Fiduciary Duties

Fiduciary duties

A plan must have at least one fiduciary, which can be either a person or an entity. A party can become a fiduciary when they are expressly appointed as fiduciary (generally as the plan sponsor, plan administrator, plan trustee, or member of an administrative or investment committee) or when they perform a duty that is deemed to be a fiduciary function.

As a plan sponsor, plan trustee, plan administrator or investment advisor, you may very well be a fiduciary to the plan. There are many fiduciary duties to consider, making this role very important.

In addition to the fiduciary duties outlined in the plan document, the Department of Labor provides helpful information regarding fiduciary duties on its website.

 


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Pinnacle Plan Design is a third-party administrator (TPA) for employer-sponsored qualified retirement plans. We specialize in retirement plan design, administration and actuarial consulting. Pinnacle has a local presence in Tucson and Phoenix, Arizona (AZ), as well as Houston, Texas (TX) and Columbus, Ohio (OH), and we proudly serve businesses nationwide.

Founded in January, 2001 by Kevin Donovan, CPA, EA, MSPA, FCA, Pinnacle Plan Design is a nationally recognized leader in the design and administration of qualified retirement plans. Pinnacle Plan Design is dedicated exclusively to serving closely held businesses. We provide retirement plan consulting and design, actuarial services and administrative services. Our team of actuaries and credentialed retirement plan experts are uniquely qualified to help you successfully navigate complex federal regulations and obtain maximum benefits for you and your stakeholders.

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