Compliance May 31, 2017

DOL Fiduciary Responsibilities Seminar to Be Held in Cleveland

The DOL notes that complying with all fiduciary responsibilities can be especially challenging for small and medium-sized employers who have limited time, resources and access to professional help with benefit programs.
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The Department of Labor (DOL) Employee Benefits Security Administration (EBSA) has announced its “Getting It Right – Know Your Fiduciary Responsibilities” seminar, to be held in Cleveland on July 11.

The DOL says the seminar will increase awareness and understanding about basic fiduciary responsibilities when operating a retirement plan. It notes that complying with all fiduciary responsibilities can be challenging—especially for small and midsize employers, which have limited time, resources and access to professional help with benefit programs.

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Topics to be covered in the seminar include:

  • Understanding your plan and your responsibilities;
  • Carefully selecting and monitoring service providers;
  • Making contributions on time;
  • Avoiding prohibited transactions; and
  • Making appropriate disclosures to plan participants and filing annual reports to the government on time.

The seminar will run from 8:30 a.m. to 4:30 p.m. EDT, at the Double Tree Hilton – Cleveland.

More information and a link to register are here. 

A reminder that a separate DOL seminar on fiduciary responsibility will be held in Springfield, Illinois, on June 21.

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