Please click the play arrow above to watch this 30-minute on-demand webinar recording. We created a checklist for retirement plan sponsors to better understand if they are meeting expectations for strategic fiduciary oversight of their organization’s 401(k) plan. Use the form at the bottom of this page to request this checklist if you’d like to use it.
This webinar is presented by our advisor, Jenna Witherbee. It is the third of three in our 2025 Fiduciary Training series. You may use the button below to find all three trainings from 2025 - 101, 201, and 301 - in one on-demand playlist.
Below is an overview of what you’ll learn in Fiduciary Training 301 - Strategic Fiduciary Oversight for 401(k) Plans
Agenda - consists of more advanced concepts for Retirement Plan Sponsors
Brief Recap of 101 and 201
Investment Due Diligence at the Next Level
Plan Design Strategy
Insurance & Protection Layers
Documentation & Fiduciary File
Audit Readiness
Cybersecurity
Understanding Fiduciary Roles and Responsibilities
Fiduciaries are responsible for managing plans in the best interest of participants and beneficiaries.
Key duties include managing plan expenses, ensuring diversification of investments, and adhering to plan documents
Fiduciaries must act with care, skill, prudence, and diligence
Investment Policy Statement (IPS) Importance
The IPS outlines the investment strategy and guidelines for the retirement plan.
It ensures compliance with ERISA Section 404(c) and provides participants with control over their investments
The IPS includes provisions for a qualified default investment alternative (QDIA) to limit fiduciary liability
Revenue Sharing and Fee Structures
Understanding fee structures is crucial for transparency and cost management in retirement plans
Revenue sharing involves using expense ratios that include fees for recordkeeping and advisory services
Zero revenue sharing funds provide greater transparency and are increasingly utilized in larger plans
Plan Design Strategy for 401(k) Plans
A well-structured plan design can enhance employee benefits and support business goals.
Key elements include eligibility, employer contributions, distributions, and automatic features like auto-enrollment
The primary goal is to attract and retain talent while ensuring adequate retirement savings for employees
Insurance and Protection Layers for Fiduciaries
Fiduciaries should consider insurance options to mitigate risks associated with plan management.
ERISA fidelity bonds are required to protect against employee fraud, covering 10% of plan assets up to $500,000
Fiduciary insurance is advisable but not mandatory, providing additional protection for plan administrators
Documentation and Audit Readiness
Maintaining thorough documentation is essential for compliance and audit preparedness.
The fiduciary file should include plan documents, investment monitoring records, fee disclosures, and meeting minutes
Regular audits by the DOL and IRS ensure compliance with ERISA and tax regulations
Cybersecurity Considerations for Retirement Plans
Cybersecurity is a critical aspect of protecting participant data and plan integrity.
Due diligence on service providers and ongoing monitoring of cybersecurity practices are necessary
Documentation of cybersecurity measures is essential for compliance and risk management
Optional Fiduciary Training and Credentials
Fiduciary Essentials® for Defined Contribution Plans offers additional training for fiduciaries.
The program includes three sessions, quizzes, and a course assessment to enhance fiduciary decision-making
Resources such as checklists and compliance calendars are provided to support fiduciaries
Upcoming Webinars and Educational Opportunities
We have 16 webinars scheduled for 2026. Our aim is to provide ongoing, relevant education for plan sponsors and participants. You may register for all of those trainings today by visiting our “On-Demand Education” tab at the top of our website.
The next Fiduciary Training webinar for plan sponsors is on February 19th, 2026 - use the button below to register today
Please let us know if you would like the Strategic Fiduciary Oversight of your 401(k) Plan Checklist PDF. Use the form to submit your request and we will send it to you in 1-2 business days. Thank you for your interest.