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Nine Questions Employers Have About Fiduciary Responsibility
Lawton Retirement Plan ConsultantsLink to more items from this source
May 12, 2015

"[1] Am I a fiduciary? ... [2] My boss appointed me to our plan's Investment Committee even though I don't have time to serve in this role. Am I a fiduciary?... [3] Is our investment advisor a fiduciary? How would I know? ... [4] I know my investment advisor is a fiduciary. That means that I don't have to be one, right?... [5] Our plan's recordkeeper has to be a fiduciary, right? Our plan attorney should be one as well since he is always telling us what to do with the plan.... [6] If an investment fund that the Investment Committee chose to offer loses money, are the fiduciaries liable for the loss?... [7] Some of the prior fiduciaries to our 401(k) plan don't seem to have done a good job choosing investment funds. Could we be liable, even though we weren't involved in selecting those funds?... [8] We just always do what our investment advisor tells us to do. As a result, there is no way we could be liable for any fiduciary breach, right?... [9] Is there any way to manage fiduciary risk and the associated liability?"

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