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Fiduciary Duties in 2019 [2019]
Date: 12/5/2019 Start Time: 12:00 PM (ET) Duration: 100 Min.

Description

ERISA’s fiduciary landscape is surprisingly complex, and the last several years have brought (and rescinded) changes to that landscape. With all of the focus on the DOL’s fiduciary regulations, the BICE, and Regulation Best Interest, these changes have only increased confusion and misunderstanding. This fast-paced session will review the current fiduciary landscape and provide some clarity and understanding as to how the different types of fiduciaries can apply to the plans you serve.

Topics include:
  • Who is a fiduciary
  • Functional fiduciaries
  • Investment advisor limitations and proposals
  • 3(16), 3(21), and 3(38) fiduciaries
  • Fiduciary liabilities
  • Co-fiduciary liability
  • Disclosure responsibilities arising from fiduciary status
  • Fiduciary standards
  • Partial relief through participant direction
  • Reporting requirements to the government
  • Disqualified persons
  • Parties-in-interest
  • What is prohibited
  • Penalties and tax returns
Prerequisites: There are no prerequisites or other advanced preparation for this program. The speaker will expect attendees will have a general understanding of the operation of 401(k) and other retirement plans. Level: Intermediate
Instructional Delivery Method
Group – Internet-Based

NASBA Field of Study: Taxes

Speaker: David Schultz, J.D.

Objectives: After attending this Web seminar, an attendee should be able to:

  • Determine whether someone is a fiduciary, or some other disqualified person
  • Identify activities which make someone a fiduciary
  • Distinguish between fiduciary rolls
  • Advise a client on the advantages and disadvantages of outsourcing
  • Comply with DOL disclosure requirements relating to fiduciaries
  • Identify common prohibited transactions
  • List the penalties associated with prohibited transactions

How to participate

Please connect at least 10 minutes prior to the event to troubleshoot any issues. You will need a phone and internet access. The graphics presentation and illustrations will be viewed via the web connection, while the presenter's audio portion will be via the telephone. Important Note: The user registrant must be logged in via the internet for CE purposes. Select the "Fees" link on the right side menu of this page for more information.

System Requirements for Webex

WebEx supports both Windows and Mac operating systems. For Windows, we recommend using Internet Explorer 11 or Microsoft Edge browsers. For Mac, we recommend using Google Chrome or Mozilla Firefox browsers. For the easiest connection to the event without the need to download any additional software, try the new Webex web app by clicking on the "Join by browser" link below the login fields. Then connect by telephone as prompted.

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