Fiduciary vs Settlor Decisions

Be More Than A Fiduciary

In this episode of Friday Fiduciary Five, Eric Dyson talks about the differences between fiduciary and settlor decisions in the context of ERISA plans. Fiduciary decisions, such as cost and investment monitoring, must be made in the best interest of plan participants with a duties of loyalty and prudence. Settlor decisions, like plan design and plan benefit levels, involve aspects like matching contributions and auto-enrollment. Eric emphasizes the importance of committee members, particularly those involved with decisions made on behalf of the company, such finance professionals and in-house counsel, wear two different hats: one for the company and one for the plan participants. The two hat metaphor is not always simple and not always black and white, but serves as a foundation for making appropriate decisions as a fiduciary matter or as a settlor.

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The information contained herein is general in nature and is provided solely for educational and informational purposes.

It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice or legal advice.

The specific facts and circumstance of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.