Understanding Your 401k Fiduciary Responsibilities: A Comprehensive Guide for Small Business Owners
Fiduciary responsibilities: Understand the core duties of a 401(k) plan sponsor, including following the plan document, monitoring fees, making prudent decisions, and providing required disclosures.
Best practices for managing risk: Learn how documenting decisions, reviewing investments and fees, and monitoring service providers can help reduce fiduciary risk and support plan success.
Finding the right support: Explore how financial advisors, TPAs, recordkeepers, and investment professionals can help you share fiduciary responsibilities and stay on track.
When you sponsor a 401(k) plan, you take on fiduciary responsibilities—meaning you must act in the best interests of plan participants when making decisions about the plan. These responsibilities are defined by federal regulations and include oversight, documentation, and ongoing review.
Download this PDF resource to better understand your role as a plan fiduciary, common areas of risk, and how the right partners and processes can help you confidently meet your obligations