The Intelligent Fiduciary: Best Practices for Navigating ERISA's Fiduciary Responsibilities

The Intelligent Fiduciary is a plain-English guide to understanding what it means to be an ERISA fiduciary — and how to do the job well. ERISA fiduciary responsibilities are often described as among the highest duties known to the law. Yet many plan sponsors, committee members, executives, trustees, and benefits professionals are expected to fulfill those responsibilities with little formal training and limited practical guidance. Written for employers, plan committees, HR and benefits professionals, executives, trustees, advisers, and others involved in running retirement, pension, 401(k), ESOP, and welfare benefit plans, this book explains the legal rules, practical risks, and governance practices every fiduciary should know. Author Carol Buckmann translates complex fiduciary law into accessible guidance on topics including plan governance, investment oversight, service provider selection, prohibited transactions, cybersecurity, AI, plan communications, fiduciary liability insurance, RFPs, government and internal audits, and ERISA litigation. The book also addresses the special challenges of defined benefit pension plans, ESOPs, welfare benefit plans, alternative investments, and outsourcing fiduciary responsibility. At a time when fiduciary breach litigation continues to grow and plan oversight is under increasing scrutiny, The Intelligent Fiduciary offers practical tools for building a prudent process, documenting decisions, managing risk, and protecting participants and beneficiaries. For anyone responsible for an employee benefit plan, this book is a clear, practical roadmap to becoming a more informed, effective, and defensible fiduciary.