ERISA Fiduciary Duties: Retirement Plans vs. Health Plans

Many plan sponsors may not realize that both retirement plans and health plans can be subject to ERISA Where ERISA applies, both types of plans are governed by core fiduciary principles, face increasing scrutiny and litigation risk, and benefit from strong, consistent governance practices.

This session will focus on the fiduciary considerations relevant to both retirement and health plans, and the practical, plan-specific steps committees can take to demonstrate prudence and reduce risk. Join us as we discuss:

• ERISA requirements that apply equally to health and retirement plans
• How core fiduciary duties – such as loyalty, prudence, and adherence to plan documents - apply in context, including when investment diversification is relevant
• Where retirement and health plans differ in their governance and day-to-day operation
• Tips for applying key governance practices to both (committee charters, regular benchmarking, documented decision-making, vendor and fee oversight)
• Emerging litigation and enforcement trends affecting retirement and health plans

By the end of the session, attendees will have a clearer understanding of how to apply consistent fiduciary processes across their benefits programs while accounting for the important differences between plan types.

This webinar is for general informational purposes only and should not be construed as legal, tax, or investment advice.