Governance and Fiduciary Duty – What Retirement Consulting Actuaries Need to Know Audio/Webcast


Session Handout

Governance and Fiduciary Duty: What Retirement Consulting Actuaries Need to Know July 08, 2015 11:30 AM - 12:45 PM

Retirement consultants have dramatically increased their work with sponsors on the de-risking of their defined benefit (DB) pension obligations via plan design, settlements, and investment policy. Additionally, as defined contribution (DC) plans become the dominant vehicle for providing retirement income to a majority of workers in the US, actuaries are becoming more involved in helping sponsors monitor and make decisions about the effectiveness of such plans with regard to plan features, investment line-up and fees. These decisions and how they are documented and executed clearly have an impact on both sponsors and plan participants.

Presenters provide a refresher on plan governance and the definition and responsibilities of fiduciary duty, as well as opportunities to delegate fiduciary tasks. Consulting actuaries will also learn important differences between two key types of roles – settlor vs. fiduciary – defined with examples showing how the responsibilities, decision areas, documentation requirements and protocols, execution and other elements will vary between the two.

Session Category
Plan Design Issues
EA Core0.75
EA Non-Core0.75

  • 1 Joan Boughton Joan Boughton
  • 2 Bridget Steinhart Aon
  • 3 Kimberly Shaw Elliott IFP Plan Advisors