ERISA and the Retirement-Plan Account
Chapters in this video
- 0:00 The ERISA coverage and exclusion puzzle
- 1:00 Government and church plan exam traps
- 2:35 Three paths to fiduciary status
- 3:21 DOL five-part investment advice test
- 4:12 Four fiduciary duties and prudent expert standard
- 5:37 Prohibited transactions and parties in interest
- 7:15 Essential services and reasonable compensation exemption
- 7:51 The 25% plan assets threshold trap
- 8:51 Rapid-fire exam recap
What this video covers
- The five specific plans excluded from Employee Retirement Income Security Act (ERISA) coverage, with government and church plans as the most tested traps
- The three statutory tests that make someone a plan fiduciary, and the critical distinction between discretionary control and the Department of Labor (DOL) five-part investment-advice test
- The four fiduciary duties (exclusive purpose, prudence, diversification, and following plan documents) and the strict prudent expert standard that exceeds ordinary care
- The six categories of prohibited transactions with parties in interest, including the specific exemption for reasonable compensation for necessary services
- The 25% plan assets rule, how it is measured per class of equity interests with the manager's stake stripped from the denominator, and why this mathematical trap can pull a sponsor into full ERISA regulation
Read the full lesson, free
This video's complete written lesson is free to read in the CertFuel app, no signup wall. The complete Series 82 course also includes adaptive practice questions and spaced-repetition flashcards, available in Free Beta.