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|Nine Questions Employers Have About Fiduciary Responsibility|
Lawton Retirement Plan Consultants
May 12, 2015
" Am I a fiduciary? ...  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?...  Is our investment advisor a fiduciary? How would I know? ...  I know my investment advisor is a fiduciary. That means that I don't have to be one, right?...  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....  If an investment fund that the Investment Committee chose to offer loses money, are the fiduciaries liable for the loss?...  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?...  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?...  Is there any way to manage fiduciary risk and the associated liability?"
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