Employers sponsoring health and welfare plans and retirement plans must carry out their fiduciary responsibilities carefully or risk being targeted by plan participant class action lawsuits or by the government as Department of Labor audits proliferate. Often, these legal actions zero in on both governance issues and the extent to which fiduciaries demonstrate fiduciary engagement. Added pressure is coming from the DOL’s recently issued final regulations that not only greatly clarified which entities servicing plans serve as fiduciaries, but also put in sharp focus the steps plan sponsors must take if they wish to best shield themselves from a wide range of legal claims.

Littler has developed the tools to help employers meet these challenges facing plan fiduciaries. The Littler Fiduciary Toolkit provides corporate officers and plan committees with the critical elements needed to institute sound fiduciary governance practices for both retirement plans and health and welfare plans.

The Littler Fiduciary Toolkit is a fixed-fee suite of documents and services designed to assist plan fiduciaries to:

  • Form and train an effective and appropriate fiduciary committee
  • Conduct committee meetings in a manner to best protect the interests of plan fiduciaries
  • Search for and hire vendors and service providers and evaluate the fees they charge
  • Adopt the right process to select and monitor retirement plan investments
  • Develop an Investment Policy Statement
  • Prepare meeting minutes which demonstrate a high level of fiduciary engagement
  • Comply with ERISA’s evolving duty to disclose
  • Review and decide claims and appeals
  • Review contracts with current providers
  • Develop fiduciary committee charter to meet the needs of the committee

The Fiduciary Toolkit is a fixed fee suite of services that includes:

  • A fiduciary training session conducted by a Littler shareholder
  • Various sample documents and forms, which may include (according to plan being reviewed):
    • Sample meeting minutes
    • Sample committee charter and delegations of authority
    • Sample completed Form 5500
  • Fiduciary-centered review of third-party contracts with investment advisors, investment managers and plan record keepers
  • A one-hour consult with a Littler shareholder

To learn more about Littler’s Fiduciary Toolkit, email us at ServiceSolutions@littler.com.

Related People

Meghann J. Barloewen

Knowledge Management Counsel
Irvine, CA
(949) 705-3044

Sean D. Brown

Associate
Philadelphia, PA
(267) 402-3013

Russell D. Chapman

Special Counsel
Dallas, TX
(214) 880-8177

Steven J. Friedman

Co-Chair, Employee Benefits Practice Group
New York, NY
(212) 583-2687

Eric J. Graffeo

Associate
L.A. - Century City, CA
(310) 772-7262

Mark J. Grushkin

Shareholder
L.A. - Century City, CA
(310) 772-7236

David E. Isaacson

Associate
Chicago, IL
(312) 795-3274

Melissa B. Kurtzman

Co-Chair, Employee Benefits Practice Group
Philadelphia, PA
(267) 402-3036

Ilyse W. Schuman

Co-Chair, Workplace Policy Institute
Washington, District Of Columbia
(202) 423-2223

Wesley E. Stockard

Co-Chair, Employee Benefits Litigation Practice Group
Atlanta, GA
(404) 443-3502

Judith Wethall

Shareholder
Chicago, IL
(312) 795-3227