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Fiduciary Duties for Health and Welfare Plans: The Duty of Prudence
HUB International Link to more items from this source
Apr. 26, 2022

"At its heart, prudence must be exercised in the decision making process. For health and welfare plans this primarily means prudence in selecting and monitoring plan service providers. The service providers themselves may or may not be fiduciaries, but even if the service provider is not a fiduciary, the service provider can advise the fiduciary on matters that allow the fiduciary to make an informed decision."

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