Retirement Committee Education is now a high priority for Retirement Plan Sponsors. Individuals who sit on the company Retirement Plan Committees are seeking fiduciary education and plan governance instruction like never before. The same goes for individuals who are plan sponsor fiduciaries. In the event an individual is a person of influence over plan assets or plan providers, they are well served to seek formal and professional education around what they should and should not be doing.
There is a high price to be paid for failing to act as a responsible fiduciary. Retirement Committee Education can be found in a number of ways. In many cases retirement plan advisors are educating their clients on a periodic and regular basis. But where does a plan sponsor turn if they know that their retirement plan committee members are in need of retirement committee education? The good news is – there are alternatives. As an example The Plan Sponsor University offers free retirement committee education to committee members via their virtual Retirement Committee Education package for plan Committee members.
Law firms also periodically offer education to clients and the general public. It is never too early or too late to take advantage of Fiduciary Education. Committee members need to know what is important to them when serving as a fiduciary. Plan fiduciaries are not required to possess formal fiduciary training – but it sure makes sense to do so!
To learn more of your options when seeking high-level education for your retirement committee education speak with your plan advisor or plan counsel.
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