Resources to help fiduciaries
As a retirement plan professional, you’re also a plan fiduciary under ERISA. John Hancock supports your role and efforts with an extensive collection of fiduciary resources—all to help you make more prudent decisions. Great plan outcomes start with fiduciary skill. John Hancock can help.
Learn the fiduciary basics
You can become a fiduciary under ERISA either by serving in a fiduciary function or by being designated the named fiduciary in the plan document. Below are your basic duties, as prescribed under ERISA.
Duty to act for the exclusive purpose of providing benefits and paying the reasonable expenses of the plan
Duty to act in accordance with the plan document
.
Duty to avoid engaging in prohibited transactions
Duty to disclose required information to employees
Duty to diversify plan investments
Duty to monitor the performance of service providers and investment options
Fiduciary responsibility—an employer’s guide
A valuable resource for plan sponsors, financial professionals, and consultants, this guide covers ERISA basics, fiduciary responsibilities, and ways to limit exposure.
More hands-on tools to support your fiduciary practice
Understanding the role and responsibilities of a plan fiduciary
Hear Head of DC Consulting Chris Frank and Senior ERISA Consultant Ted Pirrera cover the fundamentals of ERISA, the fiduciary duties ERISA creates for plan professionals, and strategies for navigating through the fast-changing regulatory environment.
Overview of the proposed RMD rules
Our experts provide an overview of proposed 401(a)(9) regulation changes with helpful examples and a Q&A session. Hear from Assistant Vice President and Associate Chief Counsel Tami Guimelli and Senior ERISA Specialist Robin Revzin as they break down the 275-page release by focusing on the important updates and share their insight on what these changes mean for account owners and their beneficiaries.
Refine your fiduciary practices
While it’s important to understand the ERISA framework, the hallmark of a successful fiduciary is in leveraging the regulations to design and maintain a more effective plan. There are four hands-on responsibilities that plan fiduciaries must be adept at.
Management of plan operations
Service provider selection and monitoring
Investment selection and monitoring
Participant communication
The 2024 ERISA compliance calendar
Includes all key testing and reporting dates for the current year—with extensive notes on procedures and requirements
Fiduciary hot topics
In this rapidly shifting fiduciary landscape, we want to help keep you up to date and informed. Here are some pieces on trending topics that you might find of interest.
Webinar
Live and archived: John Hancock’s legislative and regulatory updates
Our quarterly webinar series focusing on the legal and rule changes that affect retirement plan strategy, management, and administration is broadcast live online (with Q&A sessions) with past sessions available on demand.
Featuring:
Chris Frank
Head of Defined Contribution Consulting
Featuring:
Tami Guimelli
Assistant Vice President and Associate Chief Counsel
Focus on cybersecurity
Keeping participants’ privacy and accounts safe is a key fiduciary duty. That’s why we make cybersecurity a key aspect of the fiduciary support we provide.
The protection of participants’ accounts and data is a fiduciary duty under ERISA
The U.S. Department of Labor has laid out specific best practices for cybersecurity programs and the selection of service providers with strong cybersecurity practices1
Webinar
On demand: building layers of cybersecurity defense
Listen in on our discussion on the DOL’s cybersecurity guidance, John Hancock’s multilayered security, and tips to help protect yourself, your clients, and your business.
Viewpoints on fiduciary responsibilities and practices
These articles can be helpful in understanding fiduciary issues and in making prudent plan decisions.
ERISA
Updates and insight on key fiduciary standards including cybersecurity
Legislative/regulatory
News on laws and rules that affect your fiduciary duties and action to take today
Plan design
Information to help you take a responsible design approach
Investments
Guidance and perspectives to help prudently manage plan investments and costs
1 “Cybersecurity Program Best Practices” and “Tips for Hiring a Service Provider with Strong Security Practices” factsheets, dol.gov.
This is not intended to be an exhaustive review of fiduciary responsibilities under ERISA. It highlights key issues that plan fiduciaries must be aware of. John Hancock is not in a position to provide you with legal advice concerning your plan or your role as plan fiduciary, and the information included here should not be taken as such. If legal advice or other expert assistance is required, please consult your legal counsel.