Ten non all-inclusive responsibilities of a fiduciary are highlighted. <br> <p align="center">Ten Fiduciary Responsibilities</p>
<p>This week I will be conducting a webcast of the "Fiduciary Responsibilities under ERISA." In preparation I include a quick checklist of some of the main responsibilities and duties of a fiduciary. This list is not all inclusive. </p>
<ol start="1" type="1">
<li>A fiduciary must act solely in the best interests and for the exclusive benefit of plan participants and beneficiaries.</li>
<li>A fiduciary must act with care, skill, and diligence that would be exercised by a reasonably prudent person familiar with such matters.</li>
<li>A fiduciary must defray all plan expenses in a reasonable manner.</li>
<li>A fiduciary must comply with all plan documents and all pertinent government laws and regulations.</li>
<li>A fiduciary must seek the advice of experts and evaluate said advice if unsure of his/her own expertise.</li>
<li>A fiduciary must not use his/her position for personal gain.</li>
<li>A fiduciary must not partake in certain transactions with parties providing services to the plan.</li>
<li>A fiduciary must not act on behalf of any party whose interests are adverse to the interests of the plan or the participants.</li>
<li>A fiduciary must make sure plan diversify plan investment options. Huh?</li>
<li>A fiduciary must prudently select investment options for the plan, periodically evaluate the performance of such vehicles and determine whether or not to change the participant options.</li>
</ol>
<p>If you want a more comprehensive list, please join me on March 21, 2006 for my one-hour online learning webcast, where we will discuss this subject further. Should you have any comments, please use the tab below "<b>Add Comment</b>" to respond.</p>
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