Plan Fiduciary Interview with ERISA Attorney, Ary Rosenbaum

In this episode, Bonnie Yam welcomes Ary Rosenbaum to discuss the complexities of 401(k) fiduciary responsibilities. Ary explains the potential consequences and penalties for failing to uphold these responsibilities and shares best practices for maintaining fiduciary compliance. The conversation covers effective strategies for reviewing and managing plan fees, identifying red flags, and preparing for audits. They also touch on the importance of voluntary compliance for delinquent filings. The episode is sponsored by Fiduciary Shield and concludes with closing remarks and expressions of gratitude.

(0:00) Introduction and welcome to Ari Rosenbaum
(1:25) Understanding 401(k) fiduciary responsibilities
(3:15) Consequences and penalties for fiduciary failures
(5:44) Best practices for fiduciary compliance
(7:33) Reviewing and managing plan fees effectively
(8:45) How to spot red flags and prepare for audits
(12:08) Sponsor: FiduciaryShield
(13:21) Voluntary compliance for delinquent filings
(14:18) Closing remarks and thank you