ERISA Basics

  • Level: Introductory
  • Duration: 1 hour
  • Credits: 1.0 CEU
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Course Description

This course provides a comprehensive introduction to the Employee Retirement Income Security Act (ERISA) and the fiduciary duties it establishes for plan sponsors and administrators. Participants will explore the historical drivers behind ERISA’s enactment, including major pension failures that led to reform, and gain a clear understanding of fiduciary, settlor, and ministerial roles. Through real-world examples and case law, the course examines core fiduciary duties—prudence, loyalty, diversification, and compliance with plan documents—while addressing conflicts of interest, prohibited transactions, and fee governance. Learners will leave equipped with actionable strategies to ensure plan oversight, accountability, and participant protection.

Learning Objectives

By completing this course, you will be able to:
  • Explain the purpose of ERISA and identify the fiduciary responsibilities it establishes for plan managers.
  • Explain the historical reasons for ERISA's enactment.
  • Differentiate fiduciary, settlor, and ministerial functions under ERISA.
  • Apply the four course fiduciary duties (prudence, loyalty, diversification, and following plan documents) to real-world scenarios.
  • Analyze potential conflicts of interest and prohibited transactions, recommending compliant actions.
  • Evaluate plan fees, advisor, relationships, and governance practices to help fulfill ongoing fiduciary obligations under ERISA.

Course Lessons

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