility to do more for employees—while also being mindful of the risks tied to retirement plan decisions.
Speaking with TPSU Founder and CEO Fred Barstein, Chris said one of his biggest takeaways was the clear reminder that anyone involved in making plan decisions is acting as a fiduciary. That responsibility carries real weight—not just personally, but for company leadership as well.
At the same time, he emphasized that fiduciary responsibility doesn’t mean doing everything alone. Understanding the boundaries of that role—and working with knowledgeable, trusted partners—can help HR leaders support employees effectively while staying aligned with their responsibilities.
For Chris, the experience helped clarify how to strike that balance: continuing to advocate for employees while making informed, well-supported decisions within the scope of his role.
Read the Full Transcript Here:
Fred Barstein:
Greetings, this is Fred Barstein, CEO, Founder of TPSU and 401kTV. Just completed a program here in Columbus, Ohio, and I’m here with Chris. Welcome, Chris.
Chris:
Thank you.
Fred Barstein:
If I ask you a few questions?
Chris:
Yeah, absolutely.
Fred Barstein:
Before we do, tell our audience a little bit about yourself.
Chris:
So, I’m an HR Director for about 105 employees. We’re growing fast. In the last two years, we’ve hired probably about 40 people.
Fred Barstein:
Wow. One of the questions you asked—which I actually hadn’t heard before but was really good—was about wanting to help people but also being concerned about fiduciary liability and how to manage that. Why did you ask that question, and what did you hear from our panel?
Chris:
I think what sparked it for me was one of the other participants today was speaking about feeling like they hadn’t done enough for their employees, and I was able to relate to that.
What it stirred up in me was wanting to be cautious around what we’re offering to do or what we expect needs to be done.
So that’s where the question started—what is a fiduciary, and how far should we be going? I don’t want to put myself at risk, and I don’t want to put the owners of the company at risk, but I also want to make sure I’m helping employees and pushing the line so they can get support.
Fred Barstein:
And what did you hear from our panelists that resonated?
Chris:
Two things. One was the reassurance and confirmation that you are a fiduciary. If you’re in the room and making decisions, you are a fiduciary.
The second was understanding that depending on your role, there are limitations to what that fiduciary responsibility is. That tied into the benefit of having great partners.
Having strong partners helps support what you want to do and align your employees with the right retirement plan.
Fred Barstein:
Final question—what are a couple of things you learned, and would you recommend TPSU?
Chris:
I’ll start with the recommendation—absolutely. I would recommend TPSU.
The structure is great, especially for someone like me who has a background in financial planning. It delivers information in a way that isn’t sales-driven and is focused on what’s actually beneficial.
One of the biggest things I learned was the importance of peer communication. Breaking into groups was really impactful. It helped me see what we do well, but also compare with others in similar-sized companies across different industries.
It showed me that even things I thought were strong can still be improved.
Also, the idea of the “perfect plan.” Even if it’s not fully attainable, understanding what that could look like and what it should include was really valuable.
Fred Barstein:
That’s great. Thank you for your time.
Chris:
Thank you.
Fred Barstein:
And thank you for watching 401kTV. Stay tuned and look for a TPSU program near you.
