What Is A Retirement Plan Fiduciary?
0 POINTSContact Meview profileDavid RacichPROFountain Hills, ArizonaEmployee Retirement Income Security Act (ERISA) of 1974 requires employer sponsored plans to accept fiduciary responsibilities for compliance under 404c and the newest regulation for fee disclosure, 408(b)(2). ERISA requires employers to design a written plan, a trust fund to hold the assets, an accounting system for the retirement plan and written notifications and updates to plan participants.Answered on July 9, 2013+01+1 this answer
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37376 POINTSview profileDavid G. Pipes, CLU®, RICP®Business Development Officer, T.D. McNeil Insurance Services, Fresno, CaliforniaA fiduciary is someone responsible for money that belongs to someone else. A pension plan fiduciary is responsible for the money that is being set aside to pay benefits in the future. The pension plan itself specifies the scope of the fiduciary’s responsibility. Fiduciaries are often bonded.Answered on May 21, 2014flag this answer
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