Fiduciary Responsibilities

As an employer sponsoring an employee benefit plan—such as a 401(k), pension, or health plan—you are legally considered a fiduciary. Under the Employee Retirement Income Security Act of 1974 (ERISA), taking on a benefit plan means you become a fiduciary. This means you have a legal duty to handle the plan with great care and always act in the best interests of your employees and their beneficiaries.

These duties cover the essentials of good plan management: from selecting investments carefully and monitoring fees to making sure you provide accurate, timely information.

This page is designed to be your central, practical resource for understanding, managing, and satisfying your fiduciary obligations with confidence.