Understanding Fiduciary Duty: Hiring a Service Provider

Multnomah Group

In some instances, your retirement plan committee may lack the expertise to prudently address all areas of its fiduciary responsibility. The Department of Labor allows fiduciaries to hire service providers to handle fiduciary functions where the committee lacks expertise. This does not absolve the committee of their responsibility in that area but extends to the oversight of the service provider and their fees.

In this webinar, we discuss a section of our Fiduciary Training Program focused on service providers and their fees.

You will learn:

• How to assess if a service provider is needed to perform a specialized function
• What services can be obtained from outside providers
• ERISA guidance related to the payment of plan expense

More Information, How to Register