Why should business owners better understand the roles of fiduciary responsibility – and potential risk of liability exposure – in managing Employee Benefit Plans? The following blog post explores this topic.
If your company sponsors retirement or other benefit plans for your employees, many of them could be considered a fiduciary. Do you have a clear understanding of the fiduciary responsibilities that the Employee Retirement Income Security Act (ERISA) imposes upon those in your business that may be involved in the management of that plan?
If not, your business could be at risk of liability exposure.
Listen to the experts and learn about the responsibility various individuals in your organization may have to the plan, and its participants. It’s important to understand these roles and potential exposures.
If you would like to gain more insights into how you can reduce your liability risks, or are interested in learning more about SC&H Group’s Employee Benefit Audit practice, we welcome you to contact Jen here.
In addition, listen to more of Jen’s insights on Employee Benefit Plans, here.