Client Fiduciary Review / Best Practices Training - Michael J Olah Associates

Go to content

Main menu:

Customized ERISA Fiduciary Training Course

One of the best defenses to the perils of litigation is to not put yourself in that position in the first place. Knowledge is key to performing your functions as a fiduciary properly. To that end, we provide training to fiduciaries so that they can 1) understand when they are performing as a fiduciary and when they are not; 2) what is really expected of them as a fiduciary; and 3) what steps to take as a fiduciary to ensure you're doing it right.

Being a good fiduciary means more than picking the best lowest cost funds for the plan. While investment selection and monitoring (and understanding the costs associates with them) is a significant fiduciary obligation, every decision made by fiduciaries with respect to providing benefits to participants and beneficiaries is equally as significant, and oft overlooked. ERISA requires a "prudent process" for all things fiduciary in nature, and that requires an understanding of what needs to be considered in making a decision, how to consider it, understanding what are the available outcomes of that deliberation, and what should be documented about the process and decision.

We can work with plan sponsors (and their advisors) to identify areas where processes should be implemented or enhanced, guide fiduciaries through the requirements of data collection and analysis, identify all possible outcomes or solutions that are consistent with ERISA and the plan documents, and implement a prudent documentation process that demonstrates adherence to the process and good fiduciary practices.

Our services don't just end there. We remain a resource available to our clients to help them be thoughtful and thorough fiduciaries, and to continually evaluate their process for continuous improvement as circumstances, regulatory requirements, or plan sponsor desires change.
Back to content | Back to main menu