ERISA’s five fiduciary duties are the backbone of a strong benefits compliance program – can you name them? Fiduciary is THE buzz word in the benefits industry, yet many employers struggle to understand how the duties apply in day-to-day benefit plan decisions. Patriot’s Benefits Compliance Counsel, Olivia Ash, will define an ERISA fiduciary; outline the five duties; review examples of fiduciary plan decisions (and those that are not); and use current court cases to reveal where employers may need to “shore up” plan compliance.
