Partner Marla Kreindler and of counsel Claire Bouffard are quoted in PlanSponsor discussing the types of retirement plan fiduciaries and their responsibilities. Marla noted that plan sponsors can divide named fiduciary responsibilities among multiple parties, each with their own tasks.
“That’s why many plans have separate administrative and investment committees serving as named fiduciaries,” Marla said.
Claire said one of the duties of a fiduciary is to fulfill their responsibilities as a prudent expert would, using current standards.
“Essentially, what would a prudent expert do today?” Claire asked.
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