Products March 27, 2003
NYLIM Unveils Fiduciary Education Campaign
March 27, 2003 (PLANSPONSOR.com) - Plan sponsors who
may not be clear on their many and varied responsibilities as
fiduciaries could get a better picture through a new
education program offered by NYLIM Retirement Plan
Services.
Reported by Fred Schneyer
Among the educational materials now available is a booklet that defines fiduciaries and their roles and responsibilities, and includes suggested steps to reduce risk. The program also includes a new quarterly training series for plan sponsors on fiduciary issues, and various sample templates such as investment policy statements and pension committee meeting minutes.
Under ERISA, an individual is a fiduciary if he or she provides management, investment advice, or administration to a retirement plan.