The sponsor of a qualified retirement plan is responsible for compliance with complex reporting, disclosure, and general qualification requirements imposed by the Internal Revenue Code and the fiduciary responsibility provisions of the Employee Retirement Income Security Act of 1974. ERISA fiduciaries are often said to be charged with the highest duty known to the law and face personal liability for breaches. Many plan sponsors assume that hiring administrative service providers such as actuaries, recordkeepers, accountants and consultants satisfies their obligations to sponsored plans and employees/participants in those plans by outsourcing their fiduciary responsibilities. Unfortunately, fiduciary duties can never be completely outsourced. Plan fiduciaries are charged with monitoring service providers and ultimately bear the responsibility for administrative or operational problems that may arise.

Now more than ever, plan sponsors must understand their roles and responsibilities in order to obtain the tax benefits of sponsoring a qualified retirement plan and help employees prepare for retirement, while limiting the liability associated with fiduciary status. 

This webinar is designed to educate plan sponsors, plan administrators, and plan committee members, while providing a roadmap for the establishment of best practices for plan fiduciaries. Observing best practices should maximize the success of sponsored retirement plans for employees while limiting fiduciary liability.

Join Christina Anstett, Senior Vice President and Chief Legal Officer at USI Consulting Group, as she explains:

• How to establish a compliance framework for employee benefits plans
• What being a fiduciary means
• Who qualifies as a fiduciary
• Basic fiduciary duties
• Fee disclosure elements
• Delegation of responsibilities
• Settlor v. fiduciary acts
• How to limit liability 
• What prohibited transactions are
• Steps involved in correction programs

Christina Anstett, Senior Vice President and Chief Legal Officer, USI Consulting Group

 
Christina Anstett is Senior Vice President and Chief Legal Officer at USI Consulting Group.  She works directly with clients in the design, implementation and ongoing administration of employee retirement and executive compensation programs. Tina also consults with clients regarding ERISA and fiduciary issues and the effects of changes in corporate structure and other corporate transactions on employee benefit plans. She assists clients with IRS and DOL audits, correction of plan defects, the drafting of required plan documentation, IRS filings, as well as ongoing compliance with constantly changing federal laws and regulations. Tina and the Regulatory and Compliance Consulting Team keep clients informed of legislative and regulatory developments through ongoing discussions, seminars, webcasts, newsletters, and periodic communication updates focused on planning for attendant business issues and concerns.