Back to Basics: Fiduciary Duty September 26 at 3:00 PM/ET Retirement system trustees are fiduciaries. Why? Because they are responsible for the administration of the retirement plan on
Back to Basics: Fiduciary Duty
September 26 at 3:00 PM/ET
Retirement system trustees are fiduciaries. Why? Because they are responsible for the administration of the retirement plan on whose boards they serve. They are also fiduciaries when they exercise any discretionary authority or control in managing and investing a plan’s assets.
But what is the significance of being a fiduciary?
For one thing, fiduciaries are subject to the highest standard of care known under the law. So they need to know the rules that apply to them and govern their actions.
However, pension plans are undergoing a lot of changes. And, from school shootings to multi-million-dollar cyber thefts to ESG investing, the world around us is as well. How can these changes affect the fiduciary duties that trustees must exercise? The principles may not have changed, but what about the way they should be applied, given the current economic, societal and environmental realities of today?
Therefore, it cannot hurt to refresh our knowledge of the principles of fiduciary duty and their application to the new challenges trustees and their systems are confronting. Accordingly, NCTR is delighted to have an expert in this area join Leigh Snell, NCTR’s Director of Federal Relations, for a “back-to-basics” webinar on fiduciary duty on Thursday, September 26, at 3:00 PM EDT. Be sure to join Leigh and his guest, Tony Gelderman, Counsel with Bernstein Litowitz Berger & Grossmann LLP, who is responsible for the firm’s institutional investor and client outreach.
Engaging and entertaining, Tony promises to make this refresher course enjoyable as well as knowledgeable. So, be sure to register for this NCTR members-only webinar, as attendance is limited, and this will be one you will not want to miss!