Fiduciary Education for Retirement Committees is no longer a one-off event. As the Retirement Industry becomes more complicated and litigious, plan sponsors are becoming more concerned. Fiduciary Education for Retirement Committees is now more of a process. Once thought of as an annual event – more and more plan sponsors are seeking broader fiduciary education. There is a growing need for ongoing specialized fiduciary training. Retirement Committee members who sit on the Fiduciary Committee or the company Retirement Plan Committee are cautious. Plan sponsors actively search for comprehensive education instead of yet another advisor sales-pitch.
Now plan sponsors view fiduciary liability as an internal risk to be recognized and managed. If an individual at the company has a seat on the retirement committee they remain vigilant. If they exercise control over plan assets, they will likely need assistance. Plan Sponsor fiduciaries are seeking formal fiduciary education in record numbers.
There is a high price to be paid for failing to act as a responsible fiduciary. Retirement Committee Education can be delivered to plan Sponsor Fiduciaries in a number of ways. The good news today is that Fiduciary Education for Retirement Committees is available in a virtual delivery method. Today there are many alternatives available to plan sponsors. The Plan Sponsor University still provides free retirement committee education to committee members via their virtual Retirement Committee Education package for plan Committee members.
When you or the members of your committee are seeking education for the in-house retirement committee – Look carefully at the various choices.
To learn more about Fiduciary Education for Retirement Committees please feel free to CLICK HERE or watch the video below for more information.