ERISA: MLR Rebates, Plan Assets and General Plan Sponsor Fiduciary Duties
For plans subject to the Employee Retirement Income Security Act (ERISA), the law establishes certain standards that must be followed by those who manage the employee benefit plan and its assets (e.g., plan fiduciaries). An ERISA plan has certain designated and automatic fiduciaries, and an individual may also become a fiduciary by the nature of their role. These individuals must comply with a variety of fiduciary duties, including acting in the best interest of the plan participants and beneficiaries and ensuring that they use plan assets for the exclusive purpose of providing plan benefits and defraying plan administration costs. This webinar will review those duties and highlight scenarios where a plan sponsor/employer performs a fiduciary function, such as utilizing and distributing MLR rebates.
In this webinar, the Regulatory & Legislative Strategy Group will answer these questions:
- Who is a plan fiduciary?
- What are the key fiduciary duties under ERISA?
- What are plan assets?
- What ERISA requirements apply to the use of plan assets?
- How do ERISA’s fiduciary duties apply to MLR rebates?
This program has been approved for 1.0 HRCI and SHRM credit.
