Understanding Fiduciary Duties | 🎙️ Beyond the Benefits with Savoy
Published: 03.26.2024
Listen to industry updates on the go with our Beyond the Benefits podcast series.
In this episode, Chris and Colleen discuss ERISA and fiduciary duties following the Johnson and Johnson (J&J) fiduciary lawsuit recently filed.
Fiduciaries include financial advisors, trustees, board members and attorneys. In an ERISA environment, fiduciaries can also include HR administrators, brokers and benefits consultants if they meet the functional test.- What is a functional fiduciary?
- What does it mean to exercise discretionary authority?
- What are broker and HR administrator responsibilities?
