More Tips from the DOL

Yesterday, the SEC and DOL published Tips for Plan Fiduciaries related to examining practices of pension consultants. The DOL has also provided a Fact Sheet entitled “Tips for Selecting and Monitoring Service Providers for your Employee Benefit Plan..” DOL states that the tips are designed for fiduciaries of 401(k) plans and other types of pension plans to assist them in “carrying out their responsibilities under ERISA to prudently select and monitor plan service providers.”