Education and advice under ERISA for employee-directed 401(k) plans

Section 404(c) regulation sets forth the conditions that plan fiduciaries must meet to be relieved of liability for the consequences of employees' control over their accounts. After reviewing applicable laws and regulations, the author concludes that employers desiring to provide employees with...

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Bibliographic Details
Published in:Benefits quarterly 2000, Vol.16 (4), p.7-15
Main Author: Kimpel, J M
Format: Article
Language:English
Subjects:
Decision making
Deferred compensation
Defined benefit plans
Employee Retirement Income Security Act - legislation & jurisprudence
Employees
Employers
Employment
ERISA
Federal regulation
Fiduciaries
Fiduciary responsibility
Financing, Personal
Health administration
Humans
Inservice Training - organization & administration
Investments - economics
Investments - legislation & jurisprudence
Liability
Regulation
Retirement - economics
Retirement plans
Salaries and Fringe Benefits - legislation & jurisprudence
United States
Wages & salaries
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Summary:Section 404(c) regulation sets forth the conditions that plan fiduciaries must meet to be relieved of liability for the consequences of employees' control over their accounts. After reviewing applicable laws and regulations, the author concludes that employers desiring to provide employees with education and/or advice services through a third party should be able to do so while still obtaining reliance on the protections of Section 404(c) and without taking on significant additional fiduciary responsibilities.
ISSN:8756-1263
2168-3336