To help increase awareness and understanding about basic fiduciary responsibilities when operating a retirement or health benefit plan, the Department of Labor (DOL) is presenting the Getting It Right – Know Your Fiduciary Responsibilities webcast series for 2020.
The webcast series will help employers and service providers understand how the fiduciary responsibility provisions of the Employee Retirement Income Security Act (ERISA) apply to employer-sponsored retirement and health plans, and provide information about how to avoid common problems in managing a plan.
Specifically, the DOL says, getting it right means understanding your plan and your responsibilities, carefully selecting and monitoring service providers, making contributions on time, providing appropriate disclosures to plan participants and filing annual reports to the government on time, and avoiding prohibited transactions.
The webcast series is being presented in three sessions. Attendees can register for all sessions or for individual sessions.
- March 11 – Basic fiduciary responsibilities when operating an employer-sponsored retirement plan, and prohibited transaction provisions and exemptions under ERISA.
- March 12 – Reporting and disclosure requirements for employer-sponsored retirement plans, and the Department of Labor’s voluntary correction programs.
- March 17 – Basic fiduciary responsibilities when operating an employer-sponsored group health plan, reporting and disclosure provisions under ERISA, and Qualified Medical Child Support Orders (QMCSOs).
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