Plan Fiduciary Responsibilities and Risks

As we have discussed in previous postings, Retirement Plan Governance is complex and very broad in scope.  Plan features, such as allowing participant loans, can seem easy to follow the regulatory and document requirements.  This is especially true when the loan is approved by the Plan Fiduciary, based on the loan document provisions, and the loan payments are payroll deducted.

However, the attached white paper by Bruce Ashton, at Drinker Biddle, brings up some very interesting fiduciary responsibilities and potential risks to Plan Fiduciaries which may not have been previously considered.