The retirement industry's focus on the meaning of "fiduciary" has intensified as the U.S. Labor Department considers expanding its definition. Lawyer Joan Disler writes that C-level decision makers can be fiduciaries, and they cannot delegate their fiduciary responsibilities, even if they outsource some of their duties. To limit liability, companies should consider establishing effective committees and written policies, and make sure information flows effectively among decision makers.

Related Summaries