{"id":1939,"date":"2021-09-07T21:34:21","date_gmt":"2021-09-07T21:34:21","guid":{"rendered":"https:\/\/www.amalgamatedbenefits.com\/amalgamated-employee-benefits-administrators\/?p=1939"},"modified":"2022-08-11T19:10:06","modified_gmt":"2022-08-11T19:10:06","slug":"ebsas-fiduciary-education-tools-help-plan-sponsors","status":"publish","type":"post","link":"https:\/\/www.amalgamatedbenefits.com\/amalgamated-employee-benefits-administrators\/ebsas-fiduciary-education-tools-help-plan-sponsors\/","title":{"rendered":"EBSA\u2019s Fiduciary Education Tools Help Plan Sponsors"},"content":{"rendered":"<p class=\"leading\">The Employee Benefits Security Administration (EBSA) recognizes the complexities involved in retirement plan sponsors\u2019 fiduciary responsibilities. To assist plan sponsors with their regulatory compliance, ERISA has developed a Fiduciary Education Campaign. It includes a variety of educational resources ranging from seminars and webcasts to various publications.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.amalgamatedbenefits.com\/amalgamated-employee-benefits-administrators\/wp-content\/uploads\/sites\/4\/2021\/09\/Fiduciary-Education-1024x683.jpg\" alt=\"People listening to a presentation with their coffees\" class=\"wp-image-1940\" srcset=\"https:\/\/www.amalgamatedbenefits.com\/amalgamated-employee-benefits-administrators\/wp-content\/uploads\/sites\/4\/2021\/09\/Fiduciary-Education-1024x683.jpg 1024w, https:\/\/www.amalgamatedbenefits.com\/amalgamated-employee-benefits-administrators\/wp-content\/uploads\/sites\/4\/2021\/09\/Fiduciary-Education-300x200.jpg 300w, https:\/\/www.amalgamatedbenefits.com\/amalgamated-employee-benefits-administrators\/wp-content\/uploads\/sites\/4\/2021\/09\/Fiduciary-Education-768x512.jpg 768w, https:\/\/www.amalgamatedbenefits.com\/amalgamated-employee-benefits-administrators\/wp-content\/uploads\/sites\/4\/2021\/09\/Fiduciary-Education-1536x1024.jpg 1536w, https:\/\/www.amalgamatedbenefits.com\/amalgamated-employee-benefits-administrators\/wp-content\/uploads\/sites\/4\/2021\/09\/Fiduciary-Education-2048x1365.jpg 2048w, https:\/\/www.amalgamatedbenefits.com\/amalgamated-employee-benefits-administrators\/wp-content\/uploads\/sites\/4\/2021\/09\/Fiduciary-Education-scaled.jpg 1920w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<h3 class=\"wp-block-heading\">Getting It Right &#8211;&nbsp; Know Your Fiduciary Responsibilities Campaign<\/h3>\n<p>The campaign titled, \u201cGetting It Right &#8211;&nbsp; Know Your Fiduciary Responsibilities,\u201d was developed to help increase workers\u2019 health and retirement security by educating employers and service providers regarding their fiduciary responsibilities under the Employee Retirement Income Security Act (ERISA). The campaign focuses on conveying important information regarding the law and plan sponsors\u2019 responsibilities and provides guidance on how to avoid the most common mistakes made.<\/p>\n<p>Specifically, the goals of the campaign are to help retirement plan sponsors:<\/p>\n<ul>\n<li>Gain a better understanding of their plans\u2019 terms,<\/li>\n<li>Make a prudent selection in service providers and learn how to monitor them,<\/li>\n<li>Fund benefit plans with timely contributions,<\/li>\n<li>Prevent prohibited transactions, and<\/li>\n<li>Make timely disclosures to plan members and their beneficiaries, as well as timely reports to the government.<\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">Educational Tools<\/h3>\n<p>While the EBSA currently has no live seminars scheduled, it does offer a two-part webcast \u2013\u201cGetting It Right \u2013 Know Your Fiduciary Responsibilities National Webcast Series,\u201d as well as a \u201cGetting It Right \u2013 Know Your Fiduciary Responsibilities Webcast for Health Plan Sponsors Archive.\u201d Additionally, there is an \u201cERISA Fiduciary Advisory\u201d which provides information defining who is a fiduciary and what a fiduciary\u2019s responsibilities are. Also provided is a \u201c401(k) Plan Fee Disclosure Tool\u201d which&nbsp; was developed by banks, insurance companies and mutual fund trade groups. It offers employers a method for collecting and comparing investment fees and administrative costs of service providers.<\/p>\n<p>As part of its \u201cGetting It Right\u2026.\u201d campaign, the EBSA includes several publications which cover such related topics as: understanding retirement plan fees and expenses, selection of an auditor for an employee benefit plan, and selecting and monitoring plan service providers. A reference guide on basic reporting and disclosure requirements is also provided.<\/p>\n<p>Complete details of the \u201cGetting It Right\u2026\u201d campaign and all of the associated educational resources can be found on the Department of Labor website at: <a href=\"https:\/\/www.dol.gov\/agencies\/ebsa\/employers-and-advisers\/plan-administration-and-compliance\/fiduciary-responsibilities\/fiduciary-education-campaign\">https:\/\/www.dol.gov\/agencies\/ebsa\/employers-and-advisers\/plan-administration-and-compliance\/fiduciary-responsibilities\/fiduciary-education-campaign<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Employee Benefits Security Administration (EBSA) recognizes the complexities involved in retirement plan sponsors\u2019 fiduciary responsibilities. To assist plan sponsors with their regulatory compliance, ERISA has developed a Fiduciary Education Campaign. It includes a variety of educational resources ranging from seminars and webcasts to various publications. Getting It Right &#8211;&nbsp; Know Your Fiduciary Responsibilities Campaign&#8230;  <a class=\"excerpt-read-more\" href=\"https:\/\/www.amalgamatedbenefits.com\/amalgamated-employee-benefits-administrators\/ebsas-fiduciary-education-tools-help-plan-sponsors\/\" title=\"Read EBSA\u2019s Fiduciary Education Tools Help Plan Sponsors\">Read more &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.amalgamatedbenefits.com\/amalgamated-employee-benefits-administrators\/wp-json\/wp\/v2\/posts\/1939"}],"collection":[{"href":"https:\/\/www.amalgamatedbenefits.com\/amalgamated-employee-benefits-administrators\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.amalgamatedbenefits.com\/amalgamated-employee-benefits-administrators\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.amalgamatedbenefits.com\/amalgamated-employee-benefits-administrators\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.amalgamatedbenefits.com\/amalgamated-employee-benefits-administrators\/wp-json\/wp\/v2\/comments?post=1939"}],"version-history":[{"count":2,"href":"https:\/\/www.amalgamatedbenefits.com\/amalgamated-employee-benefits-administrators\/wp-json\/wp\/v2\/posts\/1939\/revisions"}],"predecessor-version":[{"id":2121,"href":"https:\/\/www.amalgamatedbenefits.com\/amalgamated-employee-benefits-administrators\/wp-json\/wp\/v2\/posts\/1939\/revisions\/2121"}],"wp:attachment":[{"href":"https:\/\/www.amalgamatedbenefits.com\/amalgamated-employee-benefits-administrators\/wp-json\/wp\/v2\/media?parent=1939"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.amalgamatedbenefits.com\/amalgamated-employee-benefits-administrators\/wp-json\/wp\/v2\/categories?post=1939"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.amalgamatedbenefits.com\/amalgamated-employee-benefits-administrators\/wp-json\/wp\/v2\/tags?post=1939"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}