Considerations for the plan sponsor contemplating self-trusteeship of a qualified retirement plan, including an overview of relevant fiduciary concerns.

The trustee of a qualified retirement plan bears many fiduciary responsibilities. Company executives acting as plan trustees may face unexpected liability. The article distinguishes between the various levels of responsibility that may be assumed by a corporate trustee, and lists many of the administrative functions that might be transferred to a corporate trustee. Finally, the article discusses certain frequently overlooked ancillary benefits stemming from use of a corporate trustee, such as consolidated reporting and simplified annual plan audits.

Download Benefits of an Institutional Trustee

This article originally appeared in the October 1998 issue of Compensation and Benefits Manager’s Monthly.