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Fiduciary Reportcard

How well are you fulfilling your fiduciary plan obligations?

In the 2008 case of LaRue v.De Wolff (et al), the Court issued a unanimous decision authorizing a single plan participant to bring suit against his former employer for breach of Fiduciary duty.

Our goal is to provide you with the information and tools to make better decisions and reduce your fiduciary risk. Alpha & Omega's purpose is to not only assist you in fulfilling your fiduciary obligations, but reduce your fiduciary liability by outsourcing many of those responsibilities to Alpha & Omega.

Regardless of your score, it is important to refresh your knowledge of fiduciary responsibilities. Review items that were left blank to determine what more can be done in these areas. Your score will provide a general assessment of your responsibilities, but may not include all your obligations under ERISA.

While all items are given equal value and importance, some can have a greater impact than others. For example, from an investment perspective, numbers 13, 14, 15, 20 and 24 are critical to providing participants with a prudent investment program.

How to Calculate Your Fiduciary Score

Count the boxes you marked on the following section. If your total is:

  • 23-28: You seem to be on the right track. Continue to prudently investigate, monitor and document.
  • 20-23: You're headed in the right direction, but need to improve in a few areas to manage your risk.
  • 16-19: You've taken a few steps toward managing your fiduciary responsibilities, but may be exposing yourself to liability in several areas.
  • 15 or fewer: If you do not take steps immediately to meet your obligations you may find yourself in hot water.

Ten minute test

Click here for a 10 minutes test to see how you score.