Fiduciary Law

When managing retirement plans, employers often face complex decisions about who should oversee plan investments and fiduciary responsibilities. Two common types of fiduciaries under the Employee Retirement Income Security Act (ERISA) are the 3(21) and 3(38) fiduciaries. Understanding the differences between these roles is essential for plan sponsors who want to protect themselves from liability and ensure their employees' retirement assets are well managed. This article expl

Breaches of fiduciary duty can cause serious harm to individuals and organizations alike. When someone entrusted with responsibility fails to act in the best interest of another, the consequences can be costly and damaging. This post explains what fiduciary duty means, how breaches occur, and the impact they have. It also offers practical examples and guidance on recognizing and addressing these breaches. What Is Fiduciary Duty? Fiduciary duty is a legal and ethical obligatio

When it comes to managing employee benefit plans, the term ERISA fiduciary often comes up. But who exactly is an ERISA fiduciary, and why does this role carry such weight? Understanding this role is essential for anyone involved in retirement plans or employee benefits. This post explains what an ERISA fiduciary is, their key duties, and why their responsibilities matter to plan participants and employers alike. ERISA document on wooden desk What Is an ERISA Fiduciary? An ERI