Your Role as a Plan Sponsor

What does it mean to be a plan fiduciary?

An ERISA plan fiduciary is anyone named as a fiduciary by the terms of an ERISA plan or who has discretionary authority or responsibility in the administration of the plan. Or Exercises any authority or control concerning the management and disposition of plan assets, or who provides investment advice to the plan for compensation. In practice this often includes the business owner and members of a retirement plan committee. Being a fiduciary means you are legally required to act in the best interest of the plan's participants. Many plan sponsors are not aware that their role can make them a fiduciary.

NOTICE OF DISCLAIMER Investment advisory services offered through Global Retirement Partners, LLC, dba Retirement Impact, LLC, an SEC registered investment advisor. Global Retirement Partners, LLC (GRP) dba Retirement Impact, LLC is not a law or accounting firm, and therefore they cannot provide legal or tax advice. The information herein is provided for general information only, and is not intended to constitute legal or tax advice as to an organization's or individual's specific circumstances. Subsequent developments may result in this information becoming outdated or incorrect. It is your obligation to seek current information. You should consult an attorney, accountant, or other legal or tax professional regarding the application of the general information provided here to your organization's specific situation in light of your or your organization's particular needs.