Related Articles

• 
  Understanding the Differences Between ERISA Bonds and Fiduciary Bonds

  We have found at Spectrum that plan sponsors and the advisors who work with them may sometimes be confused about the differences between ERISA Bonds and Fiduciary Bonds. With this in mind, here is a quick overview of the distinctions and why understanding them is key for effective retirement plan risk management.
• 
  Did You Know You Are a Fiduciary?

  As a plan sponsor of a qualified retirement plan, you are a fiduciary of your plan. Unfortunately, some clients don’t know that. Nor do they understand the practical ramifications of this. That’s why we’re providing expert guidance on this vitally important topic. In this episode of Spectrum Employer Connect, we provide an overview of an employer's fiduciary role and responsibilities.
• 
  Wrap Document to Comply With ERISA Summary Plan Description (SPD) Requirement

  Virtually every private sector employer offering employee benefit plans is subject to certain ERISA requirements. Any such employers must provide an SPD to paraticipants. Failing to comply can be very costly for employers. Insurance carrier documents are generally inadequate. One solution for employers is to use an ERISA Wrap Document or Wrap SPD.
• 
  Plan Fiduciary Services and Why They Matter

  In a plan sponsor's capacity as fiduciary to its plan, the plan sponsor has a variety of specific responsibilities to manage–or–outsource to a professional, qualified third party. A 3(16) fiduciary service is the mechanism where you, as plan sponsor, can outsource some, or all, of your administrative fiduciary responsibilities. This video highlights these administrative fiduciary responsibilities and your options to manage or delegate this role to a 3(16) fiduciary service provider.
• 
  New Department of Labor Fiduciary Rule: Protecting Retirement Security

  In a continued effort to enhance investor protection and promote transparency when it comes to financial advice, the Department of Labor (DOL) has introduced a new fiduciary rule. The proposed DOL rule, called the Retirement Security Rule: Definition of an Investment Advice Fiduciary, updates the definition of an investment advice fiduciary under the Employee Retirement Income Security Act (ERISA). This regulation places a heightened emphasis on the best interests of plan participants who rely on financial service providers for advice.
• 
  Investment Menus & Fiduciary Considerations

  Plan Sponsors have a fiduciary duty to select and monitor investments in a retirement plan. Ensuring that an investment menu is cost efficient and appropriate for the given employee population is a large component of this responsibility. The wide array of available investment options and complex fiduciary requirements can make this challenging. In particular, it may be difficult to determine whether adding a new trending asset class makes sense for a retirement plan and its participants, or whether it is more prudent to steer clear.