Details

Course Overview: Retirement Plan Governance and Fiduciary Responsibilities

This course is designed for professionals involved in the governance of retirement plans, focusing on fiduciary responsibilities and best practices. Participants will gain a comprehensive understanding of the legal and regulatory frameworks guiding retirement plan governance. The curriculum emphasizes the importance of ethical decision-making and effective management to ensure compliance and protect the interests of plan participants.

Course Outline

Module 1: Introduction to Retirement Plan Governance

• Overview of retirement plan types and structures.
• Understanding governance frameworks and their importance.
• Roles and responsibilities of fiduciaries.
• Key regulations affecting retirement plans (ERISA, IRS guidelines).

Module 2: Fiduciary Duties and Best Practices

• Defining fiduciary duties: prudence, loyalty, and diversification.
• Best practices for fiduciary decision-making and oversight.
• Identifying and managing conflicts of interest.
• Importance of documentation and compliance in fiduciary roles.

Module 3: Risk Management and Compliance

• Assessing risks associated with retirement plan governance.
• Implementing effective compliance programs and audits.
• Understanding the role of the Department of Labor (DOL) and other regulatory bodies.
• Strategies for maintaining transparency and accountability.

Module 4: Monitoring and Evaluating Plan Performance

• Techniques for evaluating investment options and performance.
• Best practices for participant communication and education.
• Tools for monitoring plan compliance and governance effectiveness.
• Preparing for regulatory reviews and audits.

Conclusion

Upon completion of this course, participants will have a solid understanding of retirement plan governance and fiduciary responsibilities. Equipped with practical knowledge and ethical guidelines, learners will be prepared to effectively manage retirement plans and protect the interests of plan participants.