ERISA Fiduciary Oversight Is No Longer Just a Retirement Plan Issue

For many associations, fiduciary oversight under the Employee Retirement Income Security Act (ERISA) has historically been associated primarily with retirement plans. Over the past two decades, boards and executive directors have become familiar with governance expectations surrounding 401(k) and 403(b) plans, including oversight responsibilities, documentation, fee transparency and periodic review.

What is becoming increasingly clear is that this fiduciary lens may not be limited to retirement plans alone. Other ERISA-covered benefit programs are beginning to receive similar scrutiny, prompting associations to take a broader look at how benefits governance is structured, monitored and documented.

This shift is not sudden, and it is not a crisis. It follows a familiar pattern. Fiduciary standards evolve over time, and organizations that recognize those shifts early are typically better positioned than those forced to react later.

Please select this link to read the complete article from ASAE's Center for Association Leadership.