HUB Compliance Guide: Fiduciary Governance

When companies sponsor retirement plans, such as 401(k) and 403(b) plans, the officers and senior managers who make decisions about the plans’ investments, providers, and administration are fiduciaries under ERISA — the Employee Retirement Income Security Act.

A number of courts have said that ERISA’s fiduciary standard — the prudent man rule — is the highest standard known to the law. The point is that it is a demanding standard of care that requires that fiduciaries understand the issues they need to address and that they make informed and knowledgeable decisions about those issues.

This guide discusses five dangerous assumptions that some plan fiduciaries make. It then helps fiduciaries avoid the pitfalls of those assumptions by explaining the real issues and how to satisfy the requirements.

HUB Compliance Guide: Fiduciary Governance


The article is for general information only and is not intended to provide investment, tax or legal advice, or recommendations for any particular situation. Please consult with a financial, tax or legal advisor on your circumstances.

Securities offered through LPL Financial, member FINRA/SIPC. Investment advisory services offered through Global Retirement Partners, LLC (GRP), a registered investment advisor. Insurance services offered through HUB International. GRP, Washington Financial Group and HUB International are separate and unaffiliated with LPL Financial. Washington Financial Group is the approved name under which LPL Financial business is conducted.

Q1 2024 Retirement Plan Newsletters

We are pleased to provide you with our latest quarterly newsletters – Retirement Insights (for Plan Sponsors) and Reach for Retirement (for Plan Participants – in both English and Spanish).

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