Fiduciary Duty Meets Stewardship: Aligning Compliance with Care

McDermott Will & Emery LLP

Todd Solomon spoke on the 401(k) Roundtable™ podcast episode entitled “Fiduciary Duty Meets Stewardship: Aligning Compliance with Care,” hosted by Rick Unser. The 401(k) Roundtable™ podcast is designed for plan sponsors, fiduciaries, and members of retirement plan committees.

In this episode, Todd discussed the evolving fiduciary landscape, trends in ERISA litigation, the impact of the current administration on the Department of Labor, and the shifting expectations around fiduciary duties. Key topics included the balance between duty of loyalty and prudence, the role of participant demographics in plan decisions, and the challenges plan sponsors face in weighing cost versus value—especially when selecting investments like target date funds. Todd and Rick also highlighted the importance of thoughtful documentation, proactive committee engagement, and innovative strategies to improve participant outcomes in today’s complex regulatory environment.

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