• Multi-User Licensing

    You can provide access for 3, 5, 7 or 10 members of your retirement committee. Need more? Contact us to discuss volume licensing.

  • 1 Hour

    The course takes approximately 60 minutes to complete from start to finish, either all at once or in multiple sessions.

  • 51 Video Lessons

    The course includes over 50 video lessons covering topics like fiduciary status and duties, fiduciary liability, investments, fees, vendor selection and other best practices.

  • 13 Compliance Tips

    You'll learn 13 important compliance tips to help your committee avoid risk and improve process.

  • Certificate of Completion

    Upon finishing the course, you'll automatically receive a certificate of completion for your fiduciary file as evidence that you've received formal fiduciary training.

Why Take This Course?

Have you ever had to do a job you without proper training? These situations almost always lead to sub-optimal outcomes and poor performance.  

So here's the issue - you've got members of your retirement committee who haven't received any job training in a meaningful way but are responsible for millions and millions of dollars of their co-workers financial future, plus personal and corporate liability.  Would you hire someone at your company for a really important role and not provide them any training whatsoever?  Of course not.  So wouldn't it make sense to do the same thing for your committee members in an easy, cost-effective way?  

Created in consultation with Fred Reish from Faegre Drinker,  this course is designed to help 401(k) and 403(b) fiduciaries have a full understanding of what it means to be an ERISA fiduciary and to become better prepared to face their duties and manage both the corporate and personal liability that has arisen due to increased scrutiny from the Department of Labor and the rapidly growing number of 401(k) and 403(b) lawsuits in the marketplace.

Learning Objectives

This is an introductory level course. Upon completion, students will be able to:

  • Understand ERISA fiduciary status, duties and liability

  • Be able to identify a process for choosing investments and understanding fees

  • Know how to select and monitor vendors and service providers

  • Learn about “real life” best practices and emerging trends affecting ERISA fiduciaries

Course Curriculum

  1. 1

    • Meet Your Instructor

    • Course Overview

    • Disclaimer
  2. 2

    • History and Background

    • Compliance Tip #1
  3. 3

    • Fiduciary Functions

    • Settlor (Non-Fiduciary) Functions

    • Ministerial Functions

    • Co-Fiduciary Liability

    • Compliance Tip #2

    • Fiduciary Duties – ERISA Section 404(a)

    • A Prudent Fiduciary Process

    • Who Is Generally Not a Fiduciary?
  4. 4

    • Consequences of Breaching Fiduciary Duties

    • Compliance Tip #3

    • Common Fiduciary Breach Claims

    • Compliance Tip #4

    • Dispelling the Myths
  5. 5

    • The Plan Document

    • Plan Amendments

    • Compliance Tip #5

    • Compliance Tip #6

    • 408(b)(2) Disclosures
  6. 6

    • Investment Duties Under ERISA

    • Types of Investment Providers

    • Selection and Monitoring

    • Compliance Tip #7

    • Investment Policy Statements

    • Compliance Tip #8

    • Menu Construction

    • 404(c) Protection

    • Delegation to a 3(38) Manager
  7. 7

    • Types of Fees

    • Reasonable Compensation

    • Expense Allocation

    • Compliance Tip #9

    • Share Classes and Revenue Sharing

    • Compliance Tip #10

    • Fee Litigation
  8. 8

    • Evaluation Process (and Frequency)
  9. 9

    • Bonding and Insurance

    • Fiduciary Governance/Oversight Structure

    • Compliance Tip #12

    • Fiduciary Process Documentation

    • Compliance Tip #13

    • Reliance on Third Party Experts

    • Data Privacy

    • Cybersecurity
  10. 10

    • Final Exam

    • Course Survey

    • Course Recap

Bonus materials

  • Free Copy of The Fiduciary Formula

    Each member of your committee will receive a free copy of Josh Itzoe's Amazon best-selling book, The Fiduciary Formula: 6 Essential Elements to Create the Perfect Corporate Retirement Plan

  • Fiduciary Guides

    You'll receive 3 fiduciary guides with important questions to ask, including:

    • What to Look for in Plan Auditor
    • Cybersecurity Questions for Recordkeepers and Other Service Providers
    • What to Look for in Fiduciary Advisor

  • Fiduciary Wellness™ Assessment

    Receive a discounted Fiduciary Wellness™ assessment that scores your fiduciary process according to the 6 key elements and 40 best practices that drive plan success for both your company and your employees