Plan Fiduciary Advisor Online Course

Module 1 – Fiduciary Management Under ERISA Unit 1 – Fiduciary Roles and Responsibilities I 1 Explain ERISA exclusive purpose and ERISA prudence rule 2 Identify responsibilities of Plan Sponsor 3 Identify responsibilities of Plan Administrator 4 Identify responsibilities of plan Trustee 5 Identify named fiduciaries Unit 2– Fiduciary Roles and Responsibilities II 6 Identify actions that could deem someone an inadvertent fiduciary 7 Describe the process for adding or changing fiduciaries Unit 3 – Fiduciary and Non-Fiduciary Service Providers 8 Differentiate between 3(16), 3(21) and 3(38) fiduciaries Unit 4 – Fiduciary Documentation 9 Identify required and additional documentation for maintaining plan records according to fiduciary best practice 10 Explain service provider role in assisting with prudent process documentation 11 Identify how often plan documents should be updated Unit 5 – Fiduciary Oversight I 12 Identify parties in interest to the plan 13 Identify Prohibited Transactions and possible fiduciary breach events 14 Identify possible consequences of Prohibited Transactions and fiduciary breach events 15 Explain DOL role in overseeing plans 16 Explain how common problems can be corrected using DOL and IRS correction programs 17 Analyze situations for possible Ethics issues under conflict of interests (non PT) Unit 6 – Fiduciary Oversight II 18 Explain best practice for determining reasonableness of fees 19 Classify expenses as payable and not payable by the plan assets 20 Identify main possible consequences of not documenting vendor fees review prudent process 21 Compare and contrast Fidelity bond and fiduciary insurance   Module 2 – ERISA Plan Management I Unit 1 – Plan Sponsor Goals and Objectives 22 List considerations when formulating plan goals and objectives 23 Identify sponsor's business structure and related entities 24 Identify owners and family members of owners 25 Explain impact of family and related company ownership on plan design 26 Describe impact of cash flow and budget on plan design Unit 2 - Plan Provisions 27 Explain plan features 28 Summarize how plan features support plan goals/objectives 29 Explain which plan features are optional based on the plan design Unit 3 – Plan Types 30 Compare and contrast IRA based Plans to 401(k) plans 31 Evaluate appropriateness of 401(k) based on plan sponsor goals and objectives 32 Explain hybrid combinations 33 Describe roles and responsibilities of the parties involved in creating plan documents based on plan design 34 Explain the different components of an adoption agreement 35 Identify required and optional amendments Unit 4 – Participant Outcomes 36 Explain importance of successful participant outcomes to plan sponsor and participants 37 List considerations for plan sponsor to help create successful participant outcomes 38 Assist the plan sponsor in creating goals/objectives for participant-outcome focused plan design 39 Compare and contrast education approach and behavioral finance techniques 40 Explain re-enrollment process Unit 5 – Service Provider Selection 41 Explain the roles of service providers 42 Identify factors used to assist in service provider selection 43 Describe the steps of fiduciary prudent process when selecting service providers, including RFP process 44 Explain different types of service providers, including bundled and unbundled service models 45 Identify SPD and annual notice requirements   Module 3 – ERISA Investment Management Unit 1 – Educating Fiduciary on Plan Investments I 46 Explain risk/return, asset classes and diversification of investments 47 Explain differences and similarities between investment options 48 Explain target date fund 49 Compare and contrast to/through target date funds 50 Explain QDIA rules 51 Explain impact of the use of Target date funds and/or asset allocation models on participant outcomes. 52 Explain asset allocation models 53 Compare and contrast asset allocation models and target date funds Unit 2– Educating Fiduciary on Plan Investments II 54 Explain similarities and differences of active and passive management 55 Select investments that meet plan goals and objectives 56 Describe the impact of litigation on investment selection 57 Identify fiduciary roles in investment management 58 Summarize the process of prudent investment selection Unit 3 – Investment Policy Statement 59 Explain fiduciary prudent process to create a broad-based IPS 60 Identify basic criteria and procedures to follow when selecting and replacing investment options. 61 Identify parties responsible for maintaining the IPS 62 Describe fiduciary prudent process to change IPS according to best practices Unit 4 + 5 – Plan Investment Oversight 63 Identify components of investment reviews 64 Select frequency of investment reviews and/or meetings 65 Evaluate performance of current investments 66 Assess need for investment replacement 67 Evaluate participant outcome by using gap analysis 68 Identify best practices for monitoring plan investments   Module 4 – ERISA Plan Management II Unit 1 – Liaison Services 69 Explain daily activities required by plan sponsor staff, while interacting with service providers 70 Identify most important actions to prevent most common errors Unit 2 – Retirement Plan Committee & Fiduciary Training 71 Identify the role of advisor related to the Retirement Plan Committee 72 Identify common committee structure and members 73 Explain the importance of meetings for fiduciary due diligence 74 Explain best practices for ongoing fiduciary meeting 75 Identify best practices for fiduciary training Unit 3 - Conversions 76 Explain advisor’s role in coordinating timeline and service providers during conversions 77 Explain plan sponsor responsibilities in distributing disclosures and the importance of it 78 Identify conversion documentation as a plan management best practice 79 Identify which documents help facilitate a prudent process.