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If employee benefits compliance doesn't sound fun to you, then you haven't listened to ERISA is a friend of mine, a podcast hosted by the Compliance Services professionals from Lockton. Join hosts Edward Fensholt, J.D., director of Compliance Services, and Scott Behrens, J.D., director of Government Relations, to learn the intricacies of the Employee Retirement Income Security Act (ERISA) and other employee benefits laws, one hilarious topic at a time. 

 

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  2. Avoiding the ERISA check engine light: A little work now can save big headaches later

Avoiding the ERISA check engine light: A little work now can save big headaches later

Sep 30, 2019

If you’re listening to this podcast you might be a medical plan fiduciary … and there are a few things you need to know. Medical plan fiduciaries face a small, but significant, risk of litigation related to their plan’s administration, and related to what the fiduciaries should be doing but often aren’t.

In this episode, we clarify who is a fiduciary and why your medical plan might need some regularly scheduled maintenance! Ethan McWilliams, who used to carry a badge at the DOL, joins Ed and Scott to talk about the role of a fiduciary, why it’s important for them to do a little medical plan “preventive maintenance,” and how a new service from Lockton, the Lockton Fiduciary Shield, can help.

  • Are we saying goodbye to the “Cat Man?”
  • Where are the most common fiduciary danger zones?
  • Whoa, whoa…you’re saying fiduciaries are supposed to KNOW SOMETHING about how their plan operates? (Ed is concerned.)
  • Why are good notes so critical to the fiduciary decision-making process?
  • As a fiduciary, would you find a medical plan “owner’s manual” helpful?
  • What do Scott and Stranger Things have in common? (Hint: nothing and everything!)