Mutual of Omaha Releases Fiduciary Kit

September 8, 2003 ( - There is now another educational tool on the market about how plan fiduciaries should properly mind their Ps and Qs.

According to a news release, the Mutual of Omaha’s Fiduciary Toolkit is designed to help educate fiduciaries about their responsibilities in maintaining their plan.   “Fiduciaries have a tremendous responsibility of selecting and monitoring their plans’ investments to create positive returns for plan participants,” said Mutual of Omaha Vice President Ryan Bauer. “Key to that is making sure the plan is managed properly.”

Bauer said a key component in the toolkit is a fiduciary checklist, which provides a step-by-step process for designing and monitoring a plan:

  • establish an investment policy for your plan
  • select diversified investment options consistent with your investment policy
  • select the investment managers for each of the investment offerings in your plan
  • select the service providers for your plan
  • provide information regarding the investment options to participants
  • consider compliance with ERISA Section 404(c)
  • monitor your plan’s investment offerings and make any necessary changes in the investment policy or investment offerings
  • monitor the performance of the plan service providers.