NU Online News Service, May 19, 2004, 5:35 p.m. EDT – The federal Employee Benefits Security Administration has started a campaign to educate benefit plan fiduciaries about their responsibilities under the Employee Retirement Income Security Act.[@@]
The agency has scheduled a series of seminars connected with the “Getting It Right?Know Your Fiduciary Responsibilities” campaign in Arizona, Florida, Massachusetts and Ohio.
The seminars, which start June 17, will explain why employers must make timely contributions to fund benefits and tell participants how to avoid making prohibited transactions, officials say.
EBSA, an arm of the U.S. Department of Labor, also has released a collection of pamphlets on topics such as meeting fiduciary responsibilities, understanding retirement plan fees and expenses, selecting benefit plan auditors and reporting on benefit plan finances and activities.