Having a retirement plan as part of a benefits package can be a challenging, yet rewarding, decisions an employer can make. The employees participating in the plan, as well as their beneficiaries, benefit when a retirement plan is in place and they can build a safety net for their retirement. Administering a plan and managing its assets, however, require certain actions and involve specific responsibilities.

To meet their responsibilities as plan sponsors, employers need to understand some basic rules, specifically the Employee Retirement Income Security Act (ERISA). ERISA sets standards of conduct for those who manage an employee benefit plan and its assets (called fiduciaries). Meeting Your Fiduciary Responsibilities provides an overview of the basic fiduciary responsibilities applicable to retirement plans under the law.

The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) offers more information on its Website and through its publications:

For employers:

Meeting Your Fiduciary Responsibilities
Reporting and Disclosure Guide for Employee Benefit Plans
Protect Your Employee Benefit Plan with an ERISA Fidelity Bond
Selecting an Auditor For Your Employee Benefit Plan
401(k) Plans for Small Businesses
SEP Retirement Plans for Small Businesses
SIMPLE IRA Plans for Small Businesses
Automatic Enrollment 401(k) Plans for Small Businesses
Automatic Enrollment Sample Notice
Adding Automatic Enrollment to Your 401(k) Plan
Profit Sharing Plans for Small Businesses
Retirement Plan Correction Programs
(Also see DFVCP and VFCP fact sheets, frequently asked questions and calculators at


For employees:
Savings Fitness: A Guide to Your Money and Your Financial Future
Taking the Mystery Out of Retirement Planning
Top 10 Ways to Prepare for Retirement
Women and Retirement Savings


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