SOURCE: Profit Sharing/401k Council of America

January 26, 2011 17:00 ET

PSCA Launches Online ERISA Fiduciary Training Program

CHICAGO, IL--(Marketwire - January 26, 2011) - "The single most important role a plan sponsor serves is being a fiduciary. With increased complexity in plan design, communications, and investment selection, a fiduciary's job is becoming increasingly challenging," said David Wray, President of the Profit Sharing/401k Council of America (PSCA). "Recognizing the need for unbiased, professional basic fiduciary training, I am proud to announce PSCA is now offering a new comprehensive, self-study, online course: PSCA's ERISA Fiduciary Training Program."

PSCA's ERISA Fiduciary Training Program is a four-module course that permits individuals to take the program online at a convenient time at work or at home. Each module includes a test, and, upon successful completion of the program, the participant earns a certificate of completion. This certificate serves as evidence of plan sponsors' compliance with an appropriate fiduciary and provides the DOL or other regulatory agency with documentation that responsible individuals serving as fiduciaries have completed ERISA fiduciary training and have demonstrated an understanding of their role.

The four modules comprising the PSCA's ERISA Fiduciary Training Program are:

  • ERISA's Vision of the Fiduciary Role
  • ERISA Decision-Making Framework
  • Selecting and Monitoring Service Providers
  • Fiduciary Communications with Participants

Future advanced programs on investments, defined benefit plans, and plan administration will be available in the 2nd quarter of 2011. The cost to take the program is $250 for members of PSCA and $750 for non-members, which includes a year of updates and allows participants to take advanced courses for only an additional $50 per course.

PSCA's ERISA Fiduciary Training Program was created collaboratively by a team of plan sponsors, fiduciary consultants, and nationally recognized ERISA and employee benefit attorneys. The program is recommended for members of fiduciary committees, investment committees, or other employees who have primary responsibility for managing their company's employer directed retirement plan.

In launching this new educational effort, PSCA continues its 60-year history of providing services to plan sponsors to help them better manage their retirement plans. 

***About the Profit Sharing/401k Council of America***

The Profit Sharing/401k Council of America (PSCA), a national non-profit association of 1,200 companies and their 6 million employees, advocates increased retirement security through profit sharing, 401(k) and related defined contribution programs to federal policymakers and makes practical assistance with profit sharing and 401(k) plan design, administration, investment, compliance and communication available to its members. PSCA, established in 1947, is based on the principle that "defined contribution partnership in the workplace fits today's reality." PSCA's services are tailored to meet the needs of both large and small companies with members ranging in size from Fortune 100 firms to small, entrepreneurial businesses.

Contact Information

    Profit Sharing/401k Council of America
    David Wray
    20 North Wacker Drive
    Suite 3700
    Chicago, IL 60606
    P: (312) 419-1863
    F: (312) 419-1864