Application for Labor Management Trust Fiduciary Liability Mt Form

Instructions and help about Application For Labor Management Trust Fiduciary Liability Mt

fiduciary it's hard to say it's hard to understand and you might be one without even knowing it so here's the deal if you manage a health or retirement plan your fiduciary you won't see that word on your business card but it's your duty to select advisors and investments minimize expenses and follow plan documents exactly that's a lot of responsibility and liability and the risk is always out there your company could be sued and you could be sued make the wrong choices and it could be your money and your assets at risk consider this to employees close to retirement age discovered they had never enrolled in the company's retirement plan so they sued the company and its fiduciaries alleging they were not properly advised how to enroll the lost benefit and legal defense costs exceeded 350 thousand dollars think they will look to the investment advisor to take the blame think again you pick them and here's what can happen an external investment manager for one company's retirement plan wro