Understanding Your Fiduciary Responsibilities Under ERISA
Employers have long understood the importance of fiduciary compliance with respect to 401(k) plans and other retirement plans subject to ERISA, and most have sound processes and governance structures in place to ensure the fulfillment of their fiduciary duties. Many employers, however, do not apply the same level of fiduciary compliance for their ERISA health and welfare plans even though many of the same fiduciary standards apply. Now is the time to focus on group health plan fiduciary obligations as proposed fee transparency requirements and transparency in coverage regulations are bringing fiduciary risk for health and welfare plans into focus. Join Verrill and the Health Care Purchaser Alliance of Maine for a complimentary webinar, "Understanding Your Fiduciary Responsibilities Under ERISA," on Wednesday, May 26 from 12:00 to 1:00PM.
During the webinar, Verrill Partner Chris Lockman will discuss fiduciary risk and will outline strategies that employers should adopt to ensure compliance. The discussion will also include how to determine what actions qualify as fiduciary activities, who should be making fiduciary decisions, how to set up governance structures that protect plan sponsors, and more.